Housing Market Overview
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Dickens County | Texas Avg | US Average |
|---|---|---|---|
| Median Home Price | $426,666 | $248,418 | $242,182 |
| Price Trend (Annual %) | 90.6% | 9.9% | 8.2% |
| Median Gross Rent | $753 | $1,338 | $1,342 |
| Rent Trend (Annual %) | 8.0% | 5.7% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Dickens County is about 72% higher than in Texas. Rent is about 44% lower than the Texas average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2023
Median Rent Prices, 2015-2023
Both home prices and rent are rising in Dickens County, up about 90.6% and 8.0% a year respectively. Home prices are changing faster.
Median rent in Dickens County rose about 56.7% between 2015 and 2023, from $481 to $753. Over the same span, rent in Texas rose about 51.9%.
Affordability
On average, housing unit costs 8.5 yearly household incomes in Dickens County.
Buying the median-priced home in Dickens County costs roughly 47.2 years of rent at the median monthly rate. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Dickens County. The price-to-rent ratio in Texas is about 15.5.
| Metric | Dickens County | Texas Avg | US Average |
|---|---|---|---|
| Median Home Price | $426,666 | $248,418 | $242,182 |
| Median Household Income | $50,444 | $76,510 | $78,145 |
| Price-to-Income Ratio | 8.5 | 3.2 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Dickens County rose about 2102.2%, while median household income rose about 73.8% between 2009 and 2023 — the home price grew faster than income.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Dickens County | Texas Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 50.3% | 56.5% | 58.2% |
| Rental Rate | 11.5% | 33.8% | 31.3% |
| Vacancy Rate | 38.2% | 9.6% | 10.6% |
| Median Tenure (years) | 16.0 | 14.0 | 15.0 |
| Median Year Moved In | 2010 | 2012 | 2011 |
Dickens County has a homeownership rate of 50.3%, lower than the Texas average of 56.5%. Its housing vacancy rate is 38.2%, compared with 9.6% in Texas.
Housing Stock
| Metric | Dickens County | Texas Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.31 people | 2.70 people | 2.54 people |
| Median Structure Built Year | 1964 | 1989 | 1978 |
| Median Number of Rooms | 5.5 | 5.4 | 5.5 |
The typical housing unit in Dickens County was built around 1964. On average, 2.3 people live in a home with about 5.5 rooms, staying for about 16.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Dickens County, Texas.
What is the median home price in Dickens County, Texas?
The median home price in Dickens County, Texas is $426,666, higher than the Texas average of $248,418.
What is the average home price in Dickens County, Texas?
The typical home price in %s, reported as the median sale price, is %s. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Dickens County, Texas?
The median gross rent in Dickens County, Texas is $753 per month, lower than the Texas average of $1,338.
What was the median gross rent in Dickens County in 2020?
In 2020, the median gross rent in Dickens County, Texas was $550 per month.
What is the price-to-rent ratio in Dickens County, Texas?
The price-to-rent ratio in Dickens County, Texas is about 47.2, meaning it would take roughly 47.2 years of rent payments at the median rent to equal the median home price. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Dickens County.
Are home prices or rent rising faster in Dickens County, Texas?
Both home prices and rent are rising in Dickens County, up about 90.6% and 8.0% a year respectively. Home prices are changing faster.
What is the homeownership rate in Dickens County, Texas?
50.3% of households in Dickens County, Texas own their home, lower than the Texas average of 56.5%.
What is the vacancy rate in Dickens County, Texas?
The housing vacancy rate in Dickens County, Texas is 38.2%, higher than the Texas average of 9.6%.