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 | Eastland County | Texas Avg | US Average |
|---|---|---|---|
| Median Home Price | $61,176 | $248,418 | $242,182 |
| Price Trend (Annual %) | 7.6% | 9.9% | 8.2% |
| Median Gross Rent | $803 | $1,338 | $1,342 |
| Rent Trend (Annual %) | 6.3% | 5.7% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Eastland County is about 75% lower than in Texas. Rent is about 40% 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 Eastland County, up about 7.6% and 6.3% a year respectively. Home prices are changing faster.
Median rent in Eastland County rose about 49.0% between 2015 and 2023, from $539 to $803. Over the same span, rent in Texas rose about 51.9%.
Affordability
On average, housing unit costs 1.1 yearly household incomes in Eastland County.
Buying the median-priced home in Eastland County costs roughly 6.4 years of rent at the median monthly rate. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Eastland County. The price-to-rent ratio in Texas is about 15.5.
| Metric | Eastland County | Texas Avg | US Average |
|---|---|---|---|
| Median Home Price | $61,176 | $248,418 | $242,182 |
| Median Household Income | $53,486 | $76,510 | $78,145 |
| Price-to-Income Ratio | 1.1 | 3.2 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Eastland County fell about 41.9%, while median household income rose about 63.5% between 2009 and 2023 — income grew faster than the home price.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Eastland County | Texas Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 54.3% | 56.5% | 58.2% |
| Rental Rate | 22.0% | 33.8% | 31.3% |
| Vacancy Rate | 23.7% | 9.6% | 10.6% |
| Median Tenure (years) | 15.0 | 14.0 | 15.0 |
| Median Year Moved In | 2011 | 2012 | 2011 |
Eastland County has a homeownership rate of 54.3%, lower than the Texas average of 56.5%. Its housing vacancy rate is 23.7%, compared with 9.6% in Texas.
Housing Stock
| Metric | Eastland County | Texas Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.36 people | 2.70 people | 2.54 people |
| Median Structure Built Year | 1966 | 1989 | 1978 |
| Median Number of Rooms | 5.3 | 5.4 | 5.5 |
The typical housing unit in Eastland County was built around 1966. On average, 2.4 people live in a home with about 5.3 rooms, staying for about 15.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Eastland County, Texas.
What is the median home price in Eastland County, Texas?
The median home price in Eastland County, Texas is $61,176, lower than the Texas average of $248,418.
What is the average home price in Eastland 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 Eastland County, Texas?
The median gross rent in Eastland County, Texas is $803 per month, lower than the Texas average of $1,338.
What was the median gross rent in Eastland County in 2020?
In 2020, the median gross rent in Eastland County, Texas was $653 per month.
What is the price-to-rent ratio in Eastland County, Texas?
The price-to-rent ratio in Eastland County, Texas is about 6.4, meaning it would take roughly 6.4 years of rent payments at the median rent to equal the median home price. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Eastland County.
Are home prices or rent rising faster in Eastland County, Texas?
Both home prices and rent are rising in Eastland County, up about 7.6% and 6.3% a year respectively. Home prices are changing faster.
What is the homeownership rate in Eastland County, Texas?
54.3% of households in Eastland County, Texas own their home, lower than the Texas average of 56.5%.
What is the vacancy rate in Eastland County, Texas?
The housing vacancy rate in Eastland County, Texas is 23.7%, higher than the Texas average of 9.6%.