El Paso, Texas Housing Market Prices
El Paso Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 19% below the Texas median$208,832
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Median rent 24% below the Texas median$1,060
Housing Market Overview
| Metric | El Paso | Texas Avg | US Average |
|---|---|---|---|
| Median Home Price | $208,832 | $258,873 | $248,835 |
| Price Trend (Annual %) | 9.8% | 9.2% | 7.5% |
| Median Gross Rent | $1,060 | $1,402 | $1,407 |
| Rent Trend (Annual %) | 4.3% | 5.6% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in El Paso is about 19% lower than in Texas. Rent is about 24% lower than the Texas average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in El Paso, up about 9.8% and 4.3% a year respectively. Home prices are changing faster.
Median rent in El Paso rose about 42.7% between 2015 and 2024, from $743 to $1,060. Over the same span, rent in Texas rose about 59.1%.
Affordability
On average, housing unit costs 3.6 yearly household incomes in El Paso.
Buying the median-priced home in El Paso costs roughly 16.4 years of rent at the median monthly rate. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in El Paso. The price-to-rent ratio in Texas is about 15.4.
| Metric | El Paso | Texas Avg | US Average |
|---|---|---|---|
| Median Home Price | $208,832 | $258,873 | $248,835 |
| Median Household Income | $58,084 | $78,939 | $80,455 |
| Price-to-Income Ratio | 3.6 | 3.3 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in El Paso rose about 94.1%, while median household income rose about 59.6% between 2009 and 2025 — 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 | El Paso | Texas Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 55.2% | 56.7% | 58.5% |
| Rental Rate | 36.9% | 33.9% | 31.2% |
| Vacancy Rate | 7.9% | 9.4% | 10.2% |
| Median Tenure (years) | 14.0 | 14.0 | 15.0 |
| Median Year Moved In | 2012 | 2012 | 2011 |
El Paso has a homeownership rate of 55.2%, lower than the Texas average of 56.7%. Its housing vacancy rate is 7.9%, compared with 9.4% in Texas.
Housing Stock
| Metric | El Paso | Texas Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.73 people | 2.69 people | 2.53 people |
| Median Structure Built Year | 1982 | 1990 | 1978 |
| Median Number of Rooms | 5.3 | 5.4 | 5.5 |
The typical housing unit in El Paso was built around 1982. On average, 2.7 people live in a home with about 5.3 rooms, staying for about 14.0 years on average.
Frequently Asked Questions
Common questions about the housing market in El Paso, Texas.
What is the median home price in El Paso, Texas?
The median home price in El Paso, Texas is $208,832, lower than the Texas average of $258,873.
What is the average home price in El Paso, Texas?
The typical home price in El Paso, Texas, reported as the median sale price, is $208,832. 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 El Paso, Texas?
The median gross rent in El Paso, Texas is $1,060 per month, lower than the Texas average of $1,402.
What was the median gross rent in El Paso in 2020?
In 2020, the median gross rent in El Paso, Texas was $847 per month.
What is the price-to-rent ratio in El Paso, Texas?
The price-to-rent ratio in El Paso, Texas is about 16.4, meaning it would take roughly 16.4 years of rent payments at the median rent to equal the median home price. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in El Paso.
Are home prices or rent rising faster in El Paso, Texas?
Both home prices and rent are rising in El Paso, up about 9.8% and 4.3% a year respectively. Home prices are changing faster.
What is the homeownership rate in El Paso, Texas?
55.2% of households in El Paso, Texas own their home, lower than the Texas average of 56.7%.
What is the vacancy rate in El Paso, Texas?
The housing vacancy rate in El Paso, Texas is 7.9%, lower than the Texas average of 9.4%.
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