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.
Housing Market Overview
| Metric | Euless | Texas Avg | US Average |
|---|---|---|---|
| Median Home Price | $298,795 | $248,418 | $242,182 |
| Price Trend (Annual %) | 14.5% | 9.9% | 8.2% |
| Median Gross Rent | $1,548 | $1,338 | $1,342 |
| Rent Trend (Annual %) | 6.7% | 5.7% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Euless is about 20% higher than in Texas. Rent is about 16% higher 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 Euless, up about 14.5% and 6.7% a year respectively. Home prices are changing faster.
Median rent in Euless rose about 62.9% between 2015 and 2023, from $950 to $1,548. Over the same span, rent in Texas rose about 51.9%.
Affordability
On average, housing unit costs 3.7 yearly household incomes in Euless.
Buying the median-priced home in Euless costs roughly 16.1 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 Euless. The price-to-rent ratio in Texas is about 15.5.
| Metric | Euless | Texas Avg | US Average |
|---|---|---|---|
| Median Home Price | $298,795 | $248,418 | $242,182 |
| Median Household Income | $80,095 | $76,510 | $78,145 |
| Price-to-Income Ratio | 3.7 | 3.2 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Euless rose about 65.9%, while median household income rose about 51.1% 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 | Euless | Texas Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 36.4% | 56.5% | 58.2% |
| Rental Rate | 57.6% | 33.8% | 31.3% |
| Vacancy Rate | 6.0% | 9.6% | 10.6% |
| Median Tenure (years) | 10.0 | 14.0 | 15.0 |
| Median Year Moved In | 2016 | 2012 | 2011 |
Euless has a homeownership rate of 36.4%, lower than the Texas average of 56.5%. Its housing vacancy rate is 6.0%, compared with 9.6% in Texas.
Housing Stock
| Metric | Euless | Texas Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.47 people | 2.70 people | 2.54 people |
| Median Structure Built Year | 1988 | 1989 | 1978 |
| Median Number of Rooms | 4.5 | 5.4 | 5.5 |
The typical housing unit in Euless was built around 1988. On average, 2.5 people live in a home with about 4.5 rooms, staying for about 10.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Euless, Texas.
What is the median home price in Euless, Texas?
The median home price in Euless, Texas is $298,795, higher than the Texas average of $248,418.
What is the average home price in Euless, 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 Euless, Texas?
The median gross rent in Euless, Texas is $1,548 per month, higher than the Texas average of $1,338.
What was the median gross rent in Euless in 2020?
In 2020, the median gross rent in Euless, Texas was $1,195 per month.
What is the price-to-rent ratio in Euless, Texas?
The price-to-rent ratio in Euless, Texas is about 16.1, meaning it would take roughly 16.1 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 Euless.
Are home prices or rent rising faster in Euless, Texas?
Both home prices and rent are rising in Euless, up about 14.5% and 6.7% a year respectively. Home prices are changing faster.
What is the homeownership rate in Euless, Texas?
36.4% of households in Euless, Texas own their home, lower than the Texas average of 56.5%.
What is the vacancy rate in Euless, Texas?
The housing vacancy rate in Euless, Texas is 6.0%, lower than the Texas average of 9.6%.