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 | Falls County | Texas Avg | US Average |
|---|---|---|---|
| Median Home Price | $58,888 | $248,418 | $242,182 |
| Price Trend (Annual %) | 1.0% | 9.9% | 8.2% |
| Median Gross Rent | $746 | $1,338 | $1,342 |
| Rent Trend (Annual %) | 4.7% | 5.7% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Falls County is about 76% lower than in Texas. Rent is about 44% lower than the Texas average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2022
Median Rent Prices, 2015-2023
Both home prices and rent are rising in Falls County, up about 1.0% and 4.7% a year respectively. Rent is changing faster.
Median rent in Falls County rose about 31.0% between 2015 and 2023, from $569 to $746. Over the same span, rent in Texas rose about 51.9%.
Affordability
On average, housing unit costs 1.1 yearly household incomes in Falls County.
Buying the median-priced home in Falls County costs roughly 6.6 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 Falls County. The price-to-rent ratio in Texas is about 15.5.
| Metric | Falls County | Texas Avg | US Average |
|---|---|---|---|
| Median Home Price | $58,888 | $248,418 | $242,182 |
| Median Household Income | $53,991 | $76,510 | $78,145 |
| Price-to-Income Ratio | 1.1 | 3.2 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2022, the median home price in Falls County fell about 18.8%, while median household income rose about 77.2% 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 | Falls County | Texas Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 63.3% | 56.5% | 58.2% |
| Rental Rate | 17.4% | 33.8% | 31.3% |
| Vacancy Rate | 19.3% | 9.6% | 10.6% |
| Median Tenure (years) | 17.0 | 14.0 | 15.0 |
| Median Year Moved In | 2009 | 2012 | 2011 |
Falls County has a homeownership rate of 63.3%, higher than the Texas average of 56.5%. Its housing vacancy rate is 19.3%, compared with 9.6% in Texas.
Housing Stock
| Metric | Falls County | Texas Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.52 people | 2.70 people | 2.54 people |
| Median Structure Built Year | 1980 | 1989 | 1978 |
| Median Number of Rooms | 5.3 | 5.4 | 5.5 |
The typical housing unit in Falls County was built around 1980. On average, 2.5 people live in a home with about 5.3 rooms, staying for about 17.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Falls County, Texas.
What is the median home price in Falls County, Texas?
The median home price in Falls County, Texas is $58,888, lower than the Texas average of $248,418.
What is the average home price in Falls 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 Falls County, Texas?
The median gross rent in Falls County, Texas is $746 per month, lower than the Texas average of $1,338.
What was the median gross rent in Falls County in 2020?
In 2020, the median gross rent in Falls County, Texas was $552 per month.
What is the price-to-rent ratio in Falls County, Texas?
The price-to-rent ratio in Falls County, Texas is about 6.6, meaning it would take roughly 6.6 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 Falls County.
Are home prices or rent rising faster in Falls County, Texas?
Both home prices and rent are rising in Falls County, up about 1.0% and 4.7% a year respectively. Rent is changing faster.
What is the homeownership rate in Falls County, Texas?
63.3% of households in Falls County, Texas own their home, higher than the Texas average of 56.5%.
What is the vacancy rate in Falls County, Texas?
The housing vacancy rate in Falls County, Texas is 19.3%, higher than the Texas average of 9.6%.