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 | Fannin County | Texas Avg | US Average |
|---|---|---|---|
| Median Home Price | $154,508 | $248,418 | $242,182 |
| Price Trend (Annual %) | 11.7% | 9.9% | 8.2% |
| Median Gross Rent | $993 | $1,338 | $1,342 |
| Rent Trend (Annual %) | 5.0% | 5.7% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Fannin County is about 38% lower than in Texas. Rent is about 26% 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 Fannin County, up about 11.7% and 5.0% a year respectively. Home prices are changing faster.
Median rent in Fannin County rose about 44.5% between 2015 and 2023, from $687 to $993. Over the same span, rent in Texas rose about 51.9%.
Affordability
On average, housing unit costs 2.3 yearly household incomes in Fannin County.
Buying the median-priced home in Fannin County costs roughly 13.0 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 Fannin County. The price-to-rent ratio in Texas is about 15.5.
| Metric | Fannin County | Texas Avg | US Average |
|---|---|---|---|
| Median Home Price | $154,508 | $248,418 | $242,182 |
| Median Household Income | $68,116 | $76,510 | $78,145 |
| Price-to-Income Ratio | 2.3 | 3.2 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Fannin County rose about 89.2%, while median household income rose about 61.1% 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 | Fannin County | Texas Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 65.5% | 56.5% | 58.2% |
| Rental Rate | 21.3% | 33.8% | 31.3% |
| Vacancy Rate | 13.2% | 9.6% | 10.6% |
| Median Tenure (years) | 15.0 | 14.0 | 15.0 |
| Median Year Moved In | 2011 | 2012 | 2011 |
Fannin County has a homeownership rate of 65.5%, higher than the Texas average of 56.5%. Its housing vacancy rate is 13.2%, compared with 9.6% in Texas.
Housing Stock
| Metric | Fannin County | Texas Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.62 people | 2.70 people | 2.54 people |
| Median Structure Built Year | 1986 | 1989 | 1978 |
| Median Number of Rooms | 5.7 | 5.4 | 5.5 |
The typical housing unit in Fannin County was built around 1986. On average, 2.6 people live in a home with about 5.7 rooms, staying for about 15.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Fannin County, Texas.
What is the median home price in Fannin County, Texas?
The median home price in Fannin County, Texas is $154,508, lower than the Texas average of $248,418.
What is the average home price in Fannin 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 Fannin County, Texas?
The median gross rent in Fannin County, Texas is $993 per month, lower than the Texas average of $1,338.
What was the median gross rent in Fannin County in 2020?
In 2020, the median gross rent in Fannin County, Texas was $858 per month.
What is the price-to-rent ratio in Fannin County, Texas?
The price-to-rent ratio in Fannin County, Texas is about 13.0, meaning it would take roughly 13.0 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 Fannin County.
Are home prices or rent rising faster in Fannin County, Texas?
Both home prices and rent are rising in Fannin County, up about 11.7% and 5.0% a year respectively. Home prices are changing faster.
What is the homeownership rate in Fannin County, Texas?
65.5% of households in Fannin County, Texas own their home, higher than the Texas average of 56.5%.
What is the vacancy rate in Fannin County, Texas?
The housing vacancy rate in Fannin County, Texas is 13.2%, higher than the Texas average of 9.6%.