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 | Flower Mound | Texas Avg | US Average |
|---|---|---|---|
| Median Home Price | $480,684 | $248,418 | $242,182 |
| Price Trend (Annual %) | 5.4% | 9.9% | 8.2% |
| Median Gross Rent | $2,145 | $1,338 | $1,342 |
| Rent Trend (Annual %) | 4.8% | 5.7% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Flower Mound is about 93% higher than in Texas. Rent is about 60% 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 Flower Mound, up about 5.4% and 4.8% a year respectively. Home prices are changing faster.
Median rent in Flower Mound rose about 39.9% between 2015 and 2023, from $1,533 to $2,145. Over the same span, rent in Texas rose about 51.9%.
Affordability
On average, housing unit costs 3.1 yearly household incomes in Flower Mound.
Buying the median-priced home in Flower Mound costs roughly 18.7 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 Flower Mound. The price-to-rent ratio in Texas is about 15.5.
| Metric | Flower Mound | Texas Avg | US Average |
|---|---|---|---|
| Median Home Price | $480,684 | $248,418 | $242,182 |
| Median Household Income | $155,810 | $76,510 | $78,145 |
| Price-to-Income Ratio | 3.1 | 3.2 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Flower Mound rose about 85.9%, while median household income rose about 49.8% 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 | Flower Mound | Texas Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 78.2% | 56.5% | 58.2% |
| Rental Rate | 19.4% | 33.8% | 31.3% |
| Vacancy Rate | 2.4% | 9.6% | 10.6% |
| Median Tenure (years) | 14.0 | 14.0 | 15.0 |
| Median Year Moved In | 2012 | 2012 | 2011 |
Flower Mound has a homeownership rate of 78.2%, higher than the Texas average of 56.5%. Its housing vacancy rate is 2.4%, compared with 9.6% in Texas.
Housing Stock
| Metric | Flower Mound | Texas Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.77 people | 2.70 people | 2.54 people |
| Median Structure Built Year | 1998 | 1989 | 1978 |
| Median Number of Rooms | 7.5 | 5.4 | 5.5 |
The typical housing unit in Flower Mound was built around 1998. On average, 2.8 people live in a home with about 7.5 rooms, staying for about 14.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Flower Mound, Texas.
What is the median home price in Flower Mound, Texas?
The median home price in Flower Mound, Texas is $480,684, higher than the Texas average of $248,418.
What is the average home price in Flower Mound, 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 Flower Mound, Texas?
The median gross rent in Flower Mound, Texas is $2,145 per month, higher than the Texas average of $1,338.
What was the median gross rent in Flower Mound in 2020?
In 2020, the median gross rent in Flower Mound, Texas was $1,738 per month.
What is the price-to-rent ratio in Flower Mound, Texas?
The price-to-rent ratio in Flower Mound, Texas is about 18.7, meaning it would take roughly 18.7 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 Flower Mound.
Are home prices or rent rising faster in Flower Mound, Texas?
Both home prices and rent are rising in Flower Mound, up about 5.4% and 4.8% a year respectively. Home prices are changing faster.
What is the homeownership rate in Flower Mound, Texas?
78.2% of households in Flower Mound, Texas own their home, higher than the Texas average of 56.5%.
What is the vacancy rate in Flower Mound, Texas?
The housing vacancy rate in Flower Mound, Texas is 2.4%, lower than the Texas average of 9.6%.