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 | Floyd County | Texas Avg | US Average |
|---|---|---|---|
| Median Home Price | $218,750 | $248,418 | $242,182 |
| Price Trend (Annual %) | 57.5% | 9.9% | 8.2% |
| Median Gross Rent | $586 | $1,338 | $1,342 |
| Rent Trend (Annual %) | -1.4% | 5.7% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Floyd County is about 12% lower than in Texas. Rent is about 56% lower than the Texas average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2023
Median Rent Prices, 2015-2023
Home prices and rent are moving in opposite directions in Floyd County: home prices rose about 57.5% a year while rent fell about 1.4% a year. That is an unusual pattern worth watching.
Median rent in Floyd County fell about 8.6% between 2015 and 2023, from $641 to $586. Over the same span, rent in Texas rose about 51.9%.
Affordability
On average, housing unit costs 3.9 yearly household incomes in Floyd County.
Buying the median-priced home in Floyd County costs roughly 31.1 years of rent at the median monthly rate. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Floyd County. The price-to-rent ratio in Texas is about 15.5.
| Metric | Floyd County | Texas Avg | US Average |
|---|---|---|---|
| Median Home Price | $218,750 | $248,418 | $242,182 |
| Median Household Income | $55,615 | $76,510 | $78,145 |
| Price-to-Income Ratio | 3.9 | 3.2 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Floyd County rose about 729.7%, while median household income rose about 72.5% 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 | Floyd County | Texas Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 56.1% | 56.5% | 58.2% |
| Rental Rate | 18.5% | 33.8% | 31.3% |
| Vacancy Rate | 25.5% | 9.6% | 10.6% |
| Median Tenure (years) | 16.0 | 14.0 | 15.0 |
| Median Year Moved In | 2010 | 2012 | 2011 |
Floyd County has a homeownership rate of 56.1%, about the same as the Texas average of 56.5%. Its housing vacancy rate is 25.5%, compared with 9.6% in Texas.
Housing Stock
| Metric | Floyd County | Texas Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.72 people | 2.70 people | 2.54 people |
| Median Structure Built Year | 1962 | 1989 | 1978 |
| Median Number of Rooms | 5.6 | 5.4 | 5.5 |
The typical housing unit in Floyd County was built around 1962. On average, 2.7 people live in a home with about 5.6 rooms, staying for about 16.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Floyd County, Texas.
What is the median home price in Floyd County, Texas?
The median home price in Floyd County, Texas is $218,750, lower than the Texas average of $248,418.
What is the average home price in Floyd 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 Floyd County, Texas?
The median gross rent in Floyd County, Texas is $586 per month, lower than the Texas average of $1,338.
What was the median gross rent in Floyd County in 2020?
In 2020, the median gross rent in Floyd County, Texas was $709 per month.
What is the price-to-rent ratio in Floyd County, Texas?
The price-to-rent ratio in Floyd County, Texas is about 31.1, meaning it would take roughly 31.1 years of rent payments at the median rent to equal the median home price. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Floyd County.
Are home prices or rent rising faster in Floyd County, Texas?
Home prices and rent are moving in opposite directions in Floyd County: home prices rose about 57.5% a year while rent fell about 1.4% a year. That is an unusual pattern worth watching.
What is the homeownership rate in Floyd County, Texas?
56.1% of households in Floyd County, Texas own their home, lower than the Texas average of 56.5%.
What is the vacancy rate in Floyd County, Texas?
The housing vacancy rate in Floyd County, Texas is 25.5%, higher than the Texas average of 9.6%.