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 | Fort Worth | Texas Avg | US Average |
|---|---|---|---|
| Median Home Price | $306,338 | $248,418 | $242,182 |
| Price Trend (Annual %) | 16.6% | 9.9% | 8.2% |
| Median Gross Rent | $1,407 | $1,338 | $1,342 |
| Rent Trend (Annual %) | 6.2% | 5.7% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Fort Worth is about 23% higher than in Texas. Rent is about 5% 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 Fort Worth, up about 16.6% and 6.2% a year respectively. Home prices are changing faster.
Median rent in Fort Worth rose about 58.9% between 2015 and 2023, from $885 to $1,407. Over the same span, rent in Texas rose about 51.9%.
Affordability
On average, housing unit costs 4.0 yearly household incomes in Fort Worth.
Buying the median-priced home in Fort Worth costs roughly 18.1 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 Fort Worth. The price-to-rent ratio in Texas is about 15.5.
| Metric | Fort Worth | Texas Avg | US Average |
|---|---|---|---|
| Median Home Price | $306,338 | $248,418 | $242,182 |
| Median Household Income | $76,348 | $76,510 | $78,145 |
| Price-to-Income Ratio | 4.0 | 3.2 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Fort Worth rose about 160.8%, while median household income rose about 62.2% 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 | Fort Worth | Texas Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 51.2% | 56.5% | 58.2% |
| Rental Rate | 40.2% | 33.8% | 31.3% |
| Vacancy Rate | 8.6% | 9.6% | 10.6% |
| Median Tenure (years) | 11.0 | 14.0 | 15.0 |
| Median Year Moved In | 2015 | 2012 | 2011 |
Fort Worth has a homeownership rate of 51.2%, lower than the Texas average of 56.5%. Its housing vacancy rate is 8.6%, compared with 9.6% in Texas.
Housing Stock
| Metric | Fort Worth | Texas Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.75 people | 2.70 people | 2.54 people |
| Median Structure Built Year | 1988 | 1989 | 1978 |
| Median Number of Rooms | 5.3 | 5.4 | 5.5 |
The typical housing unit in Fort Worth was built around 1988. On average, 2.8 people live in a home with about 5.3 rooms, staying for about 11.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Fort Worth, Texas.
What is the median home price in Fort Worth, Texas?
The median home price in Fort Worth, Texas is $306,338, higher than the Texas average of $248,418.
What is the average home price in Fort Worth, 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 Fort Worth, Texas?
The median gross rent in Fort Worth, Texas is $1,407 per month, higher than the Texas average of $1,338.
What was the median gross rent in Fort Worth in 2020?
In 2020, the median gross rent in Fort Worth, Texas was $1,109 per month.
What is the price-to-rent ratio in Fort Worth, Texas?
The price-to-rent ratio in Fort Worth, Texas is about 18.1, meaning it would take roughly 18.1 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 Fort Worth.
Are home prices or rent rising faster in Fort Worth, Texas?
Both home prices and rent are rising in Fort Worth, up about 16.6% and 6.2% a year respectively. Home prices are changing faster.
What is the homeownership rate in Fort Worth, Texas?
51.2% of households in Fort Worth, Texas own their home, lower than the Texas average of 56.5%.
What is the vacancy rate in Fort Worth, Texas?
The housing vacancy rate in Fort Worth, Texas is 8.6%, lower than the Texas average of 9.6%.