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 | Gillespie County | Texas Avg | US Average |
|---|---|---|---|
| Median Home Price | $295,901 | $248,418 | $242,182 |
| Price Trend (Annual %) | 4.8% | 9.9% | 8.2% |
| Median Gross Rent | $1,331 | $1,338 | $1,342 |
| Rent Trend (Annual %) | 6.1% | 5.7% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Gillespie County is about 19% higher than in Texas. Rent is about 1% 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 Gillespie County, up about 4.8% and 6.1% a year respectively. Rent is changing faster.
Median rent in Gillespie County rose about 53.8% between 2015 and 2023, from $865 to $1,331. Over the same span, rent in Texas rose about 51.9%.
Affordability
On average, housing unit costs 4.3 yearly household incomes in Gillespie County.
Buying the median-priced home in Gillespie County costs roughly 18.5 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 Gillespie County. The price-to-rent ratio in Texas is about 15.5.
| Metric | Gillespie County | Texas Avg | US Average |
|---|---|---|---|
| Median Home Price | $295,901 | $248,418 | $242,182 |
| Median Household Income | $69,011 | $76,510 | $78,145 |
| Price-to-Income Ratio | 4.3 | 3.2 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Gillespie County rose about 46.3%, while median household income rose about 32.9% 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 | Gillespie County | Texas Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 56.1% | 56.5% | 58.2% |
| Rental Rate | 22.9% | 33.8% | 31.3% |
| Vacancy Rate | 20.9% | 9.6% | 10.6% |
| Median Tenure (years) | 15.0 | 14.0 | 15.0 |
| Median Year Moved In | 2011 | 2012 | 2011 |
Gillespie County has a homeownership rate of 56.1%, about the same as the Texas average of 56.5%. Its housing vacancy rate is 20.9%, compared with 9.6% in Texas.
Housing Stock
| Metric | Gillespie County | Texas Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.38 people | 2.70 people | 2.54 people |
| Median Structure Built Year | 1988 | 1989 | 1978 |
| Median Number of Rooms | 5.6 | 5.4 | 5.5 |
The typical housing unit in Gillespie County was built around 1988. On average, 2.4 people live in a home with about 5.6 rooms, staying for about 15.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Gillespie County, Texas.
What is the median home price in Gillespie County, Texas?
The median home price in Gillespie County, Texas is $295,901, higher than the Texas average of $248,418.
What is the average home price in Gillespie 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 Gillespie County, Texas?
The median gross rent in Gillespie County, Texas is $1,331 per month, lower than the Texas average of $1,338.
What was the median gross rent in Gillespie County in 2020?
In 2020, the median gross rent in Gillespie County, Texas was $992 per month.
What is the price-to-rent ratio in Gillespie County, Texas?
The price-to-rent ratio in Gillespie County, Texas is about 18.5, meaning it would take roughly 18.5 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 Gillespie County.
Are home prices or rent rising faster in Gillespie County, Texas?
Both home prices and rent are rising in Gillespie County, up about 4.8% and 6.1% a year respectively. Rent is changing faster.
What is the homeownership rate in Gillespie County, Texas?
56.1% of households in Gillespie County, Texas own their home, lower than the Texas average of 56.5%.
What is the vacancy rate in Gillespie County, Texas?
The housing vacancy rate in Gillespie County, Texas is 20.9%, higher than the Texas average of 9.6%.