Grand Prairie, Texas Housing Market Prices
Grand Prairie Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 36% above the Texas median$351,556
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Median rent 17% above the Texas median$1,634
Housing Market Overview
| Metric | Grand Prairie | Texas Avg | US Average |
|---|---|---|---|
| Median Home Price | $351,556 | $258,873 | $248,835 |
| Price Trend (Annual %) | 14.8% | 9.2% | 7.5% |
| Median Gross Rent | $1,634 | $1,402 | $1,407 |
| Rent Trend (Annual %) | 7.0% | 5.6% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Grand Prairie is about 36% higher than in Texas. Rent is about 17% higher than the Texas average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Grand Prairie, up about 14.8% and 7.0% a year respectively. Home prices are changing faster.
Median rent in Grand Prairie rose about 75.8% between 2015 and 2024, from $929 to $1,634. Over the same span, rent in Texas rose about 59.1%.
Affordability
On average, housing unit costs 4.3 yearly household incomes in Grand Prairie.
Buying the median-priced home in Grand Prairie costs roughly 17.9 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 Grand Prairie. The price-to-rent ratio in Texas is about 15.4.
| Metric | Grand Prairie | Texas Avg | US Average |
|---|---|---|---|
| Median Home Price | $351,556 | $258,873 | $248,835 |
| Median Household Income | $82,716 | $78,939 | $80,455 |
| Price-to-Income Ratio | 4.3 | 3.3 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Grand Prairie rose about 252.4%, while median household income rose about 52.2% between 2009 and 2025 — 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 | Grand Prairie | Texas Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 55.7% | 56.7% | 58.5% |
| Rental Rate | 39.3% | 33.9% | 31.2% |
| Vacancy Rate | 5.0% | 9.4% | 10.2% |
| Median Tenure (years) | 13.0 | 14.0 | 15.0 |
| Median Year Moved In | 2013 | 2012 | 2011 |
Grand Prairie has a homeownership rate of 55.7%, lower than the Texas average of 56.7%. Its housing vacancy rate is 5.0%, compared with 9.4% in Texas.
Housing Stock
| Metric | Grand Prairie | Texas Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.93 people | 2.69 people | 2.53 people |
| Median Structure Built Year | 1991 | 1990 | 1978 |
| Median Number of Rooms | 5.4 | 5.4 | 5.5 |
The typical housing unit in Grand Prairie was built around 1991. On average, 2.9 people live in a home with about 5.4 rooms, staying for about 13.0 years on average.
Grand Prairie, TX Housing Compared With Nearby Cities
How Grand Prairie, TX compares with the 1 cities closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Grand Prairie, TX | 192,941 | $351,556 #1/2 | $1,634 #1/2 | 58.6% #1/2 |
| Arlington, TX | 395,028 | $283,555 | $1,469 | 54.5% |
Frequently Asked Questions
Common questions about the housing market in Grand Prairie, Texas.
What is the median home price in Grand Prairie, Texas?
The median home price in Grand Prairie, Texas is $351,556, higher than the Texas average of $258,873.
What is the average home price in Grand Prairie, Texas?
The typical home price in Grand Prairie, Texas, reported as the median sale price, is $351,556. 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 Grand Prairie, Texas?
The median gross rent in Grand Prairie, Texas is $1,634 per month, higher than the Texas average of $1,402.
What was the median gross rent in Grand Prairie in 2020?
In 2020, the median gross rent in Grand Prairie, Texas was $1,161 per month.
What is the price-to-rent ratio in Grand Prairie, Texas?
The price-to-rent ratio in Grand Prairie, Texas is about 17.9, meaning it would take roughly 17.9 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 Grand Prairie.
Are home prices or rent rising faster in Grand Prairie, Texas?
Both home prices and rent are rising in Grand Prairie, up about 14.8% and 7.0% a year respectively. Home prices are changing faster.
What is the homeownership rate in Grand Prairie, Texas?
55.7% of households in Grand Prairie, Texas own their home, lower than the Texas average of 56.7%.
What is the vacancy rate in Grand Prairie, Texas?
The housing vacancy rate in Grand Prairie, Texas is 5.0%, lower than the Texas average of 9.4%.
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