Gray County, Texas Housing Market Prices
Gray County 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 57% below the Texas median Cheaper than 71% of counties in Texas$112,499
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Median rent 33% below the Texas median$932
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Gray County | Texas Avg | US Average |
|---|---|---|---|
| Median Home Price | $112,499 | $258,873 | $248,835 |
| Price Trend (Annual %) | 30.8% | 9.2% | 7.5% |
| Median Gross Rent | $932 | $1,402 | $1,407 |
| Rent Trend (Annual %) | 3.6% | 5.6% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Gray County is about 57% lower than in Texas. Rent is about 33% lower 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 Gray County, up about 30.8% and 3.6% a year respectively. Home prices are changing faster.
Median rent in Gray County rose about 38.4% between 2015 and 2024, from $674 to $932. Over the same span, rent in Texas rose about 59.1%.
Affordability
On average, housing unit costs 1.9 yearly household incomes in Gray County.
Buying the median-priced home in Gray County costs roughly 10.1 years of rent at the median monthly rate. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Gray County. The price-to-rent ratio in Texas is about 15.4.
| Metric | Gray County | Texas Avg | US Average |
|---|---|---|---|
| Median Home Price | $112,499 | $258,873 | $248,835 |
| Median Household Income | $59,733 | $78,939 | $80,455 |
| Price-to-Income Ratio | 1.9 | 3.3 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Gray County rose about 186.3%, while median household income rose about 54.2% 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 | Gray County | Texas Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 61.3% | 56.7% | 58.5% |
| Rental Rate | 19.0% | 33.9% | 31.2% |
| Vacancy Rate | 19.7% | 9.4% | 10.2% |
| Median Tenure (years) | 13.0 | 14.0 | 15.0 |
| Median Year Moved In | 2013 | 2012 | 2011 |
Gray County has a homeownership rate of 61.3%, higher than the Texas average of 56.7%. Its housing vacancy rate is 19.7%, compared with 9.4% in Texas.
Housing Stock
| Metric | Gray County | Texas Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.42 people | 2.69 people | 2.53 people |
| Median Structure Built Year | 1963 | 1990 | 1978 |
| Median Number of Rooms | 5.4 | 5.4 | 5.5 |
The typical housing unit in Gray County was built around 1963. On average, 2.4 people live in a home with about 5.4 rooms, staying for about 13.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Gray County, Texas.
What is the median home price in Gray County, Texas?
The median home price in Gray County, Texas is $112,499, lower than the Texas average of $258,873.
What is the average home price in Gray County, Texas?
The typical home price in Gray County, Texas, reported as the median sale price, is $112,499. 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 Gray County, Texas?
The median gross rent in Gray County, Texas is $932 per month, lower than the Texas average of $1,402.
What was the median gross rent in Gray County in 2020?
In 2020, the median gross rent in Gray County, Texas was $739 per month.
What is the price-to-rent ratio in Gray County, Texas?
The price-to-rent ratio in Gray County, Texas is about 10.1, meaning it would take roughly 10.1 years of rent payments at the median rent to equal the median home price. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Gray County.
Are home prices or rent rising faster in Gray County, Texas?
Both home prices and rent are rising in Gray County, up about 30.8% and 3.6% a year respectively. Home prices are changing faster.
What is the homeownership rate in Gray County, Texas?
61.3% of households in Gray County, Texas own their home, higher than the Texas average of 56.7%.
What is the vacancy rate in Gray County, Texas?
The housing vacancy rate in Gray County, Texas is 19.7%, higher than the Texas average of 9.4%.
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