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 | Hardeman County | Texas Avg | US Average |
|---|---|---|---|
| Median Home Price | $99,264 | $248,418 | $242,182 |
| Price Trend (Annual %) | 61.6% | 9.9% | 8.2% |
| Median Gross Rent | $687 | $1,338 | $1,342 |
| Rent Trend (Annual %) | 4.9% | 5.7% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Hardeman County is about 60% lower than in Texas. Rent is about 49% 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 Hardeman County, up about 61.6% and 4.9% a year respectively. Home prices are changing faster.
Median rent in Hardeman County rose about 33.2% between 2015 and 2023, from $516 to $687. Over the same span, rent in Texas rose about 51.9%.
Affordability
On average, housing unit costs 1.6 yearly household incomes in Hardeman County.
Buying the median-priced home in Hardeman County costs roughly 12.0 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 Hardeman County. The price-to-rent ratio in Texas is about 15.5.
| Metric | Hardeman County | Texas Avg | US Average |
|---|---|---|---|
| Median Home Price | $99,264 | $248,418 | $242,182 |
| Median Household Income | $62,358 | $76,510 | $78,145 |
| Price-to-Income Ratio | 1.6 | 3.2 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Hardeman County rose about 35.1%, while median household income rose about 67.5% between 2009 and 2023 — income grew faster than the home price.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Hardeman County | Texas Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 48.4% | 56.5% | 58.2% |
| Rental Rate | 21.1% | 33.8% | 31.3% |
| Vacancy Rate | 30.4% | 9.6% | 10.6% |
| Median Tenure (years) | 15.0 | 14.0 | 15.0 |
| Median Year Moved In | 2011 | 2012 | 2011 |
Hardeman County has a homeownership rate of 48.4%, lower than the Texas average of 56.5%. Its housing vacancy rate is 30.4%, compared with 9.6% in Texas.
Housing Stock
| Metric | Hardeman County | Texas Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.69 people | 2.70 people | 2.54 people |
| Median Structure Built Year | 1960 | 1989 | 1978 |
| Median Number of Rooms | 4.8 | 5.4 | 5.5 |
The typical housing unit in Hardeman County was built around 1960. On average, 2.7 people live in a home with about 4.8 rooms, staying for about 15.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Hardeman County, Texas.
What is the median home price in Hardeman County, Texas?
The median home price in Hardeman County, Texas is $99,264, lower than the Texas average of $248,418.
What is the average home price in Hardeman 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 Hardeman County, Texas?
The median gross rent in Hardeman County, Texas is $687 per month, lower than the Texas average of $1,338.
What was the median gross rent in Hardeman County in 2020?
In 2020, the median gross rent in Hardeman County, Texas was $472 per month.
What is the price-to-rent ratio in Hardeman County, Texas?
The price-to-rent ratio in Hardeman County, Texas is about 12.0, meaning it would take roughly 12.0 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 Hardeman County.
Are home prices or rent rising faster in Hardeman County, Texas?
Both home prices and rent are rising in Hardeman County, up about 61.6% and 4.9% a year respectively. Home prices are changing faster.
What is the homeownership rate in Hardeman County, Texas?
48.4% of households in Hardeman County, Texas own their home, lower than the Texas average of 56.5%.
What is the vacancy rate in Hardeman County, Texas?
The housing vacancy rate in Hardeman County, Texas is 30.4%, higher than the Texas average of 9.6%.