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 | Hidalgo County | Texas Avg | US Average |
|---|---|---|---|
| Median Home Price | $139,402 | $248,418 | $242,182 |
| Price Trend (Annual %) | 5.4% | 9.9% | 8.2% |
| Median Gross Rent | $925 | $1,338 | $1,342 |
| Rent Trend (Annual %) | 4.6% | 5.7% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Hidalgo County is about 44% lower than in Texas. Rent is about 31% 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 Hidalgo County, up about 5.4% and 4.6% a year respectively. Home prices are changing faster.
Median rent in Hidalgo County rose about 39.9% between 2015 and 2023, from $661 to $925. Over the same span, rent in Texas rose about 51.9%.
Affordability
On average, housing unit costs 2.7 yearly household incomes in Hidalgo County.
Buying the median-priced home in Hidalgo County costs roughly 12.6 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 Hidalgo County. The price-to-rent ratio in Texas is about 15.5.
| Metric | Hidalgo County | Texas Avg | US Average |
|---|---|---|---|
| Median Home Price | $139,402 | $248,418 | $242,182 |
| Median Household Income | $52,210 | $76,510 | $78,145 |
| Price-to-Income Ratio | 2.7 | 3.2 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Hidalgo County rose about 11.0%, while median household income rose about 73.6% 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 | Hidalgo County | Texas Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 59.1% | 56.5% | 58.2% |
| Rental Rate | 28.3% | 33.8% | 31.3% |
| Vacancy Rate | 12.6% | 9.6% | 10.6% |
| Median Tenure (years) | 16.0 | 14.0 | 15.0 |
| Median Year Moved In | 2010 | 2012 | 2011 |
Hidalgo County has a homeownership rate of 59.1%, higher than the Texas average of 56.5%. Its housing vacancy rate is 12.6%, compared with 9.6% in Texas.
Housing Stock
| Metric | Hidalgo County | Texas Avg | US Average |
|---|---|---|---|
| Average Household Size | 3.30 people | 2.70 people | 2.54 people |
| Median Structure Built Year | 1997 | 1989 | 1978 |
| Median Number of Rooms | 4.9 | 5.4 | 5.5 |
The typical housing unit in Hidalgo County was built around 1997. On average, 3.3 people live in a home with about 4.9 rooms, staying for about 16.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Hidalgo County, Texas.
What is the median home price in Hidalgo County, Texas?
The median home price in Hidalgo County, Texas is $139,402, lower than the Texas average of $248,418.
What is the average home price in Hidalgo 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 Hidalgo County, Texas?
The median gross rent in Hidalgo County, Texas is $925 per month, lower than the Texas average of $1,338.
What was the median gross rent in Hidalgo County in 2020?
In 2020, the median gross rent in Hidalgo County, Texas was $753 per month.
What is the price-to-rent ratio in Hidalgo County, Texas?
The price-to-rent ratio in Hidalgo County, Texas is about 12.6, meaning it would take roughly 12.6 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 Hidalgo County.
Are home prices or rent rising faster in Hidalgo County, Texas?
Both home prices and rent are rising in Hidalgo County, up about 5.4% and 4.6% a year respectively. Home prices are changing faster.
What is the homeownership rate in Hidalgo County, Texas?
59.1% of households in Hidalgo County, Texas own their home, higher than the Texas average of 56.5%.
What is the vacancy rate in Hidalgo County, Texas?
The housing vacancy rate in Hidalgo County, Texas is 12.6%, higher than the Texas average of 9.6%.