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 | Hopkins County | Texas Avg | US Average |
|---|---|---|---|
| Median Home Price | $80,625 | $248,418 | $242,182 |
| Price Trend (Annual %) | -8.4% | 9.9% | 8.2% |
| Median Gross Rent | $1,038 | $1,338 | $1,342 |
| Rent Trend (Annual %) | 6.0% | 5.7% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Hopkins County is about 68% lower than in Texas. Rent is about 22% lower than the Texas average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2023
Median Rent Prices, 2015-2023
Home prices and rent are moving in opposite directions in Hopkins County: home prices fell about 8.4% a year while rent rose about 6.0% a year. That is an unusual pattern worth watching.
Median rent in Hopkins County rose about 53.6% between 2015 and 2023, from $676 to $1,038. Over the same span, rent in Texas rose about 51.9%.
Affordability
On average, housing unit costs 1.3 yearly household incomes in Hopkins County.
Buying the median-priced home in Hopkins County costs roughly 6.5 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 Hopkins County. The price-to-rent ratio in Texas is about 15.5.
| Metric | Hopkins County | Texas Avg | US Average |
|---|---|---|---|
| Median Home Price | $80,625 | $248,418 | $242,182 |
| Median Household Income | $63,433 | $76,510 | $78,145 |
| Price-to-Income Ratio | 1.3 | 3.2 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Hopkins County fell about 50.2%, while median household income rose about 58.7% 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 | Hopkins County | Texas Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 61.4% | 56.5% | 58.2% |
| Rental Rate | 26.4% | 33.8% | 31.3% |
| Vacancy Rate | 12.1% | 9.6% | 10.6% |
| Median Tenure (years) | 14.0 | 14.0 | 15.0 |
| Median Year Moved In | 2012 | 2012 | 2011 |
Hopkins County has a homeownership rate of 61.4%, higher than the Texas average of 56.5%. Its housing vacancy rate is 12.1%, compared with 9.6% in Texas.
Housing Stock
| Metric | Hopkins County | Texas Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.66 people | 2.70 people | 2.54 people |
| Median Structure Built Year | 1985 | 1989 | 1978 |
| Median Number of Rooms | 5.4 | 5.4 | 5.5 |
The typical housing unit in Hopkins County was built around 1985. On average, 2.7 people live in a home with about 5.4 rooms, staying for about 14.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Hopkins County, Texas.
What is the median home price in Hopkins County, Texas?
The median home price in Hopkins County, Texas is $80,625, lower than the Texas average of $248,418.
What is the average home price in Hopkins 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 Hopkins County, Texas?
The median gross rent in Hopkins County, Texas is $1,038 per month, lower than the Texas average of $1,338.
What was the median gross rent in Hopkins County in 2020?
In 2020, the median gross rent in Hopkins County, Texas was $835 per month.
What is the price-to-rent ratio in Hopkins County, Texas?
The price-to-rent ratio in Hopkins County, Texas is about 6.5, meaning it would take roughly 6.5 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 Hopkins County.
Are home prices or rent rising faster in Hopkins County, Texas?
Home prices and rent are moving in opposite directions in Hopkins County: home prices fell about 8.4% a year while rent rose about 6.0% a year. That is an unusual pattern worth watching.
What is the homeownership rate in Hopkins County, Texas?
61.4% of households in Hopkins County, Texas own their home, higher than the Texas average of 56.5%.
What is the vacancy rate in Hopkins County, Texas?
The housing vacancy rate in Hopkins County, Texas is 12.1%, higher than the Texas average of 9.6%.