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 | Howard County | Texas Avg | US Average |
|---|---|---|---|
| Median Home Price | $227,325 | $248,418 | $242,182 |
| Price Trend (Annual %) | 26.0% | 9.9% | 8.2% |
| Median Gross Rent | $993 | $1,338 | $1,342 |
| Rent Trend (Annual %) | 2.7% | 5.7% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Howard County is about 8% lower than in Texas. Rent is about 26% 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 Howard County, up about 26.0% and 2.7% a year respectively. Home prices are changing faster.
Median rent in Howard County rose about 27.5% between 2015 and 2023, from $778 to $993. Over the same span, rent in Texas rose about 51.9%.
Affordability
On average, housing unit costs 3.2 yearly household incomes in Howard County.
Buying the median-priced home in Howard County costs roughly 19.1 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 Howard County. The price-to-rent ratio in Texas is about 15.5.
| Metric | Howard County | Texas Avg | US Average |
|---|---|---|---|
| Median Home Price | $227,325 | $248,418 | $242,182 |
| Median Household Income | $71,720 | $76,510 | $78,145 |
| Price-to-Income Ratio | 3.2 | 3.2 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Howard County rose about 223.5%, while median household income rose about 95.0% between 2009 and 2023 — 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 | Howard County | Texas Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 58.5% | 56.5% | 58.2% |
| Rental Rate | 26.7% | 33.8% | 31.3% |
| Vacancy Rate | 14.8% | 9.6% | 10.6% |
| Median Tenure (years) | 14.0 | 14.0 | 15.0 |
| Median Year Moved In | 2012 | 2012 | 2011 |
Howard County has a homeownership rate of 58.5%, higher than the Texas average of 56.5%. Its housing vacancy rate is 14.8%, compared with 9.6% in Texas.
Housing Stock
| Metric | Howard County | Texas Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.47 people | 2.70 people | 2.54 people |
| Median Structure Built Year | 1968 | 1989 | 1978 |
| Median Number of Rooms | 5.3 | 5.4 | 5.5 |
The typical housing unit in Howard County was built around 1968. On average, 2.5 people live in a home with about 5.3 rooms, staying for about 14.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Howard County, Texas.
What is the median home price in Howard County, Texas?
The median home price in Howard County, Texas is $227,325, lower than the Texas average of $248,418.
What is the average home price in Howard 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 Howard County, Texas?
The median gross rent in Howard County, Texas is $993 per month, lower than the Texas average of $1,338.
What was the median gross rent in Howard County in 2020?
In 2020, the median gross rent in Howard County, Texas was $868 per month.
What is the price-to-rent ratio in Howard County, Texas?
The price-to-rent ratio in Howard County, Texas is about 19.1, meaning it would take roughly 19.1 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 Howard County.
Are home prices or rent rising faster in Howard County, Texas?
Both home prices and rent are rising in Howard County, up about 26.0% and 2.7% a year respectively. Home prices are changing faster.
What is the homeownership rate in Howard County, Texas?
58.5% of households in Howard County, Texas own their home, higher than the Texas average of 56.5%.
What is the vacancy rate in Howard County, Texas?
The housing vacancy rate in Howard County, Texas is 14.8%, higher than the Texas average of 9.6%.