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 | Jim Hogg County | Texas Avg | US Average |
|---|---|---|---|
| Median Home Price | $293,749 | $248,418 | $242,182 |
| Price Trend (Annual %) | 14.9% | 9.9% | 8.2% |
| Median Gross Rent | $820 | $1,338 | $1,342 |
| Rent Trend (Annual %) | 6.8% | 5.7% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Jim Hogg County is about 18% higher than in Texas. Rent is about 39% 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 Jim Hogg County, up about 14.9% and 6.8% a year respectively. Home prices are changing faster.
Median rent in Jim Hogg County rose about 67.6% between 2015 and 2023, from $489 to $820. Over the same span, rent in Texas rose about 51.9%.
Affordability
On average, housing unit costs 6.7 yearly household incomes in Jim Hogg County.
Buying the median-priced home in Jim Hogg County costs roughly 29.8 years of rent at the median monthly rate. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Jim Hogg County. The price-to-rent ratio in Texas is about 15.5.
| Metric | Jim Hogg County | Texas Avg | US Average |
|---|---|---|---|
| Median Home Price | $293,749 | $248,418 | $242,182 |
| Median Household Income | $43,643 | $76,510 | $78,145 |
| Price-to-Income Ratio | 6.7 | 3.2 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Jim Hogg County rose about 153.6%, while median household income rose about 31.4% 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 | Jim Hogg County | Texas Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 38.9% | 56.5% | 58.2% |
| Rental Rate | 24.3% | 33.8% | 31.3% |
| Vacancy Rate | 36.8% | 9.6% | 10.6% |
| Median Tenure (years) | 14.0 | 14.0 | 15.0 |
| Median Year Moved In | 2012 | 2012 | 2011 |
Jim Hogg County has a homeownership rate of 38.9%, lower than the Texas average of 56.5%. Its housing vacancy rate is 36.8%, compared with 9.6% in Texas.
Housing Stock
| Metric | Jim Hogg County | Texas Avg | US Average |
|---|---|---|---|
| Average Household Size | 3.88 people | 2.70 people | 2.54 people |
| Median Structure Built Year | 1978 | 1989 | 1978 |
| Median Number of Rooms | 4.9 | 5.4 | 5.5 |
The typical housing unit in Jim Hogg County was built around 1978. On average, 3.9 people live in a home with about 4.9 rooms, staying for about 14.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Jim Hogg County, Texas.
What is the median home price in Jim Hogg County, Texas?
The median home price in Jim Hogg County, Texas is $293,749, higher than the Texas average of $248,418.
What is the average home price in Jim Hogg 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 Jim Hogg County, Texas?
The median gross rent in Jim Hogg County, Texas is $820 per month, lower than the Texas average of $1,338.
What was the median gross rent in Jim Hogg County in 2020?
In 2020, the median gross rent in Jim Hogg County, Texas was $495 per month.
What is the price-to-rent ratio in Jim Hogg County, Texas?
The price-to-rent ratio in Jim Hogg County, Texas is about 29.8, meaning it would take roughly 29.8 years of rent payments at the median rent to equal the median home price. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Jim Hogg County.
Are home prices or rent rising faster in Jim Hogg County, Texas?
Both home prices and rent are rising in Jim Hogg County, up about 14.9% and 6.8% a year respectively. Home prices are changing faster.
What is the homeownership rate in Jim Hogg County, Texas?
38.9% of households in Jim Hogg County, Texas own their home, lower than the Texas average of 56.5%.
What is the vacancy rate in Jim Hogg County, Texas?
The housing vacancy rate in Jim Hogg County, Texas is 36.8%, higher than the Texas average of 9.6%.