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 Wells County | Texas Avg | US Average |
|---|---|---|---|
| Median Home Price | $125,000 | $248,418 | $242,182 |
| Price Trend (Annual %) | 33.4% | 9.9% | 8.2% |
| Median Gross Rent | $884 | $1,338 | $1,342 |
| Rent Trend (Annual %) | 3.0% | 5.7% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Jim Wells County is about 50% lower than in Texas. Rent is about 34% 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 Wells County, up about 33.4% and 3.0% a year respectively. Home prices are changing faster.
Median rent in Jim Wells County rose about 24.4% between 2015 and 2023, from $711 to $884. Over the same span, rent in Texas rose about 51.9%.
Affordability
On average, housing unit costs 2.5 yearly household incomes in Jim Wells County.
Buying the median-priced home in Jim Wells County costs roughly 11.8 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 Jim Wells County. The price-to-rent ratio in Texas is about 15.5.
| Metric | Jim Wells County | Texas Avg | US Average |
|---|---|---|---|
| Median Home Price | $125,000 | $248,418 | $242,182 |
| Median Household Income | $49,164 | $76,510 | $78,145 |
| Price-to-Income Ratio | 2.5 | 3.2 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Jim Wells County rose about 11.3%, while median household income rose about 47.4% 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 | Jim Wells County | Texas Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 55.4% | 56.5% | 58.2% |
| Rental Rate | 26.7% | 33.8% | 31.3% |
| Vacancy Rate | 17.9% | 9.6% | 10.6% |
| Median Tenure (years) | 18.0 | 14.0 | 15.0 |
| Median Year Moved In | 2008 | 2012 | 2011 |
Jim Wells County has a homeownership rate of 55.4%, lower than the Texas average of 56.5%. Its housing vacancy rate is 17.9%, compared with 9.6% in Texas.
Housing Stock
| Metric | Jim Wells County | Texas Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.89 people | 2.70 people | 2.54 people |
| Median Structure Built Year | 1980 | 1989 | 1978 |
| Median Number of Rooms | 5.3 | 5.4 | 5.5 |
The typical housing unit in Jim Wells County was built around 1980. On average, 2.9 people live in a home with about 5.3 rooms, staying for about 18.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Jim Wells County, Texas.
What is the median home price in Jim Wells County, Texas?
The median home price in Jim Wells County, Texas is $125,000, lower than the Texas average of $248,418.
What is the average home price in Jim Wells 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 Wells County, Texas?
The median gross rent in Jim Wells County, Texas is $884 per month, lower than the Texas average of $1,338.
What was the median gross rent in Jim Wells County in 2020?
In 2020, the median gross rent in Jim Wells County, Texas was $779 per month.
What is the price-to-rent ratio in Jim Wells County, Texas?
The price-to-rent ratio in Jim Wells County, Texas is about 11.8, meaning it would take roughly 11.8 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 Jim Wells County.
Are home prices or rent rising faster in Jim Wells County, Texas?
Both home prices and rent are rising in Jim Wells County, up about 33.4% and 3.0% a year respectively. Home prices are changing faster.
What is the homeownership rate in Jim Wells County, Texas?
55.4% of households in Jim Wells County, Texas own their home, lower than the Texas average of 56.5%.
What is the vacancy rate in Jim Wells County, Texas?
The housing vacancy rate in Jim Wells County, Texas is 17.9%, higher than the Texas average of 9.6%.