Katy, Texas Housing Market Prices
Katy Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 50% above the Texas median$387,436
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Median rent 23% above the Texas median$1,727
Housing Market Overview
| Metric | Katy | Texas Avg | US Average |
|---|---|---|---|
| Median Home Price | $387,436 | $258,873 | $248,835 |
| Price Trend (Annual %) | 9.4% | 9.2% | 7.5% |
| Median Gross Rent | $1,727 | $1,402 | $1,407 |
| Rent Trend (Annual %) | 4.8% | 5.6% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Katy is about 50% higher than in Texas. Rent is about 23% higher than the Texas average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Katy, up about 9.4% and 4.8% a year respectively. Home prices are changing faster.
Median rent in Katy rose about 49.9% between 2015 and 2024, from $1,151 to $1,727. Over the same span, rent in Texas rose about 59.1%.
Affordability
On average, housing unit costs 3.2 yearly household incomes in Katy.
Buying the median-priced home in Katy costs roughly 18.7 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 Katy. The price-to-rent ratio in Texas is about 15.4.
| Metric | Katy | Texas Avg | US Average |
|---|---|---|---|
| Median Home Price | $387,436 | $258,873 | $248,835 |
| Median Household Income | $120,745 | $78,939 | $80,455 |
| Price-to-Income Ratio | 3.2 | 3.3 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Katy rose about 81.9%, while median household income rose about 52.6% between 2009 and 2025 — 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 | Katy | Texas Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 73.6% | 56.7% | 58.5% |
| Rental Rate | 21.5% | 33.9% | 31.2% |
| Vacancy Rate | 5.0% | 9.4% | 10.2% |
| Median Tenure (years) | 11.0 | 14.0 | 15.0 |
| Median Year Moved In | 2015 | 2012 | 2011 |
Katy has a homeownership rate of 73.6%, higher than the Texas average of 56.7%. Its housing vacancy rate is 5.0%, compared with 9.4% in Texas.
Housing Stock
| Metric | Katy | Texas Avg | US Average |
|---|---|---|---|
| Average Household Size | 3.14 people | 2.69 people | 2.53 people |
| Median Structure Built Year | 2000 | 1990 | 1978 |
| Median Number of Rooms | 6.8 | 5.4 | 5.5 |
The typical housing unit in Katy was built around 2000. On average, 3.1 people live in a home with about 6.8 rooms, staying for about 11.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Katy, Texas.
What is the median home price in Katy, Texas?
The median home price in Katy, Texas is $387,436, higher than the Texas average of $258,873.
What is the average home price in Katy, Texas?
The typical home price in Katy, Texas, reported as the median sale price, is $387,436. 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 Katy, Texas?
The median gross rent in Katy, Texas is $1,727 per month, higher than the Texas average of $1,402.
What was the median gross rent in Katy in 2020?
In 2020, the median gross rent in Katy, Texas was $1,237 per month.
What is the price-to-rent ratio in Katy, Texas?
The price-to-rent ratio in Katy, Texas is about 18.7, meaning it would take roughly 18.7 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 Katy.
Are home prices or rent rising faster in Katy, Texas?
Both home prices and rent are rising in Katy, up about 9.4% and 4.8% a year respectively. Home prices are changing faster.
What is the homeownership rate in Katy, Texas?
73.6% of households in Katy, Texas own their home, higher than the Texas average of 56.7%.
What is the vacancy rate in Katy, Texas?
The housing vacancy rate in Katy, Texas is 5.0%, lower than the Texas average of 9.4%.
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