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.
Housing Market Overview
| Metric | Keller | Texas Avg | US Average |
|---|---|---|---|
| Median Home Price | $613,683 | $248,418 | $242,182 |
| Price Trend (Annual %) | 23.0% | 9.9% | 8.2% |
| Median Gross Rent | $1,938 | $1,338 | $1,342 |
| Rent Trend (Annual %) | 7.3% | 5.7% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Keller is about 147% higher than in Texas. Rent is about 45% higher 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 Keller, up about 23.0% and 7.3% a year respectively. Home prices are changing faster.
Median rent in Keller rose about 71.8% between 2015 and 2023, from $1,128 to $1,938. Over the same span, rent in Texas rose about 51.9%.
Affordability
On average, housing unit costs 3.7 yearly household incomes in Keller.
Buying the median-priced home in Keller costs roughly 26.4 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 Keller. The price-to-rent ratio in Texas is about 15.5.
| Metric | Keller | Texas Avg | US Average |
|---|---|---|---|
| Median Home Price | $613,683 | $248,418 | $242,182 |
| Median Household Income | $164,834 | $76,510 | $78,145 |
| Price-to-Income Ratio | 3.7 | 3.2 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Keller rose about 53.2%, while median household income rose about 47.4% 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 | Keller | Texas Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 78.0% | 56.5% | 58.2% |
| Rental Rate | 19.8% | 33.8% | 31.3% |
| Vacancy Rate | 2.2% | 9.6% | 10.6% |
| Median Tenure (years) | 13.0 | 14.0 | 15.0 |
| Median Year Moved In | 2013 | 2012 | 2011 |
Keller has a homeownership rate of 78.0%, higher than the Texas average of 56.5%. Its housing vacancy rate is 2.2%, compared with 9.6% in Texas.
Housing Stock
| Metric | Keller | Texas Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.79 people | 2.70 people | 2.54 people |
| Median Structure Built Year | 1998 | 1989 | 1978 |
| Median Number of Rooms | 7.7 | 5.4 | 5.5 |
The typical housing unit in Keller was built around 1998. On average, 2.8 people live in a home with about 7.7 rooms, staying for about 13.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Keller, Texas.
What is the median home price in Keller, Texas?
The median home price in Keller, Texas is $613,683, higher than the Texas average of $248,418.
What is the average home price in Keller, 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 Keller, Texas?
The median gross rent in Keller, Texas is $1,938 per month, higher than the Texas average of $1,338.
What was the median gross rent in Keller in 2020?
In 2020, the median gross rent in Keller, Texas was $1,464 per month.
What is the price-to-rent ratio in Keller, Texas?
The price-to-rent ratio in Keller, Texas is about 26.4, meaning it would take roughly 26.4 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 Keller.
Are home prices or rent rising faster in Keller, Texas?
Both home prices and rent are rising in Keller, up about 23.0% and 7.3% a year respectively. Home prices are changing faster.
What is the homeownership rate in Keller, Texas?
78.0% of households in Keller, Texas own their home, higher than the Texas average of 56.5%.
What is the vacancy rate in Keller, Texas?
The housing vacancy rate in Keller, Texas is 2.2%, lower than the Texas average of 9.6%.