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 | Knox County | Texas Avg | US Average |
|---|---|---|---|
| Median Home Price | $77,856 | $248,418 | $242,182 |
| Price Trend (Annual %) | 47.0% | 9.9% | 8.2% |
| Median Gross Rent | $661 | $1,338 | $1,342 |
| Rent Trend (Annual %) | 8.2% | 5.7% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Knox County is about 69% lower than in Texas. Rent is about 51% 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 Knox County, up about 47.0% and 8.2% a year respectively. Home prices are changing faster.
Median rent in Knox County rose about 42.4% between 2015 and 2023, from $464 to $661. Over the same span, rent in Texas rose about 51.9%.
Affordability
On average, housing unit costs 1.4 yearly household incomes in Knox County.
Buying the median-priced home in Knox County costs roughly 9.8 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 Knox County. The price-to-rent ratio in Texas is about 15.5.
| Metric | Knox County | Texas Avg | US Average |
|---|---|---|---|
| Median Home Price | $77,856 | $248,418 | $242,182 |
| Median Household Income | $56,086 | $76,510 | $78,145 |
| Price-to-Income Ratio | 1.4 | 3.2 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Knox County rose about 226.5%, while median household income rose about 74.7% 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 | Knox County | Texas Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 54.4% | 56.5% | 58.2% |
| Rental Rate | 15.3% | 33.8% | 31.3% |
| Vacancy Rate | 30.3% | 9.6% | 10.6% |
| Median Tenure (years) | 16.0 | 14.0 | 15.0 |
| Median Year Moved In | 2010 | 2012 | 2011 |
Knox County has a homeownership rate of 54.4%, lower than the Texas average of 56.5%. Its housing vacancy rate is 30.3%, compared with 9.6% in Texas.
Housing Stock
| Metric | Knox County | Texas Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.55 people | 2.70 people | 2.54 people |
| Median Structure Built Year | 1968 | 1989 | 1978 |
| Median Number of Rooms | 5.8 | 5.4 | 5.5 |
The typical housing unit in Knox County was built around 1968. On average, 2.5 people live in a home with about 5.8 rooms, staying for about 16.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Knox County, Texas.
What is the median home price in Knox County, Texas?
The median home price in Knox County, Texas is $77,856, lower than the Texas average of $248,418.
What is the average home price in Knox 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 Knox County, Texas?
The median gross rent in Knox County, Texas is $661 per month, lower than the Texas average of $1,338.
What was the median gross rent in Knox County in 2020?
In 2020, the median gross rent in Knox County, Texas was $559 per month.
What is the price-to-rent ratio in Knox County, Texas?
The price-to-rent ratio in Knox County, Texas is about 9.8, meaning it would take roughly 9.8 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 Knox County.
Are home prices or rent rising faster in Knox County, Texas?
Both home prices and rent are rising in Knox County, up about 47.0% and 8.2% a year respectively. Home prices are changing faster.
What is the homeownership rate in Knox County, Texas?
54.4% of households in Knox County, Texas own their home, lower than the Texas average of 56.5%.
What is the vacancy rate in Knox County, Texas?
The housing vacancy rate in Knox County, Texas is 30.3%, higher than the Texas average of 9.6%.