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 | Lampasas County | Texas Avg | US Average |
|---|---|---|---|
| Median Home Price | $201,218 | $248,418 | $242,182 |
| Price Trend (Annual %) | 15.8% | 9.9% | 8.2% |
| Median Gross Rent | $960 | $1,338 | $1,342 |
| Rent Trend (Annual %) | 3.0% | 5.7% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Lampasas County is about 19% lower than in Texas. Rent is about 28% 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 Lampasas County, up about 15.8% and 3.0% a year respectively. Home prices are changing faster.
Median rent in Lampasas County rose about 24.5% between 2015 and 2023, from $771 to $960. Over the same span, rent in Texas rose about 51.9%.
Affordability
On average, housing unit costs 2.6 yearly household incomes in Lampasas County.
Buying the median-priced home in Lampasas County costs roughly 17.5 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 Lampasas County. The price-to-rent ratio in Texas is about 15.5.
| Metric | Lampasas County | Texas Avg | US Average |
|---|---|---|---|
| Median Home Price | $201,218 | $248,418 | $242,182 |
| Median Household Income | $77,412 | $76,510 | $78,145 |
| Price-to-Income Ratio | 2.6 | 3.2 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Lampasas County rose about 61.0%, while median household income rose about 74.1% 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 | Lampasas County | Texas Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 66.8% | 56.5% | 58.2% |
| Rental Rate | 16.4% | 33.8% | 31.3% |
| Vacancy Rate | 16.9% | 9.6% | 10.6% |
| Median Tenure (years) | 13.0 | 14.0 | 15.0 |
| Median Year Moved In | 2013 | 2012 | 2011 |
Lampasas County has a homeownership rate of 66.8%, higher than the Texas average of 56.5%. Its housing vacancy rate is 16.9%, compared with 9.6% in Texas.
Housing Stock
| Metric | Lampasas County | Texas Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.70 people | 2.70 people | 2.54 people |
| Median Structure Built Year | 1987 | 1989 | 1978 |
| Median Number of Rooms | 5.9 | 5.4 | 5.5 |
The typical housing unit in Lampasas County was built around 1987. On average, 2.7 people live in a home with about 5.9 rooms, staying for about 13.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Lampasas County, Texas.
What is the median home price in Lampasas County, Texas?
The median home price in Lampasas County, Texas is $201,218, lower than the Texas average of $248,418.
What is the average home price in Lampasas 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 Lampasas County, Texas?
The median gross rent in Lampasas County, Texas is $960 per month, lower than the Texas average of $1,338.
What was the median gross rent in Lampasas County in 2020?
In 2020, the median gross rent in Lampasas County, Texas was $781 per month.
What is the price-to-rent ratio in Lampasas County, Texas?
The price-to-rent ratio in Lampasas County, Texas is about 17.5, meaning it would take roughly 17.5 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 Lampasas County.
Are home prices or rent rising faster in Lampasas County, Texas?
Both home prices and rent are rising in Lampasas County, up about 15.8% and 3.0% a year respectively. Home prices are changing faster.
What is the homeownership rate in Lampasas County, Texas?
66.8% of households in Lampasas County, Texas own their home, higher than the Texas average of 56.5%.
What is the vacancy rate in Lampasas County, Texas?
The housing vacancy rate in Lampasas County, Texas is 16.9%, higher than the Texas average of 9.6%.