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 | Lee County | Texas Avg | US Average |
|---|---|---|---|
| Median Home Price | $96,071 | $248,418 | $242,182 |
| Price Trend (Annual %) | 5.8% | 9.9% | 8.2% |
| Median Gross Rent | $1,050 | $1,338 | $1,342 |
| Rent Trend (Annual %) | 4.4% | 5.7% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Lee County is about 61% lower than in Texas. Rent is about 22% 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 Lee County, up about 5.8% and 4.4% a year respectively. Home prices are changing faster.
Median rent in Lee County rose about 38.3% between 2015 and 2023, from $759 to $1,050. Over the same span, rent in Texas rose about 51.9%.
Affordability
On average, housing unit costs 1.4 yearly household incomes in Lee County.
Buying the median-priced home in Lee County costs roughly 7.6 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 Lee County. The price-to-rent ratio in Texas is about 15.5.
| Metric | Lee County | Texas Avg | US Average |
|---|---|---|---|
| Median Home Price | $96,071 | $248,418 | $242,182 |
| Median Household Income | $66,919 | $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 Lee County rose about 27.5%, while median household income rose about 48.3% 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 | Lee County | Texas Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 66.2% | 56.5% | 58.2% |
| Rental Rate | 18.6% | 33.8% | 31.3% |
| Vacancy Rate | 15.2% | 9.6% | 10.6% |
| Median Tenure (years) | 16.0 | 14.0 | 15.0 |
| Median Year Moved In | 2010 | 2012 | 2011 |
Lee County has a homeownership rate of 66.2%, higher than the Texas average of 56.5%. Its housing vacancy rate is 15.2%, compared with 9.6% in Texas.
Housing Stock
| Metric | Lee County | Texas Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.58 people | 2.70 people | 2.54 people |
| Median Structure Built Year | 1990 | 1989 | 1978 |
| Median Number of Rooms | 5.7 | 5.4 | 5.5 |
The typical housing unit in Lee County was built around 1990. On average, 2.6 people live in a home with about 5.7 rooms, staying for about 16.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Lee County, Texas.
What is the median home price in Lee County, Texas?
The median home price in Lee County, Texas is $96,071, lower than the Texas average of $248,418.
What is the average home price in Lee 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 Lee County, Texas?
The median gross rent in Lee County, Texas is $1,050 per month, lower than the Texas average of $1,338.
What was the median gross rent in Lee County in 2020?
In 2020, the median gross rent in Lee County, Texas was $896 per month.
What is the price-to-rent ratio in Lee County, Texas?
The price-to-rent ratio in Lee County, Texas is about 7.6, meaning it would take roughly 7.6 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 Lee County.
Are home prices or rent rising faster in Lee County, Texas?
Both home prices and rent are rising in Lee County, up about 5.8% and 4.4% a year respectively. Home prices are changing faster.
What is the homeownership rate in Lee County, Texas?
66.2% of households in Lee County, Texas own their home, higher than the Texas average of 56.5%.
What is the vacancy rate in Lee County, Texas?
The housing vacancy rate in Lee County, Texas is 15.2%, higher than the Texas average of 9.6%.