McAllen, Texas Housing Market Prices
McAllen 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 5% below the Texas median$246,778
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Median rent 25% below the Texas median$1,054
Housing Market Overview
| Metric | McAllen | Texas Avg | US Average |
|---|---|---|---|
| Median Home Price | $246,778 | $258,873 | $248,835 |
| Price Trend (Annual %) | 7.4% | 9.2% | 7.5% |
| Median Gross Rent | $1,054 | $1,402 | $1,407 |
| Rent Trend (Annual %) | 4.5% | 5.6% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in McAllen is about 5% lower than in Texas. Rent is about 25% lower 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 McAllen, up about 7.4% and 4.5% a year respectively. Home prices are changing faster.
Median rent in McAllen rose about 45.3% between 2015 and 2024, from $725 to $1,054. Over the same span, rent in Texas rose about 59.1%.
Affordability
On average, housing unit costs 4.0 yearly household incomes in McAllen.
Buying the median-priced home in McAllen costs roughly 19.5 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 McAllen. The price-to-rent ratio in Texas is about 15.4.
| Metric | McAllen | Texas Avg | US Average |
|---|---|---|---|
| Median Home Price | $246,778 | $258,873 | $248,835 |
| Median Household Income | $61,369 | $78,939 | $80,455 |
| Price-to-Income Ratio | 4.0 | 3.3 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in McAllen rose about 64.8%, while median household income rose about 55.9% 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 | McAllen | Texas Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 51.8% | 56.7% | 58.5% |
| Rental Rate | 36.5% | 33.9% | 31.2% |
| Vacancy Rate | 11.8% | 9.4% | 10.2% |
| Median Tenure (years) | 13.0 | 14.0 | 15.0 |
| Median Year Moved In | 2013 | 2012 | 2011 |
McAllen has a homeownership rate of 51.8%, lower than the Texas average of 56.7%. Its housing vacancy rate is 11.8%, compared with 9.4% in Texas.
Housing Stock
| Metric | McAllen | Texas Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.94 people | 2.69 people | 2.53 people |
| Median Structure Built Year | 1994 | 1990 | 1978 |
| Median Number of Rooms | 5.0 | 5.4 | 5.5 |
The typical housing unit in McAllen was built around 1994. On average, 2.9 people live in a home with about 5.0 rooms, staying for about 13.0 years on average.
McAllen, TX Housing Compared With Nearby Cities
How McAllen, TX compares with the 2 cities closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| McAllen, TX | 146,716 | $246,778 #1/3 | $1,054 #1/3 | 58.7% #3/3 |
| Pharr, TX | 72,563 | $169,248 | $1,031 | 58.7% |
| Mission, TX | 82,130 | $173,638 | $925 | 73.1% |
Frequently Asked Questions
Common questions about the housing market in McAllen, Texas.
What is the median home price in McAllen, Texas?
The median home price in McAllen, Texas is $246,778, lower than the Texas average of $258,873.
What is the average home price in McAllen, Texas?
The typical home price in McAllen, Texas, reported as the median sale price, is $246,778. 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 McAllen, Texas?
The median gross rent in McAllen, Texas is $1,054 per month, lower than the Texas average of $1,402.
What was the median gross rent in McAllen in 2020?
In 2020, the median gross rent in McAllen, Texas was $834 per month.
What is the price-to-rent ratio in McAllen, Texas?
The price-to-rent ratio in McAllen, Texas is about 19.5, meaning it would take roughly 19.5 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 McAllen.
Are home prices or rent rising faster in McAllen, Texas?
Both home prices and rent are rising in McAllen, up about 7.4% and 4.5% a year respectively. Home prices are changing faster.
What is the homeownership rate in McAllen, Texas?
51.8% of households in McAllen, Texas own their home, lower than the Texas average of 56.7%.
What is the vacancy rate in McAllen, Texas?
The housing vacancy rate in McAllen, Texas is 11.8%, higher than the Texas average of 9.4%.
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