McKinney, Texas Housing Market Prices
McKinney 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 60% above the Texas median$414,297
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Median rent 35% above the Texas median$1,888
Housing Market Overview
| Metric | McKinney | Texas Avg | US Average |
|---|---|---|---|
| Median Home Price | $414,297 | $258,873 | $248,835 |
| Price Trend (Annual %) | 8.3% | 9.2% | 7.5% |
| Median Gross Rent | $1,888 | $1,402 | $1,407 |
| Rent Trend (Annual %) | 6.2% | 5.6% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in McKinney is about 60% higher than in Texas. Rent is about 35% higher 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 McKinney, up about 8.3% and 6.2% a year respectively. Home prices are changing faster.
Median rent in McKinney rose about 67.8% between 2015 and 2024, from $1,125 to $1,888. Over the same span, rent in Texas rose about 59.1%.
Affordability
On average, housing unit costs 3.3 yearly household incomes in McKinney.
Buying the median-priced home in McKinney costs roughly 18.3 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 McKinney. The price-to-rent ratio in Texas is about 15.4.
| Metric | McKinney | Texas Avg | US Average |
|---|---|---|---|
| Median Home Price | $414,297 | $258,873 | $248,835 |
| Median Household Income | $124,745 | $78,939 | $80,455 |
| Price-to-Income Ratio | 3.3 | 3.3 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in McKinney rose about 71.6%, while median household income rose about 51.3% 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 | McKinney | Texas Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 60.7% | 56.7% | 58.5% |
| Rental Rate | 34.6% | 33.9% | 31.2% |
| Vacancy Rate | 4.7% | 9.4% | 10.2% |
| Median Tenure (years) | 10.0 | 14.0 | 15.0 |
| Median Year Moved In | 2016 | 2012 | 2011 |
McKinney has a homeownership rate of 60.7%, higher than the Texas average of 56.7%. Its housing vacancy rate is 4.7%, compared with 9.4% in Texas.
Housing Stock
| Metric | McKinney | Texas Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.81 people | 2.69 people | 2.53 people |
| Median Structure Built Year | 2004 | 1990 | 1978 |
| Median Number of Rooms | 6.4 | 5.4 | 5.5 |
The typical housing unit in McKinney was built around 2004. On average, 2.8 people live in a home with about 6.4 rooms, staying for about 10.0 years on average.
McKinney, TX Housing Compared With Nearby Cities
How McKinney, TX compares with the 1 cities closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| McKinney, TX | 200,953 | $414,297 #2/2 | $1,888 #2/2 | 63.7% #2/2 |
| Allen, TX | 102,687 | $452,628 | $1,917 | 68.3% |
Frequently Asked Questions
Common questions about the housing market in McKinney, Texas.
What is the median home price in McKinney, Texas?
The median home price in McKinney, Texas is $414,297, higher than the Texas average of $258,873.
What is the average home price in McKinney, Texas?
The typical home price in McKinney, Texas, reported as the median sale price, is $414,297. 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 McKinney, Texas?
The median gross rent in McKinney, Texas is $1,888 per month, higher than the Texas average of $1,402.
What was the median gross rent in McKinney in 2020?
In 2020, the median gross rent in McKinney, Texas was $1,438 per month.
What is the price-to-rent ratio in McKinney, Texas?
The price-to-rent ratio in McKinney, Texas is about 18.3, meaning it would take roughly 18.3 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 McKinney.
Are home prices or rent rising faster in McKinney, Texas?
Both home prices and rent are rising in McKinney, up about 8.3% and 6.2% a year respectively. Home prices are changing faster.
What is the homeownership rate in McKinney, Texas?
60.7% of households in McKinney, Texas own their home, higher than the Texas average of 56.7%.
What is the vacancy rate in McKinney, Texas?
The housing vacancy rate in McKinney, Texas is 4.7%, lower than the Texas average of 9.4%.
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