Midland, Texas Housing Market Prices
Midland 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 24% below the Texas median$197,534
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Median rent 1% below the Texas median$1,388
Housing Market Overview
| Metric | Midland | Texas Avg | US Average |
|---|---|---|---|
| Median Home Price | $197,534 | $258,873 | $248,835 |
| Price Trend (Annual %) | 15.1% | 9.2% | 7.5% |
| Median Gross Rent | $1,388 | $1,402 | $1,407 |
| Rent Trend (Annual %) | 2.6% | 5.6% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Midland is about 24% lower than in Texas. Rent is about 1% 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 Midland, up about 15.1% and 2.6% a year respectively. Home prices are changing faster.
Median rent in Midland rose about 27.0% between 2015 and 2024, from $1,093 to $1,388. Over the same span, rent in Texas rose about 59.1%.
Affordability
On average, housing unit costs 2.4 yearly household incomes in Midland.
Buying the median-priced home in Midland costs roughly 11.9 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 Midland. The price-to-rent ratio in Texas is about 15.4.
| Metric | Midland | Texas Avg | US Average |
|---|---|---|---|
| Median Home Price | $197,534 | $258,873 | $248,835 |
| Median Household Income | $83,839 | $78,939 | $80,455 |
| Price-to-Income Ratio | 2.4 | 3.3 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Midland rose about 18.8%, while median household income rose about 59.1% between 2009 and 2025 — 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 | Midland | Texas Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 59.2% | 56.7% | 58.5% |
| Rental Rate | 34.0% | 33.9% | 31.2% |
| Vacancy Rate | 6.8% | 9.4% | 10.2% |
| Median Tenure (years) | 11.0 | 14.0 | 15.0 |
| Median Year Moved In | 2015 | 2012 | 2011 |
Midland has a homeownership rate of 59.2%, higher than the Texas average of 56.7%. Its housing vacancy rate is 6.8%, compared with 9.4% in Texas.
Housing Stock
| Metric | Midland | Texas Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.48 people | 2.69 people | 2.53 people |
| Median Structure Built Year | 1987 | 1990 | 1978 |
| Median Number of Rooms | 5.3 | 5.4 | 5.5 |
The typical housing unit in Midland was built around 1987. On average, 2.5 people live in a home with about 5.3 rooms, staying for about 11.0 years on average.
Midland, TX Housing Compared With Nearby Cities
How Midland, TX compares with the 1 cities closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Midland, TX | 117,504 | $197,534 #2/2 | $1,388 #1/2 | 63.5% #1/2 |
| Odessa, TX | 101,110 | $215,981 | $1,282 | 60.8% |
Frequently Asked Questions
Common questions about the housing market in Midland, Texas.
What is the median home price in Midland, Texas?
The median home price in Midland, Texas is $197,534, lower than the Texas average of $258,873.
What is the average home price in Midland, Texas?
The typical home price in Midland, Texas, reported as the median sale price, is $197,534. 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 Midland, Texas?
The median gross rent in Midland, Texas is $1,388 per month, lower than the Texas average of $1,402.
What was the median gross rent in Midland in 2020?
In 2020, the median gross rent in Midland, Texas was $1,230 per month.
What is the price-to-rent ratio in Midland, Texas?
The price-to-rent ratio in Midland, Texas is about 11.9, meaning it would take roughly 11.9 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 Midland.
Are home prices or rent rising faster in Midland, Texas?
Both home prices and rent are rising in Midland, up about 15.1% and 2.6% a year respectively. Home prices are changing faster.
What is the homeownership rate in Midland, Texas?
59.2% of households in Midland, Texas own their home, higher than the Texas average of 56.7%.
What is the vacancy rate in Midland, Texas?
The housing vacancy rate in Midland, Texas is 6.8%, lower than the Texas average of 9.4%.
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