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 | Moore County | Texas Avg | US Average |
|---|---|---|---|
| Median Home Price | $221,000 | $248,418 | $242,182 |
| Price Trend (Annual %) | 33.2% | 9.9% | 8.2% |
| Median Gross Rent | $893 | $1,338 | $1,342 |
| Rent Trend (Annual %) | 3.4% | 5.7% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Moore County is about 11% lower than in Texas. Rent is about 33% 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 Moore County, up about 33.2% and 3.4% a year respectively. Home prices are changing faster.
Median rent in Moore County rose about 32.3% between 2015 and 2023, from $674 to $893. Over the same span, rent in Texas rose about 51.9%.
Affordability
On average, housing unit costs 3.6 yearly household incomes in Moore County.
Buying the median-priced home in Moore County costs roughly 20.6 years of rent at the median monthly rate. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Moore County. The price-to-rent ratio in Texas is about 15.5.
| Metric | Moore County | Texas Avg | US Average |
|---|---|---|---|
| Median Home Price | $221,000 | $248,418 | $242,182 |
| Median Household Income | $62,079 | $76,510 | $78,145 |
| Price-to-Income Ratio | 3.6 | 3.2 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Moore County rose about 201.1%, while median household income rose about 49.0% between 2009 and 2023 — 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 | Moore County | Texas Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 54.8% | 56.5% | 58.2% |
| Rental Rate | 33.7% | 33.8% | 31.3% |
| Vacancy Rate | 11.5% | 9.6% | 10.6% |
| Median Tenure (years) | 14.0 | 14.0 | 15.0 |
| Median Year Moved In | 2012 | 2012 | 2011 |
Moore County has a homeownership rate of 54.8%, lower than the Texas average of 56.5%. Its housing vacancy rate is 11.5%, compared with 9.6% in Texas.
Housing Stock
| Metric | Moore County | Texas Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.90 people | 2.70 people | 2.54 people |
| Median Structure Built Year | 1972 | 1989 | 1978 |
| Median Number of Rooms | 5.2 | 5.4 | 5.5 |
The typical housing unit in Moore County was built around 1972. On average, 2.9 people live in a home with about 5.2 rooms, staying for about 14.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Moore County, Texas.
What is the median home price in Moore County, Texas?
The median home price in Moore County, Texas is $221,000, lower than the Texas average of $248,418.
What is the average home price in Moore 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 Moore County, Texas?
The median gross rent in Moore County, Texas is $893 per month, lower than the Texas average of $1,338.
What was the median gross rent in Moore County in 2020?
In 2020, the median gross rent in Moore County, Texas was $818 per month.
What is the price-to-rent ratio in Moore County, Texas?
The price-to-rent ratio in Moore County, Texas is about 20.6, meaning it would take roughly 20.6 years of rent payments at the median rent to equal the median home price. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Moore County.
Are home prices or rent rising faster in Moore County, Texas?
Both home prices and rent are rising in Moore County, up about 33.2% and 3.4% a year respectively. Home prices are changing faster.
What is the homeownership rate in Moore County, Texas?
54.8% of households in Moore County, Texas own their home, lower than the Texas average of 56.5%.
What is the vacancy rate in Moore County, Texas?
The housing vacancy rate in Moore County, Texas is 11.5%, higher than the Texas average of 9.6%.