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 | Navarro County | Texas Avg | US Average |
|---|---|---|---|
| Median Home Price | $299,999 | $248,418 | $242,182 |
| Price Trend (Annual %) | 20.6% | 9.9% | 8.2% |
| Median Gross Rent | $1,039 | $1,338 | $1,342 |
| Rent Trend (Annual %) | 5.1% | 5.7% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Navarro County is about 21% higher 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 Navarro County, up about 20.6% and 5.1% a year respectively. Home prices are changing faster.
Median rent in Navarro County rose about 47.5% between 2015 and 2023, from $704 to $1,039. Over the same span, rent in Texas rose about 51.9%.
Affordability
On average, housing unit costs 5.1 yearly household incomes in Navarro County.
Buying the median-priced home in Navarro County costs roughly 24.1 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 Navarro County. The price-to-rent ratio in Texas is about 15.5.
| Metric | Navarro County | Texas Avg | US Average |
|---|---|---|---|
| Median Home Price | $299,999 | $248,418 | $242,182 |
| Median Household Income | $59,282 | $76,510 | $78,145 |
| Price-to-Income Ratio | 5.1 | 3.2 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Navarro County rose about 200.5%, while median household income rose about 49.8% 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 | Navarro County | Texas Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 57.7% | 56.5% | 58.2% |
| Rental Rate | 27.1% | 33.8% | 31.3% |
| Vacancy Rate | 15.2% | 9.6% | 10.6% |
| Median Tenure (years) | 15.0 | 14.0 | 15.0 |
| Median Year Moved In | 2011 | 2012 | 2011 |
Navarro County has a homeownership rate of 57.7%, higher than the Texas average of 56.5%. Its housing vacancy rate is 15.2%, compared with 9.6% in Texas.
Housing Stock
| Metric | Navarro County | Texas Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.84 people | 2.70 people | 2.54 people |
| Median Structure Built Year | 1984 | 1989 | 1978 |
| Median Number of Rooms | 5.4 | 5.4 | 5.5 |
The typical housing unit in Navarro County was built around 1984. On average, 2.8 people live in a home with about 5.4 rooms, staying for about 15.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Navarro County, Texas.
What is the median home price in Navarro County, Texas?
The median home price in Navarro County, Texas is $299,999, higher than the Texas average of $248,418.
What is the average home price in Navarro 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 Navarro County, Texas?
The median gross rent in Navarro County, Texas is $1,039 per month, lower than the Texas average of $1,338.
What was the median gross rent in Navarro County in 2020?
In 2020, the median gross rent in Navarro County, Texas was $806 per month.
What is the price-to-rent ratio in Navarro County, Texas?
The price-to-rent ratio in Navarro County, Texas is about 24.1, meaning it would take roughly 24.1 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 Navarro County.
Are home prices or rent rising faster in Navarro County, Texas?
Both home prices and rent are rising in Navarro County, up about 20.6% and 5.1% a year respectively. Home prices are changing faster.
What is the homeownership rate in Navarro County, Texas?
57.7% of households in Navarro County, Texas own their home, higher than the Texas average of 56.5%.
What is the vacancy rate in Navarro County, Texas?
The housing vacancy rate in Navarro County, Texas is 15.2%, higher than the Texas average of 9.6%.