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 | Orange County | Texas Avg | US Average |
|---|---|---|---|
| Median Home Price | $127,466 | $248,418 | $242,182 |
| Price Trend (Annual %) | 14.7% | 9.9% | 8.2% |
| Median Gross Rent | $1,018 | $1,338 | $1,342 |
| Rent Trend (Annual %) | 4.1% | 5.7% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Orange County is about 49% lower than in Texas. Rent is about 24% 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 Orange County, up about 14.7% and 4.1% a year respectively. Home prices are changing faster.
Median rent in Orange County rose about 36.3% between 2015 and 2023, from $747 to $1,018. Over the same span, rent in Texas rose about 51.9%.
Affordability
On average, housing unit costs 1.7 yearly household incomes in Orange County.
Buying the median-priced home in Orange County costs roughly 10.4 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 Orange County. The price-to-rent ratio in Texas is about 15.5.
| Metric | Orange County | Texas Avg | US Average |
|---|---|---|---|
| Median Home Price | $127,466 | $248,418 | $242,182 |
| Median Household Income | $73,721 | $76,510 | $78,145 |
| Price-to-Income Ratio | 1.7 | 3.2 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Orange County rose about 106.7%, while median household income rose about 62.0% 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 | Orange County | Texas Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 63.4% | 56.5% | 58.2% |
| Rental Rate | 21.1% | 33.8% | 31.3% |
| Vacancy Rate | 15.5% | 9.6% | 10.6% |
| Median Tenure (years) | 15.0 | 14.0 | 15.0 |
| Median Year Moved In | 2011 | 2012 | 2011 |
Orange County has a homeownership rate of 63.4%, higher than the Texas average of 56.5%. Its housing vacancy rate is 15.5%, compared with 9.6% in Texas.
Housing Stock
| Metric | Orange County | Texas Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.65 people | 2.70 people | 2.54 people |
| Median Structure Built Year | 1984 | 1989 | 1978 |
| Median Number of Rooms | 5.6 | 5.4 | 5.5 |
The typical housing unit in Orange County was built around 1984. On average, 2.6 people live in a home with about 5.6 rooms, staying for about 15.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Orange County, Texas.
What is the median home price in Orange County, Texas?
The median home price in Orange County, Texas is $127,466, lower than the Texas average of $248,418.
What is the average home price in Orange 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 Orange County, Texas?
The median gross rent in Orange County, Texas is $1,018 per month, lower than the Texas average of $1,338.
What was the median gross rent in Orange County in 2020?
In 2020, the median gross rent in Orange County, Texas was $826 per month.
What is the price-to-rent ratio in Orange County, Texas?
The price-to-rent ratio in Orange County, Texas is about 10.4, meaning it would take roughly 10.4 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 Orange County.
Are home prices or rent rising faster in Orange County, Texas?
Both home prices and rent are rising in Orange County, up about 14.7% and 4.1% a year respectively. Home prices are changing faster.
What is the homeownership rate in Orange County, Texas?
63.4% of households in Orange County, Texas own their home, higher than the Texas average of 56.5%.
What is the vacancy rate in Orange County, Texas?
The housing vacancy rate in Orange County, Texas is 15.5%, higher than the Texas average of 9.6%.