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.

Not Available
$2,574

Housing Market Overview

Metric Paloma Creek Texas Avg US Average
Median Home Price — $248,418 $242,182
Price Trend (Annual %) — 9.9% 8.2%
Median Gross Rent $2,574 $1,338 $1,342
Rent Trend (Annual %) 6.4% 5.7% 5.1%
Household Income Trend (Annual %) — — —

Rent is about 92% higher than the Texas average.

Affordability

Metric Paloma Creek Texas Avg US Average
Median Home Price — $248,418 $242,182
Median Household Income $107,323 $76,510 $78,145
Price-to-Income Ratio — 3.2 3.1

Occupancy & Tenure

Metric Paloma Creek Texas Avg US Average
Homeownership Rate 85.2% 56.5% 58.2%
Rental Rate 12.8% 33.8% 31.3%
Vacancy Rate 2.0% 9.6% 10.6%
Median Tenure (years) 10.0 14.0 15.0
Median Year Moved In 2016 2012 2011

Paloma Creek has a homeownership rate of 85.2%, higher than the Texas average of 56.5%. Its housing vacancy rate is 2.0%, compared with 9.6% in Texas.

Housing Stock

Metric Paloma Creek Texas Avg US Average
Average Household Size 2.89 people 2.70 people 2.54 people
Median Structure Built Year 2008 1989 1978
Median Number of Rooms 6.4 5.4 5.5

The typical housing unit in Paloma Creek was built around 2008. On average, 2.9 people live in a home with about 6.4 rooms, staying for about 10.0 years on average.

Frequently Asked Questions

Common questions about the housing market in Paloma Creek, Texas.

What is the median rent in Paloma Creek, Texas?

The median gross rent in Paloma Creek, Texas is $2,574 per month, higher than the Texas average of $1,338.

What is the homeownership rate in Paloma Creek, Texas?

85.2% of households in Paloma Creek, Texas own their home, higher than the Texas average of 56.5%.

What is the vacancy rate in Paloma Creek, Texas?

The housing vacancy rate in Paloma Creek, Texas is 2.0%, lower than the Texas average of 9.6%.