Panola County, Texas Housing Market Prices
Panola County 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 87% below the Texas median Cheaper than 94% of counties in Texas$34,582
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Median rent 41% below the Texas median Cheaper than 74% of counties in Texas$834
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Panola County | Texas Avg | US Average |
|---|---|---|---|
| Median Home Price | $34,582 | $258,873 | $248,835 |
| Price Trend (Annual %) | 1.9% | 9.2% | 7.5% |
| Median Gross Rent | $834 | $1,402 | $1,407 |
| Rent Trend (Annual %) | 2.2% | 5.6% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Panola County is about 87% lower than in Texas. Rent is about 41% 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 Panola County, up about 1.9% and 2.2% a year respectively. Rent is changing faster.
Median rent in Panola County rose about 23.1% between 2015 and 2024, from $678 to $834. Over the same span, rent in Texas rose about 59.1%.
Affordability
On average, housing unit costs 0.5 yearly household incomes in Panola County.
Buying the median-priced home in Panola County costs roughly 3.5 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 Panola County. The price-to-rent ratio in Texas is about 15.4.
| Metric | Panola County | Texas Avg | US Average |
|---|---|---|---|
| Median Home Price | $34,582 | $258,873 | $248,835 |
| Median Household Income | $63,075 | $78,939 | $80,455 |
| Price-to-Income Ratio | 0.5 | 3.3 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Panola County rose about 2.7%, while median household income rose about 39.5% 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 | Panola County | Texas Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 65.5% | 56.7% | 58.5% |
| Rental Rate | 16.5% | 33.9% | 31.2% |
| Vacancy Rate | 18.0% | 9.4% | 10.2% |
| Median Tenure (years) | 17.0 | 14.0 | 15.0 |
| Median Year Moved In | 2009 | 2012 | 2011 |
Panola County has a homeownership rate of 65.5%, higher than the Texas average of 56.7%. Its housing vacancy rate is 18.0%, compared with 9.4% in Texas.
Housing Stock
| Metric | Panola County | Texas Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.50 people | 2.69 people | 2.53 people |
| Median Structure Built Year | 1987 | 1990 | 1978 |
| Median Number of Rooms | 5.7 | 5.4 | 5.5 |
The typical housing unit in Panola County was built around 1987. On average, 2.5 people live in a home with about 5.7 rooms, staying for about 17.0 years on average.
Panola County, TX Housing Compared With Nearby Counties
Panola County, TX is the smallest of the 5 counties compared here, 22,726 residents against a local median of 61,498. Panola County, TX's median home price, at $34,582, runs 78% below the $154,305 typical of the counties around it.
The counties themselves spread $204,483 on median home price, so Panola County, TX sits at one end of an already wide local range rather than apart from it. Panola County, TX has the 5th highest median home price of the 5 areas compared here.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Panola County, TX | 22,726 | $34,582 #5/5 | $834 #4/5 | 79.9% #1/5 |
| Harrison County, TX | 70,155 | $248,957 | $973 | 76.9% |
| Rusk County, TX | 52,842 | $59,204 | $1,015 | 78.8% |
| De Soto Parish, LA | 27,025 | $263,686 | $686 | 77.2% |
| Caddo Parish, LA | 229,305 | $59,652 | $973 | 60.3% |
Frequently Asked Questions
Common questions about the housing market in Panola County, Texas.
What is the median home price in Panola County, Texas?
The median home price in Panola County, Texas is $34,582, lower than the Texas average of $258,873.
What is the average home price in Panola County, Texas?
The typical home price in Panola County, Texas, reported as the median sale price, is $34,582. 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 Panola County, Texas?
The median gross rent in Panola County, Texas is $834 per month, lower than the Texas average of $1,402.
What was the median gross rent in Panola County in 2020?
In 2020, the median gross rent in Panola County, Texas was $728 per month.
What is the price-to-rent ratio in Panola County, Texas?
The price-to-rent ratio in Panola County, Texas is about 3.5, meaning it would take roughly 3.5 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 Panola County.
Are home prices or rent rising faster in Panola County, Texas?
Both home prices and rent are rising in Panola County, up about 1.9% and 2.2% a year respectively. Rent is changing faster.
What is the homeownership rate in Panola County, Texas?
65.5% of households in Panola County, Texas own their home, higher than the Texas average of 56.7%.
What is the vacancy rate in Panola County, Texas?
The housing vacancy rate in Panola County, Texas is 18.0%, higher than the Texas average of 9.4%.
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