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.
Housing Market Overview
| Metric | Parker | Texas Avg | US Average |
|---|---|---|---|
| Median Home Price | $544,587 | $248,418 | $242,182 |
| Price Trend (Annual %) | 7.7% | 9.9% | 8.2% |
| Median Gross Rent | $2,586 | $1,338 | $1,342 |
| Rent Trend (Annual %) | 5.3% | 5.7% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Parker is about 119% higher than in Texas. Rent is about 93% higher 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 Parker, up about 7.7% and 5.3% a year respectively. Home prices are changing faster.
Median rent in Parker rose about 55.6% between 2015 and 2023, from $1,663 to $2,586. Over the same span, rent in Texas rose about 51.9%.
Affordability
On average, housing unit costs 3.2 yearly household incomes in Parker.
Buying the median-priced home in Parker costs roughly 17.5 years of rent at the median monthly rate. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Parker. The price-to-rent ratio in Texas is about 15.5.
| Metric | Parker | Texas Avg | US Average |
|---|---|---|---|
| Median Home Price | $544,587 | $248,418 | $242,182 |
| Median Household Income | $170,315 | $76,510 | $78,145 |
| Price-to-Income Ratio | 3.2 | 3.2 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Parker rose about 62.1%, while median household income rose about 61.5% between 2009 and 2023 — keeping pace with each other.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Parker | Texas Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 88.9% | 56.5% | 58.2% |
| Rental Rate | 9.2% | 33.8% | 31.3% |
| Vacancy Rate | 1.9% | 9.6% | 10.6% |
| Median Tenure (years) | 14.0 | 14.0 | 15.0 |
| Median Year Moved In | 2012 | 2012 | 2011 |
Parker has a homeownership rate of 88.9%, higher than the Texas average of 56.5%. Its housing vacancy rate is 1.9%, compared with 9.6% in Texas.
Housing Stock
| Metric | Parker | Texas Avg | US Average |
|---|---|---|---|
| Average Household Size | 3.41 people | 2.70 people | 2.54 people |
| Median Structure Built Year | 2003 | 1989 | 1978 |
| Median Number of Rooms | 8.3 | 5.4 | 5.5 |
The typical housing unit in Parker was built around 2003. On average, 3.4 people live in a home with about 8.3 rooms, staying for about 14.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Parker, Texas.
What is the median home price in Parker, Texas?
The median home price in Parker, Texas is $544,587, higher than the Texas average of $248,418.
What is the average home price in Parker, 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 Parker, Texas?
The median gross rent in Parker, Texas is $2,586 per month, higher than the Texas average of $1,338.
What was the median gross rent in Parker in 2020?
In 2020, the median gross rent in Parker, Texas was $2,131 per month.
What is the price-to-rent ratio in Parker, Texas?
The price-to-rent ratio in Parker, Texas is about 17.5, meaning it would take roughly 17.5 years of rent payments at the median rent to equal the median home price. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Parker.
Are home prices or rent rising faster in Parker, Texas?
Both home prices and rent are rising in Parker, up about 7.7% and 5.3% a year respectively. Home prices are changing faster.
What is the homeownership rate in Parker, Texas?
88.9% of households in Parker, Texas own their home, higher than the Texas average of 56.5%.
What is the vacancy rate in Parker, Texas?
The housing vacancy rate in Parker, Texas is 1.9%, lower than the Texas average of 9.6%.