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 | Parker County | Texas Avg | US Average |
|---|---|---|---|
| Median Home Price | $264,610 | $248,418 | $242,182 |
| Price Trend (Annual %) | 10.0% | 9.9% | 8.2% |
| Median Gross Rent | $1,439 | $1,338 | $1,342 |
| Rent Trend (Annual %) | 7.0% | 5.7% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Parker County is about 7% higher than in Texas. Rent is about 8% 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 County, up about 10.0% and 7.0% a year respectively. Home prices are changing faster.
Median rent in Parker County rose about 60.1% between 2015 and 2023, from $899 to $1,439. Over the same span, rent in Texas rose about 51.9%.
Affordability
On average, housing unit costs 2.6 yearly household incomes in Parker County.
Buying the median-priced home in Parker County costs roughly 15.3 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 County. The price-to-rent ratio in Texas is about 15.5.
| Metric | Parker County | Texas Avg | US Average |
|---|---|---|---|
| Median Home Price | $264,610 | $248,418 | $242,182 |
| Median Household Income | $102,553 | $76,510 | $78,145 |
| Price-to-Income Ratio | 2.6 | 3.2 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Parker County rose about 28.9%, while median household income rose about 66.4% between 2009 and 2023 — 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 | Parker County | Texas Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 75.7% | 56.5% | 58.2% |
| Rental Rate | 16.5% | 33.8% | 31.3% |
| Vacancy Rate | 7.7% | 9.6% | 10.6% |
| Median Tenure (years) | 14.0 | 14.0 | 15.0 |
| Median Year Moved In | 2012 | 2012 | 2011 |
Parker County has a homeownership rate of 75.7%, higher than the Texas average of 56.5%. Its housing vacancy rate is 7.7%, compared with 9.6% in Texas.
Housing Stock
| Metric | Parker County | Texas Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.88 people | 2.70 people | 2.54 people |
| Median Structure Built Year | 1994 | 1989 | 1978 |
| Median Number of Rooms | 6.2 | 5.4 | 5.5 |
The typical housing unit in Parker County was built around 1994. On average, 2.9 people live in a home with about 6.2 rooms, staying for about 14.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Parker County, Texas.
What is the median home price in Parker County, Texas?
The median home price in Parker County, Texas is $264,610, higher than the Texas average of $248,418.
What is the average home price in Parker 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 Parker County, Texas?
The median gross rent in Parker County, Texas is $1,439 per month, higher than the Texas average of $1,338.
What was the median gross rent in Parker County in 2020?
In 2020, the median gross rent in Parker County, Texas was $1,049 per month.
What is the price-to-rent ratio in Parker County, Texas?
The price-to-rent ratio in Parker County, Texas is about 15.3, meaning it would take roughly 15.3 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 County.
Are home prices or rent rising faster in Parker County, Texas?
Both home prices and rent are rising in Parker County, up about 10.0% and 7.0% a year respectively. Home prices are changing faster.
What is the homeownership rate in Parker County, Texas?
75.7% of households in Parker County, Texas own their home, higher than the Texas average of 56.5%.
What is the vacancy rate in Parker County, Texas?
The housing vacancy rate in Parker County, Texas is 7.7%, lower than the Texas average of 9.6%.