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 | Pecos County | Texas Avg | US Average |
|---|---|---|---|
| Median Home Price | $263,839 | $248,418 | $242,182 |
| Price Trend (Annual %) | -2.1% | 9.9% | 8.2% |
| Median Gross Rent | $972 | $1,338 | $1,342 |
| Rent Trend (Annual %) | 3.6% | 5.7% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Pecos County is about 6% higher than in Texas. Rent is about 27% lower than the Texas average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2023
Median Rent Prices, 2015-2023
Home prices and rent are moving in opposite directions in Pecos County: home prices fell about 2.1% a year while rent rose about 3.6% a year. That is an unusual pattern worth watching.
Median rent in Pecos County rose about 31.1% between 2015 and 2023, from $742 to $972. Over the same span, rent in Texas rose about 51.9%.
Affordability
On average, housing unit costs 3.9 yearly household incomes in Pecos County.
Buying the median-priced home in Pecos County costs roughly 22.6 years of rent at the median monthly rate. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Pecos County. The price-to-rent ratio in Texas is about 15.5.
| Metric | Pecos County | Texas Avg | US Average |
|---|---|---|---|
| Median Home Price | $263,839 | $248,418 | $242,182 |
| Median Household Income | $68,395 | $76,510 | $78,145 |
| Price-to-Income Ratio | 3.9 | 3.2 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Pecos County rose about 619.6%, while median household income rose about 100.1% 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 | Pecos County | Texas Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 63.4% | 56.5% | 58.2% |
| Rental Rate | 23.8% | 33.8% | 31.3% |
| Vacancy Rate | 12.7% | 9.6% | 10.6% |
| Median Tenure (years) | 17.0 | 14.0 | 15.0 |
| Median Year Moved In | 2009 | 2012 | 2011 |
Pecos County has a homeownership rate of 63.4%, higher than the Texas average of 56.5%. Its housing vacancy rate is 12.7%, compared with 9.6% in Texas.
Housing Stock
| Metric | Pecos County | Texas Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.49 people | 2.70 people | 2.54 people |
| Median Structure Built Year | 1976 | 1989 | 1978 |
| Median Number of Rooms | 6.0 | 5.4 | 5.5 |
The typical housing unit in Pecos County was built around 1976. On average, 2.5 people live in a home with about 6.0 rooms, staying for about 17.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Pecos County, Texas.
What is the median home price in Pecos County, Texas?
The median home price in Pecos County, Texas is $263,839, higher than the Texas average of $248,418.
What is the average home price in Pecos 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 Pecos County, Texas?
The median gross rent in Pecos County, Texas is $972 per month, lower than the Texas average of $1,338.
What was the median gross rent in Pecos County in 2020?
In 2020, the median gross rent in Pecos County, Texas was $806 per month.
What is the price-to-rent ratio in Pecos County, Texas?
The price-to-rent ratio in Pecos County, Texas is about 22.6, meaning it would take roughly 22.6 years of rent payments at the median rent to equal the median home price. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Pecos County.
Are home prices or rent rising faster in Pecos County, Texas?
Home prices and rent are moving in opposite directions in Pecos County: home prices fell about 2.1% a year while rent rose about 3.6% a year. That is an unusual pattern worth watching.
What is the homeownership rate in Pecos County, Texas?
63.4% of households in Pecos County, Texas own their home, higher than the Texas average of 56.5%.
What is the vacancy rate in Pecos County, Texas?
The housing vacancy rate in Pecos County, Texas is 12.7%, higher than the Texas average of 9.6%.