Pharr, Texas Housing Market Prices
Pharr 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 35% below the Texas median$169,248
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Median rent 26% below the Texas median$1,031
Housing Market Overview
| Metric | Pharr | Texas Avg | US Average |
|---|---|---|---|
| Median Home Price | $169,248 | $258,873 | $248,835 |
| Price Trend (Annual %) | 23.0% | 9.2% | 7.5% |
| Median Gross Rent | $1,031 | $1,402 | $1,407 |
| Rent Trend (Annual %) | 4.7% | 5.6% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Pharr is about 35% lower than in Texas. Rent is about 26% 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 Pharr, up about 23.0% and 4.7% a year respectively. Home prices are changing faster.
Median rent in Pharr rose about 47.7% between 2015 and 2024, from $698 to $1,031. Over the same span, rent in Texas rose about 59.1%.
Affordability
On average, housing unit costs 3.1 yearly household incomes in Pharr.
Buying the median-priced home in Pharr costs roughly 13.7 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 Pharr. The price-to-rent ratio in Texas is about 15.4.
| Metric | Pharr | Texas Avg | US Average |
|---|---|---|---|
| Median Home Price | $169,248 | $258,873 | $248,835 |
| Median Household Income | $53,858 | $78,939 | $80,455 |
| Price-to-Income Ratio | 3.1 | 3.3 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Pharr rose about 204.3%, while median household income rose about 67.1% between 2009 and 2025 — 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 | Pharr | Texas Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 51.7% | 56.7% | 58.5% |
| Rental Rate | 36.3% | 33.9% | 31.2% |
| Vacancy Rate | 12.0% | 9.4% | 10.2% |
| Median Tenure (years) | 13.0 | 14.0 | 15.0 |
| Median Year Moved In | 2013 | 2012 | 2011 |
Pharr has a homeownership rate of 51.7%, lower than the Texas average of 56.7%. Its housing vacancy rate is 12.0%, compared with 9.4% in Texas.
Housing Stock
| Metric | Pharr | Texas Avg | US Average |
|---|---|---|---|
| Average Household Size | 3.32 people | 2.69 people | 2.53 people |
| Median Structure Built Year | 1999 | 1990 | 1978 |
| Median Number of Rooms | 4.7 | 5.4 | 5.5 |
The typical housing unit in Pharr was built around 1999. On average, 3.3 people live in a home with about 4.7 rooms, staying for about 13.0 years on average.
Pharr, TX Housing Compared With Nearby Cities
How Pharr, TX compares with the 1 cities closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Pharr, TX | 72,563 | $169,248 #2/2 | $1,031 #2/2 | 58.7% #1/2 |
| McAllen, TX | 146,716 | $246,778 | $1,054 | 58.7% |
Frequently Asked Questions
Common questions about the housing market in Pharr, Texas.
What is the median home price in Pharr, Texas?
The median home price in Pharr, Texas is $169,248, lower than the Texas average of $258,873.
What is the average home price in Pharr, Texas?
The typical home price in Pharr, Texas, reported as the median sale price, is $169,248. 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 Pharr, Texas?
The median gross rent in Pharr, Texas is $1,031 per month, lower than the Texas average of $1,402.
What was the median gross rent in Pharr in 2020?
In 2020, the median gross rent in Pharr, Texas was $780 per month.
What is the price-to-rent ratio in Pharr, Texas?
The price-to-rent ratio in Pharr, Texas is about 13.7, meaning it would take roughly 13.7 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 Pharr.
Are home prices or rent rising faster in Pharr, Texas?
Both home prices and rent are rising in Pharr, up about 23.0% and 4.7% a year respectively. Home prices are changing faster.
What is the homeownership rate in Pharr, Texas?
51.7% of households in Pharr, Texas own their home, lower than the Texas average of 56.7%.
What is the vacancy rate in Pharr, Texas?
The housing vacancy rate in Pharr, Texas is 12.0%, higher than the Texas average of 9.4%.
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