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 | Polk County | Texas Avg | US Average |
|---|---|---|---|
| Median Home Price | $49,753 | $248,418 | $242,182 |
| Price Trend (Annual %) | 2.8% | 9.9% | 8.2% |
| Median Gross Rent | $1,009 | $1,338 | $1,342 |
| Rent Trend (Annual %) | 6.3% | 5.7% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Polk County is about 80% lower than in Texas. Rent is about 25% lower 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 Polk County, up about 2.8% and 6.3% a year respectively. Rent is changing faster.
Median rent in Polk County rose about 56.9% between 2015 and 2023, from $643 to $1,009. Over the same span, rent in Texas rose about 51.9%.
Affordability
On average, housing unit costs 0.8 yearly household incomes in Polk County.
Buying the median-priced home in Polk County costs roughly 4.1 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 Polk County. The price-to-rent ratio in Texas is about 15.5.
| Metric | Polk County | Texas Avg | US Average |
|---|---|---|---|
| Median Home Price | $49,753 | $248,418 | $242,182 |
| Median Household Income | $58,909 | $76,510 | $78,145 |
| Price-to-Income Ratio | 0.8 | 3.2 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Polk County fell about 32.9%, while median household income rose about 85.3% 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 | Polk County | Texas Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 56.1% | 56.5% | 58.2% |
| Rental Rate | 16.3% | 33.8% | 31.3% |
| Vacancy Rate | 27.7% | 9.6% | 10.6% |
| Median Tenure (years) | 14.0 | 14.0 | 15.0 |
| Median Year Moved In | 2012 | 2012 | 2011 |
Polk County has a homeownership rate of 56.1%, about the same as the Texas average of 56.5%. Its housing vacancy rate is 27.7%, compared with 9.6% in Texas.
Housing Stock
| Metric | Polk County | Texas Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.59 people | 2.70 people | 2.54 people |
| Median Structure Built Year | 1989 | 1989 | 1978 |
| Median Number of Rooms | 4.8 | 5.4 | 5.5 |
The typical housing unit in Polk County was built around 1989. On average, 2.6 people live in a home with about 4.8 rooms, staying for about 14.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Polk County, Texas.
What is the median home price in Polk County, Texas?
The median home price in Polk County, Texas is $49,753, lower than the Texas average of $248,418.
What is the average home price in Polk 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 Polk County, Texas?
The median gross rent in Polk County, Texas is $1,009 per month, lower than the Texas average of $1,338.
What was the median gross rent in Polk County in 2020?
In 2020, the median gross rent in Polk County, Texas was $788 per month.
What is the price-to-rent ratio in Polk County, Texas?
The price-to-rent ratio in Polk County, Texas is about 4.1, meaning it would take roughly 4.1 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 Polk County.
Are home prices or rent rising faster in Polk County, Texas?
Both home prices and rent are rising in Polk County, up about 2.8% and 6.3% a year respectively. Rent is changing faster.
What is the homeownership rate in Polk County, Texas?
56.1% of households in Polk County, Texas own their home, lower than the Texas average of 56.5%.
What is the vacancy rate in Polk County, Texas?
The housing vacancy rate in Polk County, Texas is 27.7%, higher than the Texas average of 9.6%.