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 | Potter County | Texas Avg | US Average |
|---|---|---|---|
| Median Home Price | $108,387 | $248,418 | $242,182 |
| Price Trend (Annual %) | 0.6% | 9.9% | 8.2% |
| Median Gross Rent | $988 | $1,338 | $1,342 |
| Rent Trend (Annual %) | 4.6% | 5.7% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Potter County is about 56% lower than in Texas. Rent is about 26% 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 Potter County, up about 0.6% and 4.6% a year respectively. Rent is changing faster.
Median rent in Potter County rose about 38.1% between 2015 and 2023, from $716 to $988. Over the same span, rent in Texas rose about 51.9%.
Affordability
On average, housing unit costs 2.1 yearly household incomes in Potter County.
Buying the median-priced home in Potter County costs roughly 9.1 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 Potter County. The price-to-rent ratio in Texas is about 15.5.
| Metric | Potter County | Texas Avg | US Average |
|---|---|---|---|
| Median Home Price | $108,387 | $248,418 | $242,182 |
| Median Household Income | $50,634 | $76,510 | $78,145 |
| Price-to-Income Ratio | 2.1 | 3.2 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Potter County rose about 2.2%, while median household income rose about 45.3% 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 | Potter County | Texas Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 48.7% | 56.5% | 58.2% |
| Rental Rate | 37.5% | 33.8% | 31.3% |
| Vacancy Rate | 13.8% | 9.6% | 10.6% |
| Median Tenure (years) | 14.0 | 14.0 | 15.0 |
| Median Year Moved In | 2012 | 2012 | 2011 |
Potter County has a homeownership rate of 48.7%, lower than the Texas average of 56.5%. Its housing vacancy rate is 13.8%, compared with 9.6% in Texas.
Housing Stock
| Metric | Potter County | Texas Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.60 people | 2.70 people | 2.54 people |
| Median Structure Built Year | 1972 | 1989 | 1978 |
| Median Number of Rooms | 5.0 | 5.4 | 5.5 |
The typical housing unit in Potter County was built around 1972. On average, 2.6 people live in a home with about 5.0 rooms, staying for about 14.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Potter County, Texas.
What is the median home price in Potter County, Texas?
The median home price in Potter County, Texas is $108,387, lower than the Texas average of $248,418.
What is the average home price in Potter 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 Potter County, Texas?
The median gross rent in Potter County, Texas is $988 per month, lower than the Texas average of $1,338.
What was the median gross rent in Potter County in 2020?
In 2020, the median gross rent in Potter County, Texas was $825 per month.
What is the price-to-rent ratio in Potter County, Texas?
The price-to-rent ratio in Potter County, Texas is about 9.1, meaning it would take roughly 9.1 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 Potter County.
Are home prices or rent rising faster in Potter County, Texas?
Both home prices and rent are rising in Potter County, up about 0.6% and 4.6% a year respectively. Rent is changing faster.
What is the homeownership rate in Potter County, Texas?
48.7% of households in Potter County, Texas own their home, lower than the Texas average of 56.5%.
What is the vacancy rate in Potter County, Texas?
The housing vacancy rate in Potter County, Texas is 13.8%, higher than the Texas average of 9.6%.