Prosper, Texas Housing Market Prices
Prosper 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 202% above the Texas median$782,373
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Median rent 61% above the Texas median$2,261
Housing Market Overview
| Metric | Prosper | Texas Avg | US Average |
|---|---|---|---|
| Median Home Price | $782,373 | $258,873 | $248,835 |
| Price Trend (Annual %) | 5.9% | 9.2% | 7.5% |
| Median Gross Rent | $2,261 | $1,402 | $1,407 |
| Rent Trend (Annual %) | 7.7% | 5.6% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Prosper is about 202% higher than in Texas. Rent is about 61% higher 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 Prosper, up about 5.9% and 7.7% a year respectively. Rent is changing faster.
Median rent in Prosper rose about 75.7% between 2015 and 2024, from $1,287 to $2,261. Over the same span, rent in Texas rose about 59.1%.
Affordability
On average, housing unit costs 4.1 yearly household incomes in Prosper.
Buying the median-priced home in Prosper costs roughly 28.8 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 Prosper. The price-to-rent ratio in Texas is about 15.4.
| Metric | Prosper | Texas Avg | US Average |
|---|---|---|---|
| Median Home Price | $782,373 | $258,873 | $248,835 |
| Median Household Income | $189,740 | $78,939 | $80,455 |
| Price-to-Income Ratio | 4.1 | 3.3 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Prosper rose about 67.2%, while median household income rose about 120.7% between 2009 and 2025 — 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 | Prosper | Texas Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 83.1% | 56.7% | 58.5% |
| Rental Rate | 11.4% | 33.9% | 31.2% |
| Vacancy Rate | 5.5% | 9.4% | 10.2% |
| Median Tenure (years) | 10.0 | 14.0 | 15.0 |
| Median Year Moved In | 2016 | 2012 | 2011 |
Prosper has a homeownership rate of 83.1%, higher than the Texas average of 56.7%. Its housing vacancy rate is 5.5%, compared with 9.4% in Texas.
Housing Stock
| Metric | Prosper | Texas Avg | US Average |
|---|---|---|---|
| Average Household Size | 3.37 people | 2.69 people | 2.53 people |
| Median Structure Built Year | 2014 | 1990 | 1978 |
| Median Number of Rooms | 8.6 | 5.4 | 5.5 |
The typical housing unit in Prosper was built around 2014. On average, 3.4 people live in a home with about 8.6 rooms, staying for about 10.0 years on average.
Prosper, TX Housing Compared With Nearby Cities
How Prosper, TX compares with the 2 cities closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Prosper, TX | 42,836 | $782,373 #1/3 | $2,261 #2/3 | 87.9% #2/3 |
| Frisco, TX | 221,418 | $538,142 | $2,016 | 65.3% |
| Celina, TX | 22,149 | $268,493 | $2,432 | 92.4% |
Frequently Asked Questions
Common questions about the housing market in Prosper, Texas.
What is the median home price in Prosper, Texas?
The median home price in Prosper, Texas is $782,373, higher than the Texas average of $258,873.
What is the average home price in Prosper, Texas?
The typical home price in Prosper, Texas, reported as the median sale price, is $782,373. 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 Prosper, Texas?
The median gross rent in Prosper, Texas is $2,261 per month, higher than the Texas average of $1,402.
What was the median gross rent in Prosper in 2020?
In 2020, the median gross rent in Prosper, Texas was $1,682 per month.
What is the price-to-rent ratio in Prosper, Texas?
The price-to-rent ratio in Prosper, Texas is about 28.8, meaning it would take roughly 28.8 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 Prosper.
Are home prices or rent rising faster in Prosper, Texas?
Both home prices and rent are rising in Prosper, up about 5.9% and 7.7% a year respectively. Rent is changing faster.
What is the homeownership rate in Prosper, Texas?
83.1% of households in Prosper, Texas own their home, higher than the Texas average of 56.7%.
What is the vacancy rate in Prosper, Texas?
The housing vacancy rate in Prosper, Texas is 5.5%, lower than the Texas average of 9.4%.
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