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 | Reagan County | Texas Avg | US Average |
|---|---|---|---|
| Median Home Price | $350,000 | $248,418 | $242,182 |
| Price Trend (Annual %) | 14.4% | 9.9% | 8.2% |
| Median Gross Rent | $806 | $1,338 | $1,342 |
| Rent Trend (Annual %) | 4.4% | 5.7% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Reagan County is about 41% higher than in Texas. Rent is about 40% lower than the Texas average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2021
Median Rent Prices, 2015-2023
Both home prices and rent are rising in Reagan County, up about 14.4% and 4.4% a year respectively. Home prices are changing faster.
Median rent in Reagan County rose about 28.2% between 2015 and 2023, from $628 to $806. Over the same span, rent in Texas rose about 51.9%.
Affordability
On average, housing unit costs 4.9 yearly household incomes in Reagan County.
Buying the median-priced home in Reagan County costs roughly 36.2 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 Reagan County. The price-to-rent ratio in Texas is about 15.5.
| Metric | Reagan County | Texas Avg | US Average |
|---|---|---|---|
| Median Home Price | $350,000 | $248,418 | $242,182 |
| Median Household Income | $71,285 | $76,510 | $78,145 |
| Price-to-Income Ratio | 4.9 | 3.2 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2021, the median home price in Reagan County rose about 115.4%, while median household income rose about 31.4% 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 | Reagan County | Texas Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 57.7% | 56.5% | 58.2% |
| Rental Rate | 18.2% | 33.8% | 31.3% |
| Vacancy Rate | 24.1% | 9.6% | 10.6% |
| Median Tenure (years) | 15.0 | 14.0 | 15.0 |
| Median Year Moved In | 2011 | 2012 | 2011 |
Reagan County has a homeownership rate of 57.7%, higher than the Texas average of 56.5%. Its housing vacancy rate is 24.1%, compared with 9.6% in Texas.
Housing Stock
| Metric | Reagan County | Texas Avg | US Average |
|---|---|---|---|
| Average Household Size | 3.10 people | 2.70 people | 2.54 people |
| Median Structure Built Year | 1980 | 1989 | 1978 |
| Median Number of Rooms | 5.3 | 5.4 | 5.5 |
The typical housing unit in Reagan County was built around 1980. On average, 3.1 people live in a home with about 5.3 rooms, staying for about 15.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Reagan County, Texas.
What is the median home price in Reagan County, Texas?
The median home price in Reagan County, Texas is $350,000, higher than the Texas average of $248,418.
What is the average home price in Reagan 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 Reagan County, Texas?
The median gross rent in Reagan County, Texas is $806 per month, lower than the Texas average of $1,338.
What was the median gross rent in Reagan County in 2020?
In 2020, the median gross rent in Reagan County, Texas was $857 per month.
What is the price-to-rent ratio in Reagan County, Texas?
The price-to-rent ratio in Reagan County, Texas is about 36.2, meaning it would take roughly 36.2 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 Reagan County.
Are home prices or rent rising faster in Reagan County, Texas?
Both home prices and rent are rising in Reagan County, up about 14.4% and 4.4% a year respectively. Home prices are changing faster.
What is the homeownership rate in Reagan County, Texas?
57.7% of households in Reagan County, Texas own their home, higher than the Texas average of 56.5%.
What is the vacancy rate in Reagan County, Texas?
The housing vacancy rate in Reagan County, Texas is 24.1%, higher than the Texas average of 9.6%.