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 | Red River County | Texas Avg | US Average |
|---|---|---|---|
| Median Home Price | $236,110 | $248,418 | $242,182 |
| Price Trend (Annual %) | 44.1% | 9.9% | 8.2% |
| Median Gross Rent | $902 | $1,338 | $1,342 |
| Rent Trend (Annual %) | 7.2% | 5.7% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Red River County is about 5% lower than in Texas. Rent is about 33% 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 Red River County, up about 44.1% and 7.2% a year respectively. Home prices are changing faster.
Median rent in Red River County rose about 68.6% between 2015 and 2023, from $535 to $902. Over the same span, rent in Texas rose about 51.9%.
Affordability
On average, housing unit costs 5.0 yearly household incomes in Red River County.
Buying the median-priced home in Red River County costs roughly 21.8 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 Red River County. The price-to-rent ratio in Texas is about 15.5.
| Metric | Red River County | Texas Avg | US Average |
|---|---|---|---|
| Median Home Price | $236,110 | $248,418 | $242,182 |
| Median Household Income | $47,157 | $76,510 | $78,145 |
| Price-to-Income Ratio | 5.0 | 3.2 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Red River County rose about 387.2%, while median household income rose about 25.5% 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 | Red River County | Texas Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 56.8% | 56.5% | 58.2% |
| Rental Rate | 23.9% | 33.8% | 31.3% |
| Vacancy Rate | 19.3% | 9.6% | 10.6% |
| Median Tenure (years) | 18.0 | 14.0 | 15.0 |
| Median Year Moved In | 2008 | 2012 | 2011 |
Red River County has a homeownership rate of 56.8%, about the same as the Texas average of 56.5%. Its housing vacancy rate is 19.3%, compared with 9.6% in Texas.
Housing Stock
| Metric | Red River County | Texas Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.29 people | 2.70 people | 2.54 people |
| Median Structure Built Year | 1983 | 1989 | 1978 |
| Median Number of Rooms | 5.4 | 5.4 | 5.5 |
The typical housing unit in Red River County was built around 1983. On average, 2.3 people live in a home with about 5.4 rooms, staying for about 18.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Red River County, Texas.
What is the median home price in Red River County, Texas?
The median home price in Red River County, Texas is $236,110, lower than the Texas average of $248,418.
What is the average home price in Red River 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 Red River County, Texas?
The median gross rent in Red River County, Texas is $902 per month, lower than the Texas average of $1,338.
What was the median gross rent in Red River County in 2020?
In 2020, the median gross rent in Red River County, Texas was $571 per month.
What is the price-to-rent ratio in Red River County, Texas?
The price-to-rent ratio in Red River County, Texas is about 21.8, meaning it would take roughly 21.8 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 Red River County.
Are home prices or rent rising faster in Red River County, Texas?
Both home prices and rent are rising in Red River County, up about 44.1% and 7.2% a year respectively. Home prices are changing faster.
What is the homeownership rate in Red River County, Texas?
56.8% of households in Red River County, Texas own their home, about the same as the Texas average.
What is the vacancy rate in Red River County, Texas?
The housing vacancy rate in Red River County, Texas is 19.3%, higher than the Texas average of 9.6%.