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 | Runnels County | Texas Avg | US Average |
|---|---|---|---|
| Median Home Price | $63,125 | $248,418 | $242,182 |
| Price Trend (Annual %) | 2.1% | 9.9% | 8.2% |
| Median Gross Rent | $893 | $1,338 | $1,342 |
| Rent Trend (Annual %) | 6.9% | 5.7% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Runnels County is about 75% 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 Runnels County, up about 2.1% and 6.9% a year respectively. Rent is changing faster.
Median rent in Runnels County rose about 69.4% between 2015 and 2023, from $527 to $893. Over the same span, rent in Texas rose about 51.9%.
Affordability
On average, housing unit costs 1.0 yearly household incomes in Runnels County.
Buying the median-priced home in Runnels County costs roughly 5.9 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 Runnels County. The price-to-rent ratio in Texas is about 15.5.
| Metric | Runnels County | Texas Avg | US Average |
|---|---|---|---|
| Median Home Price | $63,125 | $248,418 | $242,182 |
| Median Household Income | $63,070 | $76,510 | $78,145 |
| Price-to-Income Ratio | 1.0 | 3.2 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Runnels County rose about 9.1%, while median household income rose about 69.0% 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 | Runnels County | Texas Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 56.9% | 56.5% | 58.2% |
| Rental Rate | 19.3% | 33.8% | 31.3% |
| Vacancy Rate | 23.8% | 9.6% | 10.6% |
| Median Tenure (years) | 17.0 | 14.0 | 15.0 |
| Median Year Moved In | 2009 | 2012 | 2011 |
Runnels County has a homeownership rate of 56.9%, about the same as the Texas average of 56.5%. Its housing vacancy rate is 23.8%, compared with 9.6% in Texas.
Housing Stock
| Metric | Runnels County | Texas Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.55 people | 2.70 people | 2.54 people |
| Median Structure Built Year | 1964 | 1989 | 1978 |
| Median Number of Rooms | 5.5 | 5.4 | 5.5 |
The typical housing unit in Runnels County was built around 1964. On average, 2.5 people live in a home with about 5.5 rooms, staying for about 17.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Runnels County, Texas.
What is the median home price in Runnels County, Texas?
The median home price in Runnels County, Texas is $63,125, lower than the Texas average of $248,418.
What is the average home price in Runnels 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 Runnels County, Texas?
The median gross rent in Runnels County, Texas is $893 per month, lower than the Texas average of $1,338.
What was the median gross rent in Runnels County in 2020?
In 2020, the median gross rent in Runnels County, Texas was $762 per month.
What is the price-to-rent ratio in Runnels County, Texas?
The price-to-rent ratio in Runnels County, Texas is about 5.9, meaning it would take roughly 5.9 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 Runnels County.
Are home prices or rent rising faster in Runnels County, Texas?
Both home prices and rent are rising in Runnels County, up about 2.1% and 6.9% a year respectively. Rent is changing faster.
What is the homeownership rate in Runnels County, Texas?
56.9% of households in Runnels County, Texas own their home, higher than the Texas average of 56.5%.
What is the vacancy rate in Runnels County, Texas?
The housing vacancy rate in Runnels County, Texas is 23.8%, higher than the Texas average of 9.6%.