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.
Housing Market Overview
| Metric | Saginaw | Texas Avg | US Average |
|---|---|---|---|
| Median Home Price | $185,850 | $248,418 | $242,182 |
| Price Trend (Annual %) | 10.0% | 9.9% | 8.2% |
| Median Gross Rent | $1,685 | $1,338 | $1,342 |
| Rent Trend (Annual %) | 5.6% | 5.7% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Saginaw is about 25% lower than in Texas. Rent is about 26% higher 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 Saginaw, up about 10.0% and 5.6% a year respectively. Home prices are changing faster.
Median rent in Saginaw rose about 50.0% between 2015 and 2023, from $1,124 to $1,685. Over the same span, rent in Texas rose about 51.9%.
Affordability
On average, housing unit costs 2.0 yearly household incomes in Saginaw.
Buying the median-priced home in Saginaw costs roughly 9.2 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 Saginaw. The price-to-rent ratio in Texas is about 15.5.
| Metric | Saginaw | Texas Avg | US Average |
|---|---|---|---|
| Median Home Price | $185,850 | $248,418 | $242,182 |
| Median Household Income | $94,465 | $76,510 | $78,145 |
| Price-to-Income Ratio | 2.0 | 3.2 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2021, the median home price in Saginaw rose about 55.9%, while median household income rose about 39.6% 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 | Saginaw | Texas Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 70.3% | 56.5% | 58.2% |
| Rental Rate | 27.0% | 33.8% | 31.3% |
| Vacancy Rate | 2.7% | 9.6% | 10.6% |
| Median Tenure (years) | 12.0 | 14.0 | 15.0 |
| Median Year Moved In | 2014 | 2012 | 2011 |
Saginaw has a homeownership rate of 70.3%, higher than the Texas average of 56.5%. Its housing vacancy rate is 2.7%, compared with 9.6% in Texas.
Housing Stock
| Metric | Saginaw | Texas Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.84 people | 2.70 people | 2.54 people |
| Median Structure Built Year | 1997 | 1989 | 1978 |
| Median Number of Rooms | 6.1 | 5.4 | 5.5 |
The typical housing unit in Saginaw was built around 1997. On average, 2.8 people live in a home with about 6.1 rooms, staying for about 12.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Saginaw, Texas.
What is the median home price in Saginaw, Texas?
The median home price in Saginaw, Texas is $185,850, lower than the Texas average of $248,418.
What is the average home price in Saginaw, 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 Saginaw, Texas?
The median gross rent in Saginaw, Texas is $1,685 per month, higher than the Texas average of $1,338.
What was the median gross rent in Saginaw in 2020?
In 2020, the median gross rent in Saginaw, Texas was $1,355 per month.
What is the price-to-rent ratio in Saginaw, Texas?
The price-to-rent ratio in Saginaw, Texas is about 9.2, meaning it would take roughly 9.2 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 Saginaw.
Are home prices or rent rising faster in Saginaw, Texas?
Both home prices and rent are rising in Saginaw, up about 10.0% and 5.6% a year respectively. Home prices are changing faster.
What is the homeownership rate in Saginaw, Texas?
70.3% of households in Saginaw, Texas own their home, higher than the Texas average of 56.5%.
What is the vacancy rate in Saginaw, Texas?
The housing vacancy rate in Saginaw, Texas is 2.7%, lower than the Texas average of 9.6%.