Sherman, Texas Housing Market Prices
Sherman 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 15% above the Texas median$298,298
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Median rent 7% below the Texas median$1,308
Housing Market Overview
| Metric | Sherman | Texas Avg | US Average |
|---|---|---|---|
| Median Home Price | $298,298 | $258,873 | $248,835 |
| Price Trend (Annual %) | 22.5% | 9.2% | 7.5% |
| Median Gross Rent | $1,308 | $1,402 | $1,407 |
| Rent Trend (Annual %) | 6.4% | 5.6% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Sherman is about 15% higher than in Texas. Rent is about 7% lower 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 Sherman, up about 22.5% and 6.4% a year respectively. Home prices are changing faster.
Median rent in Sherman rose about 61.7% between 2015 and 2024, from $809 to $1,308. Over the same span, rent in Texas rose about 59.1%.
Affordability
On average, housing unit costs 5.3 yearly household incomes in Sherman.
Buying the median-priced home in Sherman costs roughly 19.0 years of rent at the median monthly rate. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Sherman. The price-to-rent ratio in Texas is about 15.4.
| Metric | Sherman | Texas Avg | US Average |
|---|---|---|---|
| Median Home Price | $298,298 | $258,873 | $248,835 |
| Median Household Income | $56,417 | $78,939 | $80,455 |
| Price-to-Income Ratio | 5.3 | 3.3 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Sherman rose about 225.3%, while median household income rose about 37.4% between 2009 and 2025 — 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 | Sherman | Texas Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 45.8% | 56.7% | 58.5% |
| Rental Rate | 46.9% | 33.9% | 31.2% |
| Vacancy Rate | 7.3% | 9.4% | 10.2% |
| Median Tenure (years) | 11.0 | 14.0 | 15.0 |
| Median Year Moved In | 2015 | 2012 | 2011 |
Sherman has a homeownership rate of 45.8%, lower than the Texas average of 56.7%. Its housing vacancy rate is 7.3%, compared with 9.4% in Texas.
Housing Stock
| Metric | Sherman | Texas Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.41 people | 2.69 people | 2.53 people |
| Median Structure Built Year | 1978 | 1990 | 1978 |
| Median Number of Rooms | 5.1 | 5.4 | 5.5 |
The typical housing unit in Sherman was built around 1978. On average, 2.4 people live in a home with about 5.1 rooms, staying for about 11.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Sherman, Texas.
What is the median home price in Sherman, Texas?
The median home price in Sherman, Texas is $298,298, higher than the Texas average of $258,873.
What is the average home price in Sherman, Texas?
The typical home price in Sherman, Texas, reported as the median sale price, is $298,298. 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 Sherman, Texas?
The median gross rent in Sherman, Texas is $1,308 per month, lower than the Texas average of $1,402.
What was the median gross rent in Sherman in 2020?
In 2020, the median gross rent in Sherman, Texas was $886 per month.
What is the price-to-rent ratio in Sherman, Texas?
The price-to-rent ratio in Sherman, Texas is about 19.0, meaning it would take roughly 19.0 years of rent payments at the median rent to equal the median home price. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Sherman.
Are home prices or rent rising faster in Sherman, Texas?
Both home prices and rent are rising in Sherman, up about 22.5% and 6.4% a year respectively. Home prices are changing faster.
What is the homeownership rate in Sherman, Texas?
45.8% of households in Sherman, Texas own their home, lower than the Texas average of 56.7%.
What is the vacancy rate in Sherman, Texas?
The housing vacancy rate in Sherman, Texas is 7.3%, lower than the Texas average of 9.4%.
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