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 | Sherman County | Texas Avg | US Average |
|---|---|---|---|
| Median Home Price | $37,500 | $248,418 | $242,182 |
| Price Trend (Annual %) | -6.4% | 9.9% | 8.2% |
| Median Gross Rent | $881 | $1,338 | $1,342 |
| Rent Trend (Annual %) | 5.9% | 5.7% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Sherman County is about 85% lower than in Texas. Rent is about 34% lower than the Texas average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2022
Median Rent Prices, 2015-2023
Home prices and rent are moving in opposite directions in Sherman County: home prices fell about 6.4% a year while rent rose about 5.9% a year. That is an unusual pattern worth watching.
Median rent in Sherman County rose about 41.9% between 2015 and 2023, from $621 to $881. Over the same span, rent in Texas rose about 51.9%.
Affordability
On average, housing unit costs 0.5 yearly household incomes in Sherman County.
Buying the median-priced home in Sherman County costs roughly 3.5 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 Sherman County. The price-to-rent ratio in Texas is about 15.5.
| Metric | Sherman County | Texas Avg | US Average |
|---|---|---|---|
| Median Home Price | $37,500 | $248,418 | $242,182 |
| Median Household Income | $74,768 | $76,510 | $78,145 |
| Price-to-Income Ratio | 0.5 | 3.2 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2022, the median home price in Sherman County fell about 35.7%, while median household income rose about 85.4% 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 | Sherman County | Texas Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 56.1% | 56.5% | 58.2% |
| Rental Rate | 19.2% | 33.8% | 31.3% |
| Vacancy Rate | 24.6% | 9.6% | 10.6% |
| Median Tenure (years) | 16.0 | 14.0 | 15.0 |
| Median Year Moved In | 2010 | 2012 | 2011 |
Sherman County has a homeownership rate of 56.1%, about the same as the Texas average of 56.5%. Its housing vacancy rate is 24.6%, compared with 9.6% in Texas.
Housing Stock
| Metric | Sherman County | Texas Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.85 people | 2.70 people | 2.54 people |
| Median Structure Built Year | 1971 | 1989 | 1978 |
| Median Number of Rooms | 6.2 | 5.4 | 5.5 |
The typical housing unit in Sherman County was built around 1971. On average, 2.8 people live in a home with about 6.2 rooms, staying for about 16.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Sherman County, Texas.
What is the median home price in Sherman County, Texas?
The median home price in Sherman County, Texas is $37,500, lower than the Texas average of $248,418.
What is the average home price in Sherman 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 Sherman County, Texas?
The median gross rent in Sherman County, Texas is $881 per month, lower than the Texas average of $1,338.
What was the median gross rent in Sherman County in 2020?
In 2020, the median gross rent in Sherman County, Texas was $792 per month.
What is the price-to-rent ratio in Sherman County, Texas?
The price-to-rent ratio in Sherman County, Texas is about 3.5, meaning it would take roughly 3.5 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 Sherman County.
Are home prices or rent rising faster in Sherman County, Texas?
Home prices and rent are moving in opposite directions in Sherman County: home prices fell about 6.4% a year while rent rose about 5.9% a year. That is an unusual pattern worth watching.
What is the homeownership rate in Sherman County, Texas?
56.1% of households in Sherman County, Texas own their home, lower than the Texas average of 56.5%.
What is the vacancy rate in Sherman County, Texas?
The housing vacancy rate in Sherman County, Texas is 24.6%, higher than the Texas average of 9.6%.