Southlake, Texas Housing Market Prices
Southlake 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 14% above the Texas median$294,716
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Median rent 86% above the Texas median$2,614
Housing Market Overview
| Metric | Southlake | Texas Avg | US Average |
|---|---|---|---|
| Median Home Price | $294,716 | $258,873 | $248,835 |
| Price Trend (Annual %) | 35.1% | 9.2% | 7.5% |
| Median Gross Rent | $2,614 | $1,402 | $1,407 |
| Rent Trend (Annual %) | 11.2% | 5.6% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Southlake is about 14% higher than in Texas. Rent is about 86% higher 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 Southlake, up about 35.1% and 11.2% a year respectively. Home prices are changing faster.
Median rent in Southlake rose about 119.4% between 2015 and 2024, from $1,192 to $2,614. Over the same span, rent in Texas rose about 59.1%.
Affordability
On average, housing unit costs 1.4 yearly household incomes in Southlake.
Buying the median-priced home in Southlake costs roughly 9.4 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 Southlake. The price-to-rent ratio in Texas is about 15.4.
| Metric | Southlake | Texas Avg | US Average |
|---|---|---|---|
| Median Home Price | $294,716 | $258,873 | $248,835 |
| Median Household Income | $209,565 | $78,939 | $80,455 |
| Price-to-Income Ratio | 1.4 | 3.3 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Southlake rose about 85.4%, while median household income rose about 105.4% between 2009 and 2025 — 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 | Southlake | Texas Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 88.9% | 56.7% | 58.5% |
| Rental Rate | 7.4% | 33.9% | 31.2% |
| Vacancy Rate | 3.7% | 9.4% | 10.2% |
| Median Tenure (years) | 12.0 | 14.0 | 15.0 |
| Median Year Moved In | 2014 | 2012 | 2011 |
Southlake has a homeownership rate of 88.9%, higher than the Texas average of 56.7%. Its housing vacancy rate is 3.7%, compared with 9.4% in Texas.
Housing Stock
| Metric | Southlake | Texas Avg | US Average |
|---|---|---|---|
| Average Household Size | 3.26 people | 2.69 people | 2.53 people |
| Median Structure Built Year | 1998 | 1990 | 1978 |
| Median Number of Rooms | 8.7 | 5.4 | 5.5 |
The typical housing unit in Southlake was built around 1998. On average, 3.3 people live in a home with about 8.7 rooms, staying for about 12.0 years on average.
Southlake, TX Housing Compared With Nearby Cities
How Southlake, TX compares with the 2 cities closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Southlake, TX | 33,103 | $294,716 #3/3 | $2,614 #1/3 | 92.3% #1/3 |
| Keller, TX | 41,093 | $680,517 | $2,085 | 80.8% |
| Grapevine, TX | 49,363 | $608,763 | $1,847 | 54.9% |
Frequently Asked Questions
Common questions about the housing market in Southlake, Texas.
What is the median home price in Southlake, Texas?
The median home price in Southlake, Texas is $294,716, higher than the Texas average of $258,873.
What is the average home price in Southlake, Texas?
The typical home price in Southlake, Texas, reported as the median sale price, is $294,716. 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 Southlake, Texas?
The median gross rent in Southlake, Texas is $2,614 per month, higher than the Texas average of $1,402.
What was the median gross rent in Southlake in 2020?
In 2020, the median gross rent in Southlake, Texas was $1,247 per month.
What is the price-to-rent ratio in Southlake, Texas?
The price-to-rent ratio in Southlake, Texas is about 9.4, meaning it would take roughly 9.4 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 Southlake.
Are home prices or rent rising faster in Southlake, Texas?
Both home prices and rent are rising in Southlake, up about 35.1% and 11.2% a year respectively. Home prices are changing faster.
What is the homeownership rate in Southlake, Texas?
88.9% of households in Southlake, Texas own their home, higher than the Texas average of 56.7%.
What is the vacancy rate in Southlake, Texas?
The housing vacancy rate in Southlake, Texas is 3.7%, lower than the Texas average of 9.4%.
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