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 | Tarrant County | Texas Avg | US Average |
|---|---|---|---|
| Median Home Price | $309,080 | $248,418 | $242,182 |
| Price Trend (Annual %) | 14.4% | 9.9% | 8.2% |
| Median Gross Rent | $1,446 | $1,338 | $1,342 |
| Rent Trend (Annual %) | 6.3% | 5.7% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Tarrant County is about 24% higher than in Texas. Rent is about 8% higher 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 Tarrant County, up about 14.4% and 6.3% a year respectively. Home prices are changing faster.
Median rent in Tarrant County rose about 58.3% between 2015 and 2023, from $914 to $1,446. Over the same span, rent in Texas rose about 51.9%.
Affordability
On average, housing unit costs 3.7 yearly household incomes in Tarrant County.
Buying the median-priced home in Tarrant County costs roughly 17.8 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 Tarrant County. The price-to-rent ratio in Texas is about 15.5.
| Metric | Tarrant County | Texas Avg | US Average |
|---|---|---|---|
| Median Home Price | $309,080 | $248,418 | $242,182 |
| Median Household Income | $82,644 | $76,510 | $78,145 |
| Price-to-Income Ratio | 3.7 | 3.2 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Tarrant County rose about 152.4%, while median household income rose about 49.9% 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 | Tarrant County | Texas Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 55.2% | 56.5% | 58.2% |
| Rental Rate | 37.8% | 33.8% | 31.3% |
| Vacancy Rate | 7.1% | 9.6% | 10.6% |
| Median Tenure (years) | 13.0 | 14.0 | 15.0 |
| Median Year Moved In | 2013 | 2012 | 2011 |
Tarrant County has a homeownership rate of 55.2%, lower than the Texas average of 56.5%. Its housing vacancy rate is 7.1%, compared with 9.6% in Texas.
Housing Stock
| Metric | Tarrant County | Texas Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.74 people | 2.70 people | 2.54 people |
| Median Structure Built Year | 1986 | 1989 | 1978 |
| Median Number of Rooms | 5.5 | 5.4 | 5.5 |
The typical housing unit in Tarrant County was built around 1986. On average, 2.7 people live in a home with about 5.5 rooms, staying for about 13.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Tarrant County, Texas.
What is the median home price in Tarrant County, Texas?
The median home price in Tarrant County, Texas is $309,080, higher than the Texas average of $248,418.
What is the average home price in Tarrant 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 Tarrant County, Texas?
The median gross rent in Tarrant County, Texas is $1,446 per month, higher than the Texas average of $1,338.
What was the median gross rent in Tarrant County in 2020?
In 2020, the median gross rent in Tarrant County, Texas was $1,142 per month.
What is the price-to-rent ratio in Tarrant County, Texas?
The price-to-rent ratio in Tarrant County, Texas is about 17.8, meaning it would take roughly 17.8 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 Tarrant County.
Are home prices or rent rising faster in Tarrant County, Texas?
Both home prices and rent are rising in Tarrant County, up about 14.4% and 6.3% a year respectively. Home prices are changing faster.
What is the homeownership rate in Tarrant County, Texas?
55.2% of households in Tarrant County, Texas own their home, lower than the Texas average of 56.5%.
What is the vacancy rate in Tarrant County, Texas?
The housing vacancy rate in Tarrant County, Texas is 7.1%, lower than the Texas average of 9.6%.