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 | Taylor County | Texas Avg | US Average |
|---|---|---|---|
| Median Home Price | $246,058 | $248,418 | $242,182 |
| Price Trend (Annual %) | 15.4% | 9.9% | 8.2% |
| Median Gross Rent | $1,111 | $1,338 | $1,342 |
| Rent Trend (Annual %) | 4.6% | 5.7% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Taylor County is about 1% lower than in Texas. Rent is about 17% lower 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 Taylor County, up about 15.4% and 4.6% a year respectively. Home prices are changing faster.
Median rent in Taylor County rose about 42.9% between 2015 and 2023, from $777 to $1,111. Over the same span, rent in Texas rose about 51.9%.
Affordability
On average, housing unit costs 3.7 yearly household incomes in Taylor County.
Buying the median-priced home in Taylor County costs roughly 18.5 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 Taylor County. The price-to-rent ratio in Texas is about 15.5.
| Metric | Taylor County | Texas Avg | US Average |
|---|---|---|---|
| Median Home Price | $246,058 | $248,418 | $242,182 |
| Median Household Income | $66,916 | $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 Taylor County rose about 114.7%, while median household income rose about 66.0% 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 | Taylor County | Texas Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 52.8% | 56.5% | 58.2% |
| Rental Rate | 35.5% | 33.8% | 31.3% |
| Vacancy Rate | 11.7% | 9.6% | 10.6% |
| Median Tenure (years) | 13.0 | 14.0 | 15.0 |
| Median Year Moved In | 2013 | 2012 | 2011 |
Taylor County has a homeownership rate of 52.8%, lower than the Texas average of 56.5%. Its housing vacancy rate is 11.7%, compared with 9.6% in Texas.
Housing Stock
| Metric | Taylor County | Texas Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.53 people | 2.70 people | 2.54 people |
| Median Structure Built Year | 1978 | 1989 | 1978 |
| Median Number of Rooms | 5.4 | 5.4 | 5.5 |
The typical housing unit in Taylor County was built around 1978. On average, 2.5 people live in a home with about 5.4 rooms, staying for about 13.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Taylor County, Texas.
What is the median home price in Taylor County, Texas?
The median home price in Taylor County, Texas is $246,058, lower than the Texas average of $248,418.
What is the average home price in Taylor 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 Taylor County, Texas?
The median gross rent in Taylor County, Texas is $1,111 per month, lower than the Texas average of $1,338.
What was the median gross rent in Taylor County in 2020?
In 2020, the median gross rent in Taylor County, Texas was $921 per month.
What is the price-to-rent ratio in Taylor County, Texas?
The price-to-rent ratio in Taylor County, Texas is about 18.5, meaning it would take roughly 18.5 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 Taylor County.
Are home prices or rent rising faster in Taylor County, Texas?
Both home prices and rent are rising in Taylor County, up about 15.4% and 4.6% a year respectively. Home prices are changing faster.
What is the homeownership rate in Taylor County, Texas?
52.8% of households in Taylor County, Texas own their home, lower than the Texas average of 56.5%.
What is the vacancy rate in Taylor County, Texas?
The housing vacancy rate in Taylor County, Texas is 11.7%, higher than the Texas average of 9.6%.