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 | Terrell County | Texas Avg | US Average |
|---|---|---|---|
| Median Home Price | $71,000 | $248,418 | $242,182 |
| Price Trend (Annual %) | 0.4% | 9.9% | 8.2% |
| Median Gross Rent | $808 | $1,338 | $1,342 |
| Rent Trend (Annual %) | -0.9% | 5.7% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Terrell County is about 71% lower than in Texas. Rent is about 40% lower than the Texas average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2023
Median Rent Prices, 2015-2023
Home prices and rent are moving in opposite directions in Terrell County: home prices rose about 0.4% a year while rent fell about 0.9% a year. That is an unusual pattern worth watching.
Median rent in Terrell County rose about 8.9% between 2015 and 2023, from $742 to $808. Over the same span, rent in Texas rose about 51.9%.
Affordability
On average, housing unit costs 1.4 yearly household incomes in Terrell County.
Buying the median-priced home in Terrell County costs roughly 7.3 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 Terrell County. The price-to-rent ratio in Texas is about 15.5.
| Metric | Terrell County | Texas Avg | US Average |
|---|---|---|---|
| Median Home Price | $71,000 | $248,418 | $242,182 |
| Median Household Income | $48,976 | $76,510 | $78,145 |
| Price-to-Income Ratio | 1.4 | 3.2 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Terrell County fell about 29.0%, while median household income rose about 35.5% 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 | Terrell County | Texas Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 60.6% | 56.5% | 58.2% |
| Rental Rate | 7.7% | 33.8% | 31.3% |
| Vacancy Rate | 31.7% | 9.6% | 10.6% |
| Median Tenure (years) | 19.0 | 14.0 | 15.0 |
| Median Year Moved In | 2007 | 2012 | 2011 |
Terrell County has a homeownership rate of 60.6%, higher than the Texas average of 56.5%. Its housing vacancy rate is 31.7%, compared with 9.6% in Texas.
Housing Stock
| Metric | Terrell County | Texas Avg | US Average |
|---|---|---|---|
| Average Household Size | 1.88 people | 2.70 people | 2.54 people |
| Median Structure Built Year | 1951 | 1989 | 1978 |
| Median Number of Rooms | 5.6 | 5.4 | 5.5 |
The typical housing unit in Terrell County was built around 1951. On average, 1.9 people live in a home with about 5.6 rooms, staying for about 19.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Terrell County, Texas.
What is the median home price in Terrell County, Texas?
The median home price in Terrell County, Texas is $71,000, lower than the Texas average of $248,418.
What is the average home price in Terrell 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 Terrell County, Texas?
The median gross rent in Terrell County, Texas is $808 per month, lower than the Texas average of $1,338.
What is the price-to-rent ratio in Terrell County, Texas?
The price-to-rent ratio in Terrell County, Texas is about 7.3, meaning it would take roughly 7.3 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 Terrell County.
Are home prices or rent rising faster in Terrell County, Texas?
Home prices and rent are moving in opposite directions in Terrell County: home prices rose about 0.4% a year while rent fell about 0.9% a year. That is an unusual pattern worth watching.
What is the homeownership rate in Terrell County, Texas?
60.6% of households in Terrell County, Texas own their home, higher than the Texas average of 56.5%.
What is the vacancy rate in Terrell County, Texas?
The housing vacancy rate in Terrell County, Texas is 31.7%, higher than the Texas average of 9.6%.