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 | Throckmorton County | Texas Avg | US Average |
|---|---|---|---|
| Median Home Price | $372,222 | $248,418 | $242,182 |
| Price Trend (Annual %) | 81.6% | 9.9% | 8.2% |
| Median Gross Rent | $547 | $1,338 | $1,342 |
| Rent Trend (Annual %) | 4.5% | 5.7% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Throckmorton County is about 50% higher than in Texas. Rent is about 59% 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 Throckmorton County, up about 81.6% and 4.5% a year respectively. Home prices are changing faster.
Median rent in Throckmorton County rose about 18.8% between 2015 and 2023, from $461 to $547. Over the same span, rent in Texas rose about 51.9%.
Affordability
On average, housing unit costs 6.4 yearly household incomes in Throckmorton County.
Buying the median-priced home in Throckmorton County costs roughly 56.7 years of rent at the median monthly rate. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Throckmorton County. The price-to-rent ratio in Texas is about 15.5.
| Metric | Throckmorton County | Texas Avg | US Average |
|---|---|---|---|
| Median Home Price | $372,222 | $248,418 | $242,182 |
| Median Household Income | $58,484 | $76,510 | $78,145 |
| Price-to-Income Ratio | 6.4 | 3.2 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Throckmorton County rose about 183.6%, while median household income rose about 71.9% 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 | Throckmorton County | Texas Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 52.3% | 56.5% | 58.2% |
| Rental Rate | 19.2% | 33.8% | 31.3% |
| Vacancy Rate | 28.5% | 9.6% | 10.6% |
| Median Tenure (years) | 18.0 | 14.0 | 15.0 |
| Median Year Moved In | 2008 | 2012 | 2011 |
Throckmorton County has a homeownership rate of 52.3%, lower than the Texas average of 56.5%. Its housing vacancy rate is 28.5%, compared with 9.6% in Texas.
Housing Stock
| Metric | Throckmorton County | Texas Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.32 people | 2.70 people | 2.54 people |
| Median Structure Built Year | 1965 | 1989 | 1978 |
| Median Number of Rooms | 5.5 | 5.4 | 5.5 |
The typical housing unit in Throckmorton County was built around 1965. On average, 2.3 people live in a home with about 5.5 rooms, staying for about 18.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Throckmorton County, Texas.
What is the median home price in Throckmorton County, Texas?
The median home price in Throckmorton County, Texas is $372,222, higher than the Texas average of $248,418.
What is the average home price in Throckmorton 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 Throckmorton County, Texas?
The median gross rent in Throckmorton County, Texas is $547 per month, lower than the Texas average of $1,338.
What was the median gross rent in Throckmorton County in 2020?
In 2020, the median gross rent in Throckmorton County, Texas was $604 per month.
What is the price-to-rent ratio in Throckmorton County, Texas?
The price-to-rent ratio in Throckmorton County, Texas is about 56.7, meaning it would take roughly 56.7 years of rent payments at the median rent to equal the median home price. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Throckmorton County.
Are home prices or rent rising faster in Throckmorton County, Texas?
Both home prices and rent are rising in Throckmorton County, up about 81.6% and 4.5% a year respectively. Home prices are changing faster.
What is the homeownership rate in Throckmorton County, Texas?
52.3% of households in Throckmorton County, Texas own their home, lower than the Texas average of 56.5%.
What is the vacancy rate in Throckmorton County, Texas?
The housing vacancy rate in Throckmorton County, Texas is 28.5%, higher than the Texas average of 9.6%.