University Park, Texas Housing Market Prices
University Park 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 35% above the Texas median$350,000
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Median rent 133% above the Texas median$3,272
Housing Market Overview
| Metric | University Park | Texas Avg | US Average |
|---|---|---|---|
| Median Home Price | $350,000 | $258,873 | $248,835 |
| Price Trend (Annual %) | -7.3% | 9.2% | 7.5% |
| Median Gross Rent | $3,272 | $1,402 | $1,407 |
| Rent Trend (Annual %) | 8.6% | 5.6% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in University Park is about 35% higher than in Texas. Rent is about 133% higher than the Texas average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Home prices and rent are moving in opposite directions in University Park: home prices fell about 7.3% a year while rent rose about 8.6% a year. That is an unusual pattern worth watching.
Median rent in University Park rose about 73.5% between 2015 and 2024, from $1,885 to $3,272. Over the same span, rent in Texas rose about 59.1%.
Affordability
On average, housing unit costs 1.7 yearly household incomes in University Park.
Buying the median-priced home in University Park costs roughly 8.9 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 University Park. The price-to-rent ratio in Texas is about 15.4.
| Metric | University Park | Texas Avg | US Average |
|---|---|---|---|
| Median Home Price | $350,000 | $258,873 | $248,835 |
| Median Household Income | $207,349 | $78,939 | $80,455 |
| Price-to-Income Ratio | 1.7 | 3.3 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in University Park rose about 79.4%, while median household income rose about 105.1% 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 | University Park | Texas Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 77.8% | 56.7% | 58.5% |
| Rental Rate | 15.7% | 33.9% | 31.2% |
| Vacancy Rate | 6.4% | 9.4% | 10.2% |
| Median Tenure (years) | 10.0 | 14.0 | 15.0 |
| Median Year Moved In | 2016 | 2012 | 2011 |
University Park has a homeownership rate of 77.8%, higher than the Texas average of 56.7%. Its housing vacancy rate is 6.4%, compared with 9.4% in Texas.
Housing Stock
| Metric | University Park | Texas Avg | US Average |
|---|---|---|---|
| Average Household Size | 3.11 people | 2.69 people | 2.53 people |
| Median Structure Built Year | 1992 | 1990 | 1978 |
| Median Number of Rooms | 8.6 | 5.4 | 5.5 |
The typical housing unit in University Park was built around 1992. On average, 3.1 people live in a home with about 8.6 rooms, staying for about 10.0 years on average.
University Park, TX Housing Compared With Nearby Cities
How University Park, TX compares with the 2 cities closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| University Park, TX | 25,094 | $350,000 #3/3 | $3,272 #1/3 | 83.2% #1/3 |
| Dallas, TX | 1,350,137 | $413,834 | $1,482 | 43.3% |
| Farmers Branch, TX | 29,458 | $592,335 | $1,818 | 51.9% |
Frequently Asked Questions
Common questions about the housing market in University Park, Texas.
What is the median home price in University Park, Texas?
The median home price in University Park, Texas is $350,000, higher than the Texas average of $258,873.
What is the average home price in University Park, Texas?
The typical home price in University Park, Texas, reported as the median sale price, is $350,000. 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 University Park, Texas?
The median gross rent in University Park, Texas is $3,272 per month, higher than the Texas average of $1,402.
What was the median gross rent in University Park in 2020?
In 2020, the median gross rent in University Park, Texas was $2,096 per month.
What is the price-to-rent ratio in University Park, Texas?
The price-to-rent ratio in University Park, Texas is about 8.9, meaning it would take roughly 8.9 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 University Park.
Are home prices or rent rising faster in University Park, Texas?
Home prices and rent are moving in opposite directions in University Park: home prices fell about 7.3% a year while rent rose about 8.6% a year. That is an unusual pattern worth watching.
What is the homeownership rate in University Park, Texas?
77.8% of households in University Park, Texas own their home, higher than the Texas average of 56.7%.
What is the vacancy rate in University Park, Texas?
The housing vacancy rate in University Park, Texas is 6.4%, lower than the Texas average of 9.4%.
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