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.
Housing Market Overview
| Metric | Watauga | Texas Avg | US Average |
|---|---|---|---|
| Median Home Price | $226,808 | $248,418 | $242,182 |
| Price Trend (Annual %) | 35.6% | 9.9% | 8.2% |
| Median Gross Rent | $1,905 | $1,338 | $1,342 |
| Rent Trend (Annual %) | 5.9% | 5.7% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Watauga is about 9% lower than in Texas. Rent is about 42% 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 Watauga, up about 35.6% and 5.9% a year respectively. Home prices are changing faster.
Median rent in Watauga rose about 45.7% between 2015 and 2023, from $1,307 to $1,905. Over the same span, rent in Texas rose about 51.9%.
Affordability
On average, housing unit costs 2.5 yearly household incomes in Watauga.
Buying the median-priced home in Watauga costs roughly 9.9 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 Watauga. The price-to-rent ratio in Texas is about 15.5.
| Metric | Watauga | Texas Avg | US Average |
|---|---|---|---|
| Median Home Price | $226,808 | $248,418 | $242,182 |
| Median Household Income | $91,932 | $76,510 | $78,145 |
| Price-to-Income Ratio | 2.5 | 3.2 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Watauga rose about 146.1%, while median household income rose about 43.2% 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 | Watauga | Texas Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 78.9% | 56.5% | 58.2% |
| Rental Rate | 17.5% | 33.8% | 31.3% |
| Vacancy Rate | 3.7% | 9.6% | 10.6% |
| Median Tenure (years) | 16.0 | 14.0 | 15.0 |
| Median Year Moved In | 2010 | 2012 | 2011 |
Watauga has a homeownership rate of 78.9%, higher than the Texas average of 56.5%. Its housing vacancy rate is 3.7%, compared with 9.6% in Texas.
Housing Stock
| Metric | Watauga | Texas Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.89 people | 2.70 people | 2.54 people |
| Median Structure Built Year | 1983 | 1989 | 1978 |
| Median Number of Rooms | 5.6 | 5.4 | 5.5 |
The typical housing unit in Watauga was built around 1983. On average, 2.9 people live in a home with about 5.6 rooms, staying for about 16.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Watauga, Texas.
What is the median home price in Watauga, Texas?
The median home price in Watauga, Texas is $226,808, lower than the Texas average of $248,418.
What is the average home price in Watauga, 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 Watauga, Texas?
The median gross rent in Watauga, Texas is $1,905 per month, higher than the Texas average of $1,338.
What was the median gross rent in Watauga in 2020?
In 2020, the median gross rent in Watauga, Texas was $1,461 per month.
What is the price-to-rent ratio in Watauga, Texas?
The price-to-rent ratio in Watauga, Texas is about 9.9, meaning it would take roughly 9.9 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 Watauga.
Are home prices or rent rising faster in Watauga, Texas?
Both home prices and rent are rising in Watauga, up about 35.6% and 5.9% a year respectively. Home prices are changing faster.
What is the homeownership rate in Watauga, Texas?
78.9% of households in Watauga, Texas own their home, higher than the Texas average of 56.5%.
What is the vacancy rate in Watauga, Texas?
The housing vacancy rate in Watauga, Texas is 3.7%, lower than the Texas average of 9.6%.