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 | Yoakum County | Texas Avg | US Average |
|---|---|---|---|
| Median Home Price | $137,500 | $248,418 | $242,182 |
| Price Trend (Annual %) | 0.0% | 9.9% | 8.2% |
| Median Gross Rent | $931 | $1,338 | $1,342 |
| Rent Trend (Annual %) | 3.4% | 5.7% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Yoakum County is about 45% lower than in Texas. Rent is about 30% lower than the Texas average.
Median Home and Rent Price Trends
Median Home Prices, 2022-2023
Median Rent Prices, 2015-2023
Both home prices and rent are falling in Yoakum County, down about 0.0% and 3.4% a year respectively. Rent is changing faster.
Median rent in Yoakum County rose about 36.3% between 2015 and 2023, from $683 to $931. Over the same span, rent in Texas rose about 51.9%.
Affordability
On average, housing unit costs 1.7 yearly household incomes in Yoakum County.
Buying the median-priced home in Yoakum County costs roughly 12.3 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 Yoakum County. The price-to-rent ratio in Texas is about 15.5.
| Metric | Yoakum County | Texas Avg | US Average |
|---|---|---|---|
| Median Home Price | $137,500 | $248,418 | $242,182 |
| Median Household Income | $82,032 | $76,510 | $78,145 |
| Price-to-Income Ratio | 1.7 | 3.2 | 3.1 |
Home Prices vs Income Over Time
Between 2022 and 2023, the median home price in Yoakum County rose about 0.0%, while median household income rose about 71.1% 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 | Yoakum County | Texas Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 65.4% | 56.5% | 58.2% |
| Rental Rate | 21.3% | 33.8% | 31.3% |
| Vacancy Rate | 13.2% | 9.6% | 10.6% |
| Median Tenure (years) | 15.0 | 14.0 | 15.0 |
| Median Year Moved In | 2011 | 2012 | 2011 |
Yoakum County has a homeownership rate of 65.4%, higher than the Texas average of 56.5%. Its housing vacancy rate is 13.2%, compared with 9.6% in Texas.
Housing Stock
| Metric | Yoakum County | Texas Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.89 people | 2.70 people | 2.54 people |
| Median Structure Built Year | 1976 | 1989 | 1978 |
| Median Number of Rooms | 5.7 | 5.4 | 5.5 |
The typical housing unit in Yoakum County was built around 1976. On average, 2.9 people live in a home with about 5.7 rooms, staying for about 15.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Yoakum County, Texas.
What is the median home price in Yoakum County, Texas?
The median home price in Yoakum County, Texas is $137,500, lower than the Texas average of $248,418.
What is the average home price in Yoakum 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 Yoakum County, Texas?
The median gross rent in Yoakum County, Texas is $931 per month, lower than the Texas average of $1,338.
What was the median gross rent in Yoakum County in 2020?
In 2020, the median gross rent in Yoakum County, Texas was $882 per month.
What is the price-to-rent ratio in Yoakum County, Texas?
The price-to-rent ratio in Yoakum County, Texas is about 12.3, meaning it would take roughly 12.3 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 Yoakum County.
Are home prices or rent rising faster in Yoakum County, Texas?
Both home prices and rent are falling in Yoakum County, down about 0.0% and 3.4% a year respectively. Rent is changing faster.
What is the homeownership rate in Yoakum County, Texas?
65.4% of households in Yoakum County, Texas own their home, higher than the Texas average of 56.5%.
What is the vacancy rate in Yoakum County, Texas?
The housing vacancy rate in Yoakum County, Texas is 13.2%, higher than the Texas average of 9.6%.