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 | Young County | Texas Avg | US Average |
|---|---|---|---|
| Median Home Price | $137,784 | $248,418 | $242,182 |
| Price Trend (Annual %) | 8.1% | 9.9% | 8.2% |
| Median Gross Rent | $849 | $1,338 | $1,342 |
| Rent Trend (Annual %) | 4.7% | 5.7% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Young County is about 45% lower than in Texas. Rent is about 37% 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 Young County, up about 8.1% and 4.7% a year respectively. Home prices are changing faster.
Median rent in Young County rose about 36.5% between 2015 and 2023, from $622 to $849. Over the same span, rent in Texas rose about 51.9%.
Affordability
On average, housing unit costs 2.2 yearly household incomes in Young County.
Buying the median-priced home in Young County costs roughly 13.5 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 Young County. The price-to-rent ratio in Texas is about 15.5.
| Metric | Young County | Texas Avg | US Average |
|---|---|---|---|
| Median Home Price | $137,784 | $248,418 | $242,182 |
| Median Household Income | $62,930 | $76,510 | $78,145 |
| Price-to-Income Ratio | 2.2 | 3.2 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Young County rose about 7.8%, while median household income rose about 61.7% 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 | Young County | Texas Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 66.0% | 56.5% | 58.2% |
| Rental Rate | 24.7% | 33.8% | 31.3% |
| Vacancy Rate | 9.2% | 9.6% | 10.6% |
| Median Tenure (years) | 15.0 | 14.0 | 15.0 |
| Median Year Moved In | 2011 | 2012 | 2011 |
Young County has a homeownership rate of 66.0%, higher than the Texas average of 56.5%. Its housing vacancy rate is 9.2%, compared with 9.6% in Texas.
Housing Stock
| Metric | Young County | Texas Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.28 people | 2.70 people | 2.54 people |
| Median Structure Built Year | 1976 | 1989 | 1978 |
| Median Number of Rooms | 5.8 | 5.4 | 5.5 |
The typical housing unit in Young County was built around 1976. On average, 2.3 people live in a home with about 5.8 rooms, staying for about 15.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Young County, Texas.
What is the median home price in Young County, Texas?
The median home price in Young County, Texas is $137,784, lower than the Texas average of $248,418.
What is the average home price in Young 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 Young County, Texas?
The median gross rent in Young County, Texas is $849 per month, lower than the Texas average of $1,338.
What was the median gross rent in Young County in 2020?
In 2020, the median gross rent in Young County, Texas was $678 per month.
What is the price-to-rent ratio in Young County, Texas?
The price-to-rent ratio in Young County, Texas is about 13.5, meaning it would take roughly 13.5 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 Young County.
Are home prices or rent rising faster in Young County, Texas?
Both home prices and rent are rising in Young County, up about 8.1% and 4.7% a year respectively. Home prices are changing faster.
What is the homeownership rate in Young County, Texas?
66.0% of households in Young County, Texas own their home, higher than the Texas average of 56.5%.
What is the vacancy rate in Young County, Texas?
The housing vacancy rate in Young County, Texas is 9.2%, lower than the Texas average of 9.6%.