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Sarah Mitchell
Compass Real Estate · Texas
“Your trusted relocation specialist since 2009. 350+ homes sold. Zero-pressure, data-first approach.”
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Texas housing market
Texas housing market summary
The typical home in Texas is worth $299,367, down 1.6% over the past year. Homes that actually closed went for a median of $356,100 after 56 days on market. On supply, pricing discipline, and speed of sale, Texas currently reads as a leaning buyer's at 4.6 months of supply. At today's 7.03% 30-year fixed rate, that typical home costs $1,598 a month in principal and interest with 20.0% down.
Sources: Zillow, August 2026 · Refreshes monthly · Redfin, through May 2026 · Freddie Mac via FRED, September 2026
Texas housing market at a glance
Every tile carries the provider and the month it was published
Typical home value
$299,367
-1.6% YoY · Zillow, August 2026
Median sale price
$356,100
Redfin, through May 2026
Typical asking rent
$1,591/mo
Median of 143 cities · Zillow, August 2026
30-yr fixed rate
7.03%
Freddie Mac via FRED, September 2026
Monthly P&I
$1,598
20.0% down, 30-yr fixed
Days on market
56
+4 days YoY
Active listings
134,656
-10.8% YoY
Median household income
$76,292
U.S. Census ACS, 2023
Typical home value is Zillow's ZHVI — the value of a typical home across the whole housing stock, not just the homes that sold. Median sale price is what actually closed. Redfin stopped publishing public market trackers in June 2026; latest available period is May 2026.
Where Texas home prices are heading
Texas's typical home value is $299,367, down 1.6% over 12 months. The two-year number matters more than the one-year number: it spans a full rate cycle rather than a single seasonal swing. Values are currently 3.9% below their two-year high, which means sellers who bought at the top may need to bring money to closing rather than take equity out of it.
Against the national picture, Texas runs 18.8% below the U.S. typical home value of $368,697, and its 12-month move of -1.6% is trailing the national pace of +1.2%.
What would have to change for Texas prices to fall. Prices fall when supply outruns demand for long enough that sellers compete on price rather than waiting. Texas is carrying 4.6 months of supply — inside the four-to-six-month band where neither side dictates terms. Active listings are -10.8% year over year and new listings -12.2%, so supply is still tightening, which supports prices even with weak demand. The other lever is the rate. At 7.03%, existing owners with cheaper mortgages have little reason to list, which is what has kept supply artificially low across most of the country. A sustained move down in rates unlocks those sellers and adds inventory; it also adds buyers. Which side moves first decides the direction.
Market trends
Statewide monthly series · Redfin, through May 2026 · No longer updating · Redfin stopped publishing public market trackers in June 2026; latest available period is May 2026.
What it costs to buy in Texas at today's rate
Down payment
$59,873
20.0% of value
Loan amount
$239,494
30-yr fixed
Monthly P&I
$1,598
at 7.03%
Income needed
$68,486
28.0% front-end ratio
A buyer purchasing the typical Texas home at $299,367 puts $59,873 down, finances $239,494, and pays $1,598 a month in principal and interest. Property taxes, homeowners insurance, HOA dues, and mortgage insurance sit on top of that and vary by county — budget for them separately rather than assuming the P&I figure is the payment.
Lenders typically want principal and interest under 28.0% of gross income, which puts the qualifying income for that purchase at roughly $68,486. Texas's median household earns $76,292 (Census ACS 2023) — a gap of $7,806 below what the median household brings in. Put differently, the median household would spend 25.1% of gross income on principal and interest alone — inside the ratio most lenders underwrite to.
The value-to-income ratio in Texas is 3.9x. Between roughly 3.5x and 5x, prices are ahead of local earnings but still within reach for higher-earning households. Model your own numbers in the affordability calculator or the mortgage calculator.
Figures are illustrative, not a quote or a pre-approval. Rate: Freddie Mac via FRED, September 2026 · Value: Zillow, August 2026 · Income: U.S. Census ACS, 2023
Buying in Texas in the next 12 months?
Tell us your timeline. We send the Texas market brief: the price ranges that are actually clearing, the cities where your budget goes furthest, and what to fix on your credit before you apply.
Rent or buy in Texas?
Zillow publishes its rent index per city rather than per state, so the honest statewide read is the median across the 143 largest Texas cities that carry it: $1,591 a month. Set against a typical home value of $299,367, that is a price-to-rent ratio of 15.7x.
Between 15x and 20x the two options are close enough that the tiebreaker is how long you stay, not the ratio itself. Principal and interest on the typical home runs $7 more per month than that typical rent — and that is before taxes, insurance, and the roughly 1% of value a year most owners spend on maintenance.
For a second read on the same question, the Census ACS puts median gross rent across all Texas households — every unit type, not just what is currently listed — at $1,339 a month (2023), with 62.6% of Texas households owning rather than renting. Asking rents lead the ACS figure because they reflect today's new leases rather than the whole stock of existing ones.
Run the rent-vs-buy calculator with your own holding period and down payment — the statewide ratio is a starting point, not an answer.
Supply: what is on the market in Texas
| Measure | Latest | Year earlier | Change |
|---|---|---|---|
| Active listings | 134,656 | 150,961 | -10.8% |
| New listings | 44,123 | 50,281 | -12.2% |
| Homes sold | 29,445 | 32,137 | -8.4% |
| Months of supply | 4.6 | 4.7 | -0.1 |
| Sale-to-list ratio | 97.2% | 97.4% | Below asking |
What these mean. Active listings is the shelf — everything a buyer could tour today. New listings is restock rate; when it falls faster than sales, the shelf empties. Months of supply is active inventory divided by homes sold per month: at the current sales pace, how many months it would take to sell every home currently listed. Under 4 months of supply tilts toward sellers, 4 to 5 months is the neutral band, and above 5 months tilts toward buyers — above 7 months is a glut. These are the same thresholds the market verdict on every city and ZIP page is scored against. Sale-to-list ratio is the discipline check — above 100% means homes are clearing over asking on average, below means sellers are conceding.
Redfin, through May 2026 · No longer updating — Redfin stopped publishing public market trackers in June 2026; latest available period is May 2026. Zillow's inventory and new-listing counts are published per city and appear on the individual city pages.
Where Texas home values are moving fastest
12-month change in typical home value · Zillow, August 2026
Rising fastest
- 1.Abilene+8.9%
- 2.Marshall+7.4%
- 3.University Park+6.7%
- 4.Texarkana+5.2%
- 5.San Benito+4.7%
- 6.Odessa+4.1%
- 7.Big Spring+4.1%
- 8.Beaumont+3.6%
Falling
- 1.Princeton-10.9%
- 2.Celina-10.7%
- 3.Anna-8.2%
- 4.Hutto-7.8%
- 5.Kyle-7.7%
- 6.Wylie-7.5%
- 7.Allen-7.4%
- 8.McKinney-7.4%
Computed from Zillow's typical home value for each city at August 2026 against the same month a year earlier, across the 150 largest Texas cities by population. Small markets swing hardest because a handful of transactions moves the index — read the city page before treating a large move as a trend.
The most and least expensive cities in Texas
Typical home value across the 150 largest cities · Zillow, August 2026
Most expensive
- 1.University Park$2.47M
- 2.Southlake$1.32M
- 3.Colleyville$919,420
- 4.Prosper$757,804
- 5.Keller$653,856
- 6.Frisco$638,512
- 7.Coppell$611,818
- 8.Flower Mound$604,723
- 9.Murphy$564,016
- 10.Grapevine$553,270
Most affordable
- 1.Port Arthur$127,534
- 2.Kingsville$146,009
- 3.Big Spring$146,602
- 4.Pharr$165,451
- 5.Marshall$165,550
- 6.San Benito$166,372
- 7.Beaumont$174,699
- 8.Paris$175,106
- 9.Wichita Falls$176,929
- 10.Corsicana$179,721
The spread between University Park and Port Arthur is 19.4x — one reason a single statewide number is close to useless for a buyer with a fixed budget. Pick the city first, then the price band. Speed is a separate axis from price: Nacogdoches was the quickest of these markets to clear at 4 days on market (Redfin, through May 2026).
How Texas compares
| Market | Typical value | 12-mo change | Median income | Value / income |
|---|---|---|---|---|
| Texas | $299,367 | -1.6% | $76,292 | 3.9x |
| United States | $368,697 | +1.2% | — | — |
| Oklahoma | $223,261 | +2.8% | $63,603 | 3.5x |
| Louisiana | $217,039 | +2.1% | $60,023 | 3.6x |
| New Mexico | $318,241 | +1.7% | $62,125 | 5.1x |
The three states above are Texas's nearest land neighbours — the markets buyers most often price against when a move is still negotiable. Oklahoma and Louisiana carry lower typical home value than Texas, which is what makes them the usual destination for equity-funded moves out of Texas.
Values and 12-month changes: Zillow, August 2026 · Refreshes monthly. Income: U.S. Census ACS, 2023. ACS publishes household income per state, not for the nation on the same basis, so the U.S. row shows home value only.
Texas housing markets by city
1,233 cities tracked — the 60 largest by population shown
Houston
$261,740
San Antonio
$247,453
Dallas
$305,765
Austin
$497,418
Fort Worth
$295,800
El Paso
$238,475
Arlington
$309,891
Plano
$493,092
Lubbock
$212,039
Laredo
$222,782
Irving
$339,198
Garland
$283,276
Frisco
$638,512
McKinney
$472,118
Amarillo
$211,528
Grand Prairie
$314,397
Brownsville
$199,327
Killeen
$219,533
Pasadena
$218,883
Denton
$346,719
McAllen
$229,066
Waco
$197,932
Midland
$330,434
Carrollton
$400,642
Lewisville
$387,166
Abilene
$224,585
Pearland
$380,787
Round Rock
$398,221
College Station
$345,836
Richardson
$438,611
The Woodlands
Pop. 117K
League City
$373,552
Odessa
$251,624
Beaumont
$174,699
Sugar Land
$442,326
Tyler
$252,481
Allen
$485,393
Edinburg
$217,369
Wichita Falls
$176,929
San Angelo
$212,773
New Braunfels
$346,475
Conroe
$312,928
Atascocita
$307,522
Temple
$245,701
Mission
$219,583
Bryan
$273,941
Baytown
$245,229
Longview
$235,107
Pharr
$165,451
Georgetown
$420,930
Flower Mound
$604,723
Cedar Park
$461,620
Mansfield
$443,697
Missouri City
$333,316
Harlingen
$201,967
North Richland Hills
$367,768
San Marcos
$306,851
Leander
$421,703
Spring
$363,173
Victoria
$218,636
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What to do next in Texas
If you are buying
- Set the payment before the price. Start from what you can carry monthly, then work backwards with the affordability calculator — the typical Texas home is $1,598/mo in P&I today.
- Pick the city, not the state. Values across Texas run from $127,534 in Port Arthur to $2.47M in University Park.
- Put two finalists head to head in the city comparison tool before you tour anything.
- Fix the credit file before you shop the rate. A better score moves the payment more than haggling over price does at 7.03%.
If you are selling
- Price against your city, not the statewide figure — the spread between Texas markets is wider than the year-over-year move in any of them.
- Read the supply table above. At 4.6 months of supply, neither side has leverage, so presentation and pricing accuracy decide the outcome.
- Watch days on market in your city, not the state. The statewide median was 56 days (Redfin, through May 2026); your city page carries its own.
- Time the listing against new-listing volume. New listings are -12.2% year over year — less competition than a year ago.
Texas housing market questions
What is the typical home value in Texas?
The typical home value in Texas is $299,367 (Zillow, August 2026). That is a -1.6% change over the past 12 months. The median price of homes that actually sold was $356,100 (Redfin, through May 2026); sale prices skew toward whatever segment is transacting, which is why they differ from the typical-value figure.
Are Texas home prices going up or down?
Texas home values are down 1.6% year over year (Zillow, August 2026). Values sit 3.9% below their highest reading in the past two years.
How much income do you need to buy a home in Texas?
At the current 30-year fixed rate of 7.03%, a $299,367 home with 20.0% down carries roughly $1,598 a month in principal and interest. Using the 28% front-end ratio most lenders underwrite to, that implies a household income of about $68,486 before taxes, insurance, HOA dues, or mortgage insurance are added. Texas's median household income is $76,292 (Census ACS, 2023), a gap of $7,806 below the median household. These figures are illustrative, not a quote or a pre-approval.
Is it cheaper to rent or buy in Texas?
Typical asking rent across the largest Texas cities Zillow publishes rent data for is $1,591 a month (median of 143 cities, Zillow, August 2026). Against a typical home value of $299,367, that is a price-to-rent ratio of 15.7x. Ratios under about 15x generally favour buying if you plan to stay put; above about 20x, renting and investing the difference tends to win over short horizons. Principal and interest alone runs $7 more than that typical rent each month, before taxes, insurance, and maintenance.
Which Texas cities are the most affordable?
Among the largest cities we track in Texas, the lowest typical home values are in Port Arthur ($127,534), Kingsville ($146,009), Big Spring ($146,602), Pharr ($165,451), Marshall ($165,550). Values are Zillow's typical-home-value index for August 2026.
Which Texas cities are the most expensive?
The highest typical home values among the largest Texas cities are in University Park ($2.47M), Southlake ($1.32M), Colleyville ($919,420), Prosper ($757,804), Keller ($653,856). Price per square foot, inventory, and days on market for each are on the individual city pages.
Which Texas cities are appreciating the fastest?
Over the past 12 months the largest home-value gains among Texas cities we track were in Abilene (+8.9%), Marshall (+7.4%), University Park (+6.7%), Texarkana (+5.2%), San Benito (+4.7%). Fast appreciation usually reflects constrained supply, in-migration, or a small transaction base — check the individual city page before reading it as a trend.
How long do homes take to sell in Texas?
Homes in Texas spent a median of 56 days on market in the last month Redfin published (Redfin, through May 2026). That is 4 days slower than the same month a year earlier. The quickest market among the state's largest cities was Nacogdoches at 4 days. Redfin stopped publishing public market trackers in June 2026; latest available period is May 2026.
How does Texas compare to neighboring states?
Texas's typical home value of $299,367 compares with Oklahoma at $223,261, Louisiana at $217,039, New Mexico at $318,241. The U.S. typical home value is $368,697, putting Texas 18.8% below the national figure. Oklahoma and Louisiana are cheaper on a typical-value basis.
Is now a good time to buy in Texas?
That depends on your timeline, not the headline. The measurable inputs today: a 30-year fixed rate of 7.03%, 4.6 months of supply statewide (Redfin, through May 2026), active listings -10.8% year over year, and home values -1.6% over the past year. Buyers with a five-year-plus horizon are mostly exposed to the payment, not the price, so the rate you can qualify for matters more than the month you buy. Properties Incorporated is an independent data platform, not a brokerage or lender — this is information, not advice.
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City-vs-city in Texas
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How we built these numbers
Neighboring state markets
- Oklahoma housing market — $223,261 typical value
- Louisiana housing market — $217,039 typical value
- New Mexico housing market — $318,241 typical value
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