Home prices have surged in the U.S. in recent years. Driven by rising demand and supply constraints during the pandemic, the median home sale price spiked by nearly 50% from the second quarter of 2020 to Q3 in 2022. While the sale price of a typical American home has fallen in recent months since, housing prices remain at historic highs.
Not only have home values soared, but borrowing costs for home buyers have also climbed. The average interest rate on a 30-year fixed mortgage has been above 6% since September 2022, a high not seen in nearly a decade and a half. In a market defined by high prices and high mortgage rates, homeownership has become prohibitively expensive for a large number of Americans.
Still, housing prices are also subject to a number of factors that can be isolated from broader, nationwide market trends — and location is one of them. Two homes that are virtually identical can vary in price by hundreds of thousands of dollars, depending on where they are. And for prospective homeowners on a budget, some Texas cities are far more affordable than others.
According to five-year estimates from the U.S. Census Bureau’s 2022 American Community Survey, the typical home in Texas is worth $238,000. But across the 53 cities, towns, and unincorporated communities in the state with populations of at least 75,000, median home values range from less than $100,000 to over $500,000.
In any local market, home prices are often a reflection of what residents can afford. In Texas, many of the least expensive cities for homebuyers are not high-income areas. Of the 53 Texas cities with available data from the ACS, 27 have a median home value that is less than the statewide median. In each of these places, the typical household earns less than the statewide median household income of $73,035. Similarly, most of Texas’s more expensive housing markets have higher earning populations.
These are the cheapest and most expensive housing markets in Texas.
53. Pharr
Source: DavieJones13 / iStock via Getty Images
- Median home value: $98,300
- Homes worth over $1 million: 0.1%
- Homeownership rate: 58.7%
- Median household income: $45,016
- Total population: 79,434
52. Brownsville
Source: DenisTangneyJr / iStock via Getty Images
- Median home value: $112,600
- Homes worth over $1 million: 0.1%
- Homeownership rate: 60.3%
- Median household income: $46,735
- Total population: 186,999
51. Wichita Falls
Source: DenisTangneyJr / iStock Unreleased via Getty Images
- Median home value: $128,800
- Homes worth over $1 million: 0.5%
- Homeownership rate: 56.3%
- Median household income: $55,584
- Total population: 102,482
50. Mission
Source: Theunderratedtaco / Wikimedia Commons
- Median home value: $147,600
- Homes worth over $1 million: 0.3%
- Homeownership rate: 72.0%
- Median household income: $56,421
- Total population: 85,755
49. Beaumont
Source: DenisTangneyJr / iStock via Getty Images
- Median home value: $150,400
- Homes worth over $1 million: 0.6%
- Homeownership rate: 54.4%
- Median household income: $53,745
- Total population: 114,573
48. McAllen
Source: tirc83 / iStock Unreleased via Getty Images
- Median home value: $158,700
- Homes worth over $1 million: 0.6%
- Homeownership rate: 59.4%
- Median household income: $56,326
- Total population: 142,722
47. El Paso
Source: Sean Pavone / iStock via Getty Images
- Median home value: $159,300
- Homes worth over $1 million: 0.5%
- Homeownership rate: 59.5%
- Median household income: $55,710
- Total population: 677,181
46. Edinburg
Source: BOB WESTON / iStock via Getty Images
- Median home value: $159,600
- Homes worth over $1 million: 0.5%
- Homeownership rate: 53.6%
- Median household income: $54,139
- Total population: 100,964
45. Abilene
Source: BOB WESTON / iStock via Getty Images
- Median home value: $161,800
- Homes worth over $1 million: 0.5%
- Homeownership rate: 54.0%
- Median household income: $59,254
- Total population: 126,356
44. Baytown
Source: twokaren2 / Getty Images
- Median home value: $162,200
- Homes worth over $1 million: 0.7%
- Homeownership rate: 53.6%
- Median household income: $61,158
- Total population: 84,449
43. Laredo
Source: DenisTangneyJr / iStock Unreleased via Getty Images
- Median home value: $164,400
- Homes worth over $1 million: 0.4%
- Homeownership rate: 62.7%
- Median household income: $60,928
- Total population: 255,293
42. Longview
Source: pasa / Flickr
- Median home value: $170,000
- Homes worth over $1 million: 0.5%
- Homeownership rate: 53.4%
- Median household income: $61,003
- Total population: 82,176
41. Pasadena
Source: Citysqwirl / iStock via Getty Images
- Median home value: $171,600
- Homes worth over $1 million: 0.4%
- Homeownership rate: 53.8%
- Median household income: $64,698
- Total population: 150,620
40. San Angelo
Source: DenisTangneyJr / iStock Unreleased via Getty Images
- Median home value: $171,700
- Homes worth over $1 million: 1.1%
- Homeownership rate: 64.0%
- Median household income: $65,040
- Total population: 99,422
39. Amarillo
Source: DenisTangneyJr / iStock via Getty Images
- Median home value: $172,700
- Homes worth over $1 million: 0.9%
- Homeownership rate: 59.6%
- Median household income: $60,628
- Total population: 200,360
38. Waco
Source: ChrisBoswell / iStock via Getty Images
- Median home value: $174,100
- Homes worth over $1 million: 0.7%
- Homeownership rate: 47.3%
- Median household income: $47,421
- Total population: 140,545
37. Killeen
Source: Summerdeleon / Wikimedia Commons
- Median home value: $175,400
- Homes worth over $1 million: 0.2%
- Homeownership rate: 46.3%
- Median household income: $57,086
- Total population: 153,708
36. Corpus Christi
Source: Public Domain / Wikimedia Commons
- Median home value: $180,900
- Homes worth over $1 million: 0.9%
- Homeownership rate: 57.3%
- Median household income: $64,449
- Total population: 317,804
35. Lubbock
Source: DenisTangneyJr / E+ via Getty Images
- Median home value: $181,600
- Homes worth over $1 million: 1.0%
- Homeownership rate: 51.0%
- Median household income: $58,734
- Total population: 258,190
34. Temple
- Median home value: $191,300
- Homes worth over $1 million: 0.5%
- Homeownership rate: 52.8%
- Median household income: $61,003
- Total population: 83,473
33. Odessa
Source: DenisTangneyJr / iStock via Getty Images
- Median home value: $193,500
- Homes worth over $1 million: 0.7%
- Homeownership rate: 59.1%
- Median household income: $71,293
- Total population: 113,353
32. San Antonio
Source: Kruck20 / iStock via Getty Images
- Median home value: $198,000
- Homes worth over $1 million: 0.8%
- Homeownership rate: 51.9%
- Median household income: $59,593
- Total population: 1,445,662
31. Bryan
- Median home value: $198,300
- Homes worth over $1 million: 1.1%
- Homeownership rate: 49.3%
- Median household income: $55,234
- Total population: 84,820
30. Tyler
Source: jodi4art / iStock Editorial via Getty Images
- Median home value: $205,200
- Homes worth over $1 million: 2.3%
- Homeownership rate: 54.9%
- Median household income: $63,056
- Total population: 106,440
29. Mesquite
- Median home value: $208,800
- Homes worth over $1 million: 0.2%
- Homeownership rate: 62.0%
- Median household income: $69,649
- Total population: 149,439
28. Garland
Source: SevenMaps / Shutterstock.com
- Median home value: $229,000
- Homes worth over $1 million: 0.4%
- Homeownership rate: 62.0%
- Median household income: $71,044
- Total population: 244,026
27. Houston
Source: prayitnophotography / Flickr
- Median home value: $235,000
- Homes worth over $1 million: 5.2%
- Homeownership rate: 42.0%
- Median household income: $60,440
- Total population: 2,296,253
26. Grand Prairie
Source: mj0007 / iStock Editorial via Getty Images
- Median home value: $242,900
- Homes worth over $1 million: 0.6%
- Homeownership rate: 59.2%
- Median household income: $76,626
- Total population: 197,279
25. Fort Worth
Source: davidwilson1949 / Flickr
- Median home value: $250,300
- Homes worth over $1 million: 1.6%
- Homeownership rate: 56.7%
- Median household income: $72,726
- Total population: 924,663
24. Arlington
Source: Art Wager / iStock Unreleased via Getty Images
- Median home value: $251,300
- Homes worth over $1 million: 0.7%
- Homeownership rate: 54.9%
- Median household income: $71,736
- Total population: 393,469
23. Atascocita
Source: Stockbyte / Stockbyte via Getty Images
- Median home value: $257,500
- Homes worth over $1 million: 0.9%
- Homeownership rate: 82.2%
- Median household income: $115,687
- Total population: 89,121
22. Irving
Source: Davel5957 / iStock via Getty Images
- Median home value: $259,500
- Homes worth over $1 million: 1.2%
- Homeownership rate: 37.2%
- Median household income: $76,686
- Total population: 254,962
21. Conroe
Source: Roberto Galan / iStock Editorial via Getty Images
- Median home value: $262,500
- Homes worth over $1 million: 1.3%
- Homeownership rate: 56.1%
- Median household income: $71,630
- Total population: 92,475
20. Dallas
Source: Ron and Patty Thomas / iStock via Getty Images
- Median home value: $270,700
- Homes worth over $1 million: 7.1%
- Homeownership rate: 41.9%
- Median household income: $63,985
- Total population: 1,300,642
19. Midland
Source: 2016 Getty Images / Getty Images News via Getty Images
- Median home value: $280,700
- Homes worth over $1 million: 2.5%
- Homeownership rate: 63.9%
- Median household income: $90,448
- Total population: 132,490
18. New Braunfels
Source: dhughes9 / iStock via Getty Images
- Median home value: $290,800
- Homes worth over $1 million: 1.1%
- Homeownership rate: 63.8%
- Median household income: $85,827
- Total population: 92,993
17. Denton
Source: Marti157900 / iStock via Getty Images
- Median home value: $296,100
- Homes worth over $1 million: 0.9%
- Homeownership rate: 49.4%
- Median household income: $71,921
- Total population: 142,262
16. College Station
Source: Aggie0083 at English Wikipedia / Wikimedia Commons
- Median home value: $305,800
- Homes worth over $1 million: 1.3%
- Homeownership rate: 36.3%
- Median household income: $52,397
- Total population: 120,451
15. Pearland
Source: JHVEPhoto / iStock Editorial via Getty Images
- Median home value: $311,100
- Homes worth over $1 million: 0.8%
- Homeownership rate: 76.6%
- Median household income: $111,123
- Total population: 124,478
14. League City
Source: SondraP / iStock via Getty Images
- Median home value: $312,500
- Homes worth over $1 million: 1.2%
- Homeownership rate: 73.5%
- Median household income: $117,316
- Total population: 113,469
13. Carrollton
Source: Michael Barera / Wikimedia Commons
- Median home value: $327,300
- Homes worth over $1 million: 1.0%
- Homeownership rate: 58.3%
- Median household income: $95,380
- Total population: 132,284
12. Lewisville
Source: TrongNguyen / iStock Editorial via Getty Images
- Median home value: $328,300
- Homes worth over $1 million: 1.1%
- Homeownership rate: 45.2%
- Median household income: $82,006
- Total population: 125,028
11. Round Rock
Source: RoschetzkyIstockPhoto / iStock via Getty Images
- Median home value: $337,500
- Homes worth over $1 million: 1.0%
- Homeownership rate: 55.6%
- Median household income: $91,888
- Total population: 120,465
10. Richardson
Source: earleliason / Getty Images
- Median home value: $379,800
- Homes worth over $1 million: 1.6%
- Homeownership rate: 51.6%
- Median household income: $94,362
- Total population: 118,063
9. Sugar Land
Source: AlizadaStudios / iStock Editorial via Getty Images
- Median home value: $387,900
- Homes worth over $1 million: 2.8%
- Homeownership rate: 81.2%
- Median household income: $132,247
- Total population: 110,077
8. Allen
Source: DronePhotographer, CC0, via Wikimedia Commons
- Median home value: $390,200
- Homes worth over $1 million: 1.6%
- Homeownership rate: 70.9%
- Median household income: $121,259
- Total population: 105,444
7. McKinney
Source: Rick Ray / Wikimedia Commons
- Median home value: $400,400
- Homes worth over $1 million: 1.5%
- Homeownership rate: 64.9%
- Median household income: $113,286
- Total population: 196,160
6. Plano
Source: aimintang / iStock Unreleased via Getty Images
- Median home value: $412,500
- Homes worth over $1 million: 3.7%
- Homeownership rate: 56.7%
- Median household income: $105,679
- Total population: 284,948
5. Cedar Park
Source: RoschetzkyIstockPhoto / iStock via Getty Images
- Median home value: $427,800
- Homes worth over $1 million: 3.0%
- Homeownership rate: 66.7%
- Median household income: $118,903
- Total population: 76,344
4. The Woodlands
Source: thierry dehove / Shutterstock.com
- Median home value: $456,400
- Homes worth over $1 million: 8.9%
- Homeownership rate: 72.6%
- Median household income: $142,384
- Total population: 118,402
3. Austin
Source: joncutrer / Flickr
- Median home value: $461,500
- Homes worth over $1 million: 9.4%
- Homeownership rate: 44.4%
- Median household income: $86,556
- Total population: 958,202
2. Flower Mound
Source: Michael Vi / iStock via Getty Images
- Median home value: $467,600
- Homes worth over $1 million: 5.6%
- Homeownership rate: 82.9%
- Median household income: $154,471
- Total population: 76,630
1. Frisco
Source: Fang Zheng / iStock Editorial via Getty Images
- Median home value: $531,400
- Homes worth over $1 million: 6.7%
- Homeownership rate: 67.2%
- Median household income: $144,567
- Total population: 202,075
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