Current home values in Texas
Home values have been rising throughout Texas and are up 6.3% from a year ago.
Statewide, the median value for a single-family home — meaning half are worth more, half are worth less — is currently $412,930, Realtor says.
Real estate agents say would-be homebuyers in some parts of the country are starting to overcome the obstacles caused by COVID-19 and are going virtual house hunting to take advantage of today's bargain mortgage rates and the low monthly house payments they provide.
Here's how that works in Texas: Let's say you want to buy a mid-priced home using a 30-year fixed-rate mortgage at the current average interest, which is a low 3.33%, according to mortgage company Freddie Mac.
A 30-year mortgage for a $412,930 home at 3.33% would give a typical Texas homebuyer a monthly payment of $1,452, assuming a 20% down payment.
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Learn MoreHow the Texas housing market stacks up
Texan couples can enjoy an evening out while exploring downtown
The state's median home value is higher than the U.S. median of $248,948, which is up 5.1% from a year ago.
While the coronavirus is expected to continue hanging over the U.S. economy like a dark cloud, Zillow forecasts that U.S. home values will rise 5.1% over the next year, while in Texas, they're predicted to rise 4.8%.
Homes right now are going on the market in Texas at a median price of $134 per square foot, versus $134 per square foot nationwide.
Are you looking to buy? Take a look at today's best mortgage rates where you live.
Texas home prices over the last 10 years
| Year | Avg. Price |
|---|---|
| 2020* | $210,651 |
| 2019 | $198,238 |
| 2018 | $187,958 |
| 2017 | $175,508 |
| 2016 | $160,383 |
| 2015 | $147,233 |
| 2014 | $138,033 |
| 2013 | $131,275 |
| 2012 | $127,575 |
| 2011 | $128,108 |
| 2010 | $130,942 |
| 2009 | $132,008 |
*2020 price average through March 31, 2020.
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Get StartedHow much for an average-sized home?
Here's what a 2,500-square-foot home in Texas is worth now, and how that's changed over the last decade, based on the Zillow Home Value Index.
| Year | Avg. Price |
|---|---|
| 2020* | $334,473 |
| 2019 | $275,000 |
| 2018 | $262,500 |
| 2017 | $247,500 |
| 2016 | $225,000 |
| 2015 | $210,000 |
| 2014 | $195,000 |
| 2013 | $185,000 |
| 2012 | $177,500 |
| 2011 | $177,500 |
| 2010 | $182,500 |
| 2009 | $182,500 |
*2020 price average through March 31, 2020.
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