AUSTIN (KXAN) — Home values in Texas fell in 2023 for the first time in more than a decade, according to data from Zillow.
The value of a typical home in the state dropped by about $2,912 between Dec. 31, 2022 and Nov. 30, 2023, a decrease of 0.97%. Nationwide, the typical home increased in value by 2.5% during the same time frame.
As of Nov. 30, a typical home in Texas is worth $296,127.27, down from $299,039.22 at the start of the year.
Home values in Texas haven’t dropped since 2011, when they fell by 2.5% statewide. This year’s drop comes after two years of double-digit percentage increases in home values. A typical home increased in value by 17.8% in 2021, and a further 11.8% in 2022.
Zillow’s “Home Value Index” (ZHVI) is a seasonally adjusted measure of the typical home value in any given area. According to Zillow, the index reflects the typical value for homes in the 35th to 65th percentile range.
The map below shows the typical home value in counties across Texas as of Nov. 30.
Kendall County, northwest of San Antonio, has the highest home prices. A typical home there is worth about $570,000 as of the end of November. Blanco County, west of Austin, is second, with a typical home value of just over $564,000.
The typical home is worth more than half a million dollars in three other counties: Gillespie, Collin and Travis.
Zillow has data for 243 of Texas’ 254 counties. Hardeman County, northwest of Wichita Falls, has the cheapest homes in the state, with a typical value of about $52,000. Values are below $100,000 in an additional 39 counties.
Where are home values changing the most?
While home values across Texas decreased by 1% this year, there was considerable variation across the state.
Home values increased by more than 6% in Hidalgo and Maverick counties, along the border, and in Gray County in the Panhandle. Values increased in 56 counties in total, while 187 saw a decrease.
Two counties saw home values drop by more than a quarter: Reeves County, east of El Paso, and Motley County, northeast of Lubbock. Another 34 counties saw a decrease in home values of more than 10%.
When looking at the past five years though, the majority of counties have seen large increases in home values. Compared to November 2018, values in Blanco, Burnet, Dallam and Cherokee counties are now more than 70% higher.
In Blanco County, the typical home value increased by 76.7%, from about $319,000 to more than $564,000.
Only 13 counties have seen a decrease in home values over the past five years. Ochiltree County, in the northern Panhandle, saw the biggest drop, from about $130,000 in 2017 to $113,000 now, a decrease of 13.2%.
Typical home values in Texas metro areas
There is significant variation in home prices across the state. The charts below show home values in counties in many of the state’s largest metro areas. The charts are interactive, so you can hover over or click to see home prices.
Collin County
Typical home value, November 2023: $508,935.50
One-year price increase: +1.7%
Five-year price increase: +55.6%
Price increase since Jan. 2000: +175.3%
Dallas County
Typical home value, November 2023: $309,692.17
One-year price decrease: -0.1%
Five-year price increase: +51.8%
Price increase since Jan. 2000: +231.2%
Denton County
Typical home value, November 2023: $452,060.35
One-year price decrease: -0.4%
Five-year price increase: +50.1%
Price increase since Jan. 2000: +179.6%
Rockwall County
Typical home value, November 2023: $415,662.93
One-year price decrease: -2.1%
Five-year price increase: +48.9%
Price increase since Jan. 2000: Data not available
Tarrant County
Typical home value, November 2023: $322,697.73
One-year price decrease: -1.9%
Five-year price increase: +52.2%
Price increase since Jan. 2000: +189.9%
Brazoria County
Typical home value, November 2023: $313,173.14
One-year price increase: +0.01%
Five-year price increase: +36.0%
Price increase since Jan. 2000: +151.9%
Fort Bend County
Typical home value, November 2023: $375,374.12
One-year price increase: +0.6%
Five-year price increase: +44.2%
Price increase since Jan. 2000: +139.4%
Galveston County
Typical home value, November 2023: $314,880.89
One-year price decrease: -0.9%
Five-year price increase: +43.0%
Price increase since Jan. 2000: Data not available
Harris County
Typical home value, November 2023: $277,484.00
One-year price decrease: -0.9%
Five-year price increase: +43.5%
Price increase since Jan. 2000: +156.4%
Montgomery County
Typical home value, November 2023: $346,050.68
One-year price decrease: -0.8%
Five-year price increase: +42.0%
Price increase since Jan. 2000: +138.4%
Bexar County
Typical home value, November 2023: $262,695.90
One-year price decrease: -2.2%
Five-year price increase: +43.3%
Price increase since Jan. 2000: +161.6%
Comal County
Typical home value, November 2023: $445,713.40
One-year price decrease: -3.3%
Five-year price increase: +51.0%
Price increase since Jan. 2000: Data not available
Guadalupe County
Typical home value, November 2023: $318,228.70
One-year price decrease: -3.7%
Five-year price increase: +37.4%
Price increase since Jan. 2000: Data not available
Kendall County
Typical home value, November 2023: $570,001.84
One-year price increase: +0.3%
Five-year price increase: +50.3%
Price increase since Jan. 2000: Data not available
Medina County
Typical home value, November 2023: $295,559.56
One-year price decrease: -3.7%
Five-year price increase: +36.0%
Price increase since Jan. 2000: Data not available
Bastrop County
Typical home value, November 2023: $359,157.05
One-year price decrease: -8.1%
Five-year price increase: +53.5%
Price increase since Jan. 2000: +198.4%
Caldwell County
Typical home value, November 2023: $302,273.87
One-year price decrease: -5.6%
Five-year price increase: +62.6%
Price increase since Jan. 2000: Data not available
Hays County
Typical home value, November 2023: $404,848.45
One-year price decrease: -6.7%
Five-year price increase: +51.7%
Price increase since Jan. 2000: Data not available
Travis County
Typical home value, November 2023: $505,871.17
One-year price decrease: -7.7%
Five-year price increase: +50.7%
Price increase since Jan. 2000: +181.2%
Williamson County
Typical home value, November 2023: $426,214.61
One-year price decrease: -7.6%
Five-year price increase since Nov. 2017: +53.8%
Price increase since Jan. 2000: Data not available
Cameron County
Typical home value, November 2023: $174,016.27
One-year price increase: +5.3%
Five-year price increase: +54.1%
Price increase since Jan. 2000: Data not available
Hidalgo County
Typical home value, November 2023: $180,135.10
One-year price increase: +6.2%
Five-year price increase: +66.7%
Price increase since Jan. 2000: Data not available
Starr County
Typical home value, November 2023: $105,954.14
One-year price decrease: -6.3%
Five-year price increase: +19.6%
Price increase since Jan. 2000: Data not available
Willacy County
Typical home value, November 2023: $98,335.17
One-year price decrease: -8.3%
Five-year price increase: +6.0%
Price increase since Jan. 2000: Data not available
Doña Ana County (New Mexico)
Typical home value, November 2023: $276,875.14
One-year price increase: +7.5%
Five-year price increase: +57.2%
Price increase since Jan. 2000: Data not available
El Paso County
Typical home value, November 2023: $208,925.13
One-year price increase: +5.7%
Five-year price increase: +55.6%
Price increase since Jan. 2000: +120.1%
Crosby County
Typical home value, November 2023: $68,558.77
One-year price decrease: -7.9%
Five-year price decrease: -11.5%
Price increase since Jan. 2000: Data not available
Hale County
Typical home value, November 2023: $110,151.54
One-year price decrease: -4.8%
Five-year price increase: +25.9%
Price increase since Jan. 2000: Data not available
Hockley County
Typical home value, November 2023: $145,096.88
One-year price decrease: -0.04%
Five-year price increase: +20.4%
Price increase since Jan. 2000: Data not available
Lubbock County
Typical home value, November 2023: $204,974.83
One-year price increase: +0.2%
Five-year price increase: +30.2%
Price increase since Jan. 2000: +154.2%
Lynn County
Typical home value, November 2023: $142,449.81
One-year price decrease: -6.4%
Five-year price increase: +4.2%
Price increase since Jan. 2000: Data not available
Armstrong County
Typical home value, November 2023: $178,734.28
One-year price increase: +0.7%
Five-year price increase: +37.0%
Price increase since Jan. 2000: Data not available
Carson County
Typical home value, November 2023: $131,471.09
One-year price decrease: -3.4%
Five-year price increase: +22.4%
Price increase since Jan. 2000: Data not available
Potter County
Typical home value, November 2023: $133,035.60
One-year price increase: +2.3%
Five-year price increase: +50.9%
Price increase since Jan. 2000: Data not available
Randall County
Typical home value, November 2023: $243,049.40
One-year price increase: +2.0%
Five-year price increase: +41.9%
Price increase since Jan. 2000: Data not available
Bell County
Typical home value, November 2023: $252,798.53
One-year price decrease: -3.0%
Five-year price increase: +59.2%
Price increase since Jan. 2000: Data not available
Coryell County
Typical home value, November 2023: $218,996.52
One-year price decrease: -2.0%
Five-year price increase: +66.1%
Price increase since Jan. 2000: Data not available
Falls County
Typical home value, November 2023: $120,300.88
One-year price decrease: -7.8%
Five-year price increase: +21.8%
Price increase since Jan. 2000: Data not available
Lampasas County
Typical home value, November 2023: $290,055.64
One-year price decrease: -3.0%
Five-year price increase: +57.8%
Price increase since Jan. 2000: Data not available
McLennan County
Typical home value, November 2023: $253,183.78
One-year price decrease: -0.2%
Five-year price increase since Nov. 2017: +62.9%
Price increase since Jan. 2000: Data not available
Gregg County
Typical home value, November 2023: $209,845.91
One-year price increase: +3.2%
Five-year price increase: +33.7%
Price increase since Jan. 2000: +150.6%
Rusk County
Typical home value, November 2023: $190,758.41
One-year price increase: +1.4%
Five-year price increase: +40.7%
Price increase since Jan. 2000: Data not available
Smith County
Typical home value, November 2023: $263,877.96
One-year price increase: +5.0%
Five-year price increase: +55.6%
Price increase since Jan. 2000: Data not available
Upshur County
Typical home value, November 2023: $229,972.25
One-year price increase: +0.6%
Five-year price increase: +48.9%
Price increase since Jan. 2000: Data not available
Wood County
Typical home value, November 2023: $267,073.28
One-year price increase: +1.0%
Five-year price increase since Nov. 2017: +61.0%
Price increase since Jan. 2000: Data not available
Callahan County
Typical home value, November 2023: $159,752.35
One-year price decrease: -4.3%
Five-year price increase: +18.9%
Price increase since Jan. 2000: Data not available
Jones County
Typical home value, November 2023: $123,069.62
One-year price increase: +1.7%
Five-year price increase: +22.6%
Price increase since Jan. 2000: Data not available
Taylor County
Typical home value, November 2023: $192,112.52
One-year price increase: +2.5%
Five-year price increase: +38.0%
Price increase since Jan. 2000: Data not available
Archer County
Typical home value, November 2023: $202,888.97
One-year price decrease: -2.1%
Five-year price increase: +38.4%
Price increase since Jan. 2000: Data not available
Clay County
Typical home value, November 2023: $172,546.75
One-year price decrease: -2.3%
Five-year price increase: +37.0%
Price increase since Jan. 2000: Data not available
Wichita County
Typical home value, November 2023: $153,840.13
One-year price increase: +2.3%
Five-year price increase: +60.5%
Price increase since Jan. 2000: Data not available
Ector County
Typical home value, November 2023: $210,062.91
One-year price increase: +2.1%
Five-year price increase: +20.2%
Price increase since Jan. 2000: Data not available
Martin County
Typical home value, November 2023: $205,482.23
One-year price decrease: -3.0%
Five-year price increase: Data not available
Price increase since Jan. 2000: Data not available
Midland County
Typical home value, November 2023: $290,360.57
One-year price increase: +3.5%
Five-year price increase: +15.1%
Price increase since Jan. 2000: Data not available
[#item_full_content]