Many Texas housing markets are on fire right now, with home prices skyrocketing with double digit median home price growth. In fact, some of these metro areas are seeing equity gains upwards of $50,000 in just one year! I analyzed the home prices in major Texas metro areas, comparing median home prices from April 2022 to March 2023 with those from April 2023 to March 2024. Below, I compiled a list of Texas metro areas where home prices rose over 10% over the course of a year.
Biggest Winners in the Texas Housing Market Right Now
Homeowners in several Texas metro areas are experiencing a surge in median home prices. Vernon, Pecos, and Zapata have seen an impressive over 20% increase in home prices.
The Vernon metro area leads the pack with an impressive 46.3% increase in median home prices. That means if a homeowner bought a house in Vernon in the first quarter of 2023 and sold it in 2024, they would have made a net gain of $58,831 in just 1 year!
Similarly, Pecos metro area homeowners property values appreciated by 20.74% in a year. This translates to a whopping $55,093 in equity gain!
1. Vernon, TX metro area
- Median Home Price (April 2022 to March 2023): $68,228
- Median Home Price (April 2023 to March 2024): $127,058
- Percentage Change: 46.30%
- Equity Gain: $58,831
The biggest winners in the Texas housing market are the homeowners in the Vernon metro area. Over the course of a year, the median home price soared by 46.3%, from $68,228 to $127,058. This surge translates to a remarkable equity gain of $58,831 for lucky homeowners in Vernon.
2. Pecos, TX metro area
- Median Home Price (April 2022 to March 2023): $210,528
- Median Home Price (April 2023 to March 2024): $265,621
- Percentage Change: 20.74%
- Equity Gain: $55,093
The Pecos metro area came in second. In just one year, the median home price rose from $210,528 to $265,621, a 20.74% increase. This surge in home prices resulted in an eye-popping equity gain of $55,093 for homeowners!
3. Zapata, TX metro area
- Median Home Price (April 2022 to March 2023): $146,930
- Median Home Price (April 2023 to March 2024): $183,714
- Percentage Change: 20.02%
- Equity Gain: $36,784
The Zapata metro area came in next, where home prices climbed 20.02% in a year. The median home price went from $146,930 to $183,714. Homeowners in Zapata experienced an impressive equity gain of $36,784 over the course of the year.
4. Borger, TX metro area
- Median Home Price (April 2022 to March 2023): $127,371
- Median Home Price (April 2023 to March 2024): $158,460
- Percentage Change: 19.62%
- Equity Gain: $31,090
The Borger metro area came in fourth, with the median home price climbing from $127,371 to $158,460, an impressive 19.62% increase. Homeowners in Borger saw an equity gain of $31,090 in one year.
5. Stephenville, TX metro area
- Median Home Price (April 2022 to March 2023): $272,496
- Median Home Price (April 2023 to March 2024): $323,618
- Percentage Change: 15.80%
- Equity Gain: $51,122
Stephenville took 5th place on this list, and home prices skyrocketed from $272,496 to $323,618, an increase of 15.80%. These lucky homeowners saw their equity grow by $51,122 in just one year.
6. Big Spring, TX metro area
- Median Home Price (April 2022 to March 2023): $146,992
- Median Home Price (April 2023 to March 2024): $171,919
- Percentage Change: 14.50%
- Equity Gain: $24,927
The Big Spring metro area came in next, where the median home price rose from $146,992 to $171,919, reflecting a 14.5% increase. Homeowners experienced an equity gain of $24,927 in one year.
7. Mineral Wells, TX metro area
- Median Home Price (April 2022 to March 2023): $275,415
- Median Home Price (April 2023 to March 2024): $316,392
- Percentage Change: 12.95%
- Equity Gain: $40,977
In the Mineral Wells metro area, the median home price grew from $275,415 to $316,392 in March 2024, which is a substantial 12.95% increase. Homeowners experienced an equity gain of $40,977 in one year.
8. Port Lavaca, TX metro area
- Median Home Price (April 2022 to March 2023): $203,729
- Median Home Price (April 2023 to March 2024): $232,004
- Percentage Change: 12.19%
- Equity Gain: $28,275
The Port Lavaca metro area witnessed a rise in median home prices from $203,729 to $232,004, which is a 12.19% increase. In just one year, homeowners had an equity gain of $28,275.
9. Eagle Pass, TX metro area
- Median Home Price (April 2022 to March 2023): $216,104
- Median Home Price (April 2023 to March 2024): $245,990
- Percentage Change: 12.15%
- Equity Gain: $29,885
In the Eagle Pass metro area, the median home price climbed from $216,104 to $245,990, which is a solid 12.15% increase. Homeowners had an impressive equity gain of $29,885 over the course of the year.
10. Sweetwater, TX metro area
- Median Home Price (April 2022 to March 2023): $141,175
- Median Home Price (April 2023 to March 2024): $160,050
- Percentage Change: 11.79%
- Equity Gain: $18,875
The Sweetwater metro area homeowners experienced a rise in median home prices from $141,175 to $160,050, an 11.79% increase. Homeowners saw their equity grow by $18,875 in the course of one year.
11. Pampa, TX metro area
- Median Home Price (April 2022 to March 2023): $111,746
- Median Home Price (April 2023 to March 2024): $125,792
- Percentage Change: 11.17%
- Equity Gain: $14,046
Within the Pampa metro area, the median home price rose from $111,746 to $125,792, a 11.17% increase. Pampa homeowners experienced an equity gain of $14,046 in just one year.
12. Lamesa, TX metro area
- Median Home Price (April 2022 to March 2023): $155,064
- Median Home Price (April 2023 to March 2024): $173,514
- Percentage Change: 10.63%
- Equity Gain: $18,449
The Lamesa metro area homeowners saw their median home price climb from $155,064 to $173,514, a solid 10.63% increase. During this one year period, Lamesa homeowners had an equity gain of $18,449.
13. Andrews, TX metro area
- Median Home Price (April 2022 to March 2023): $239,392
- Median Home Price (April 2023 to March 2024): $266,667
- Percentage Change: 10.23%
- Equity Gain: $27,275
In the Andrews metro area, the median home price increased from $239,392 to $266,667, a 10.23% rise. Homeowners in Andrews saw their equity increase by $27,275 over a year.
14. Gainesville, TX metro area
- Median Home Price (April 2022 to March 2023): $284,500
- Median Home Price (April 2023 to March 2024): $316,221
- Percentage Change: 10.03%
- Equity Gain: $31,721
The Gainesville metro area homeowners experienced a median home price increase from $284,500 to $316,221, a 10.03% rise. Homeowners in Gainesville saw their equity grow by $31,721 in just 1 year.
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