Polk County, TX housing market

What this means

• Valuation. Prices are roughly in line with local incomes (−2% vs. this area's pre-2020 price-to-income norm).
• Prices. Home values are down 3.9% over the past year (U.S.: +1.2%), 9% below their 2022-23 peak.
• Supply. There are 19% more homes for sale than the 2017-19 norm, so buyers have more to choose from than before the pandemic.
• Negotiating. Buyer leverage is high (99/100; U.S.: 54): homes sell for about 5.3% below their final list price; 22% of listings had a price cut (U.S.: 26%).
• Affordability. A mortgage on the typical home takes 24% of the median household income (U.S.: 35%); it takes about $50k a year to keep the payment at 30% of gross pay. That includes about $2,270 a year for home insurance (U.S.: $1,790).
• Buy vs. rent. Buying costs about $261/mo less than renting a typical home (mortgage payment vs. typical rent).
• Disaster risk. FEMA expects about $169 a year in natural-disaster damage per $100k of building value (U.S.: $155), mostly from flooding.
• Outlook. No clear direction: likely −10% to +7% over the next 12 months (47% chance of a rise).

Next 12 months

No clear direction

A fall is somewhat more likely than a rise, but not by enough to call. Likely change: −9.8% to +6.6% (80% range; middle estimate −0.3%), chance of a rise 47%, of a 5%+ drop 23%.

HouseVane's model, refit every month on local market signals and national ones, trained only on data known at the time. How accurate it has been.

ZIP codes in Polk County, TX