The recently released 2018 Texas Homebuyers and Sellers Report shows the median household income of Texas buyers rose to $101,400—a year-over-year increase of more than 7%—while the median home price was $259,000. The Real Estate Center at Texas A&M University estimates the price for entry-level and first-time homebuyers is $150,000.
Texas homebuyers who identified as African American (8%) and Asian (7%) increased compared to the previous period. Buyers who identified as Hispanic remained constant at 14%.
The ratio of single female homebuyers in Texas fell 3 percentage points to 16% and single male buyers fell 1 percentage point to 8%. Sixty-eight percent of Texas homebuyers were married, an increase of 2 percentage points.
“We have seen greater ethnic diversity among homebuyers over the last few years, which is an encouraging trend,” said Kaki Lybbert, chairman of the Texas REALTORS® “At the same time, median household income in the state went up. That’s good news for Texans because our home prices have continued to rise in most areas as well.”