Texas Sees Sharp Decline In Homes Valued Below $200,000

AUSTIN, Texas (TXAN 24) — Texas has experienced a significant shift in its supply of lower-priced owner-occupied homes, with the share valued below $200,000 falling nearly 24 percentage points between 2019 and 2024.

According to an analysis by Underwood Lawfirm of U.S. Census Bureau American Community Survey data, Texas ranked 15th among states for the largest percentage-point decline in homes below that threshold.

In 2019, approximately 49.89% of Texas owner-occupied homes were valued below $200,000. By 2024, that share had dropped to 26.19%.

The estimated number of owner-occupied homes below the threshold fell from about 3.08 million to 1.87 million, even as the state’s total owner-occupied housing stock grew from approximately 6.18 million to 7.13 million.

The findings reflect a changing housing market for Texans searching for homes at lower price points. However, the figures do not represent active real estate listings or prove that homes were physically removed from the market.

Researchers noted that properties increasing in value beyond $200,000 can account for part of the decline. The analysis also used a fixed $200,000 threshold that was not adjusted for inflation.

For buyers across North Texas, East Texas and the Gulf Coast, the findings offer a statewide look at how the composition of the housing market has changed in five years.