Cost of Living in Gray County, Texas
At a Glance
Rent burden measured as median gross rent as a percentage of renter household income (Census ACS B25071)
How Gray County Compares
Median monthly rent comparison
Detailed Housing Stats
National Ranking
Affordability Rank
Gray County ranks #3,033 of 3,144 counties for affordability (bottom 4%)
Data Story
About Cost of Living in Gray County, Texas
Gray County rents creep above national average
Gray County's rent-to-income ratio of 19.2% exceeds the national average of 18.1%, placing renters under slightly more financial pressure than typical Americans. The county's median rent of $898 reflects modest housing costs, but they consume a larger share of incomes here than elsewhere.
Mid-pack affordability within Texas
At 19.2%, Gray County's rent burden sits above Texas's state average of 18.1%, indicating moderate affordability challenges compared to peers. The county's median home value of $100,400 is among the lowest in the state, appealing to buyers seeking deep discounts.
Rents higher than rural neighbors
Gray County's $898 median rent exceeds Hall County's $610 and Hale County's $798, though it remains below Grayson County ($1,178) and Gregg County ($1,072). Among small counties in this region, Gray sits in the middle of the rental market.
Renting strains lower incomes here
With a median household income of just $56,082, renters paying $898 monthly spend nearly 19% of income on housing alone. Homeowners enjoy a better bargain at $731 monthly (15.6% of income), making ownership the clearer financial advantage for those who can afford it.
Gray County suits buyers over renters
If you're looking to buy, Gray County's rock-bottom home values ($100,400 median) offer serious equity-building potential on a Texas budget. Renters, however, should compare this market carefully with the slightly cheaper options in nearby Hall County.
Cost of Living Advisory: Gray County
Affordability Verdict
For renters in Gray County, the market is affordable. Expect to pay around $898/month in gross rent, with 30.0% of renter households considered cost-burdened.
Rent vs. Own
The median rent in Gray County is $898/month, while owner costs run $731/month. Owning saves approximately $167/month.
Income Needed
To afford the median rent without exceeding 30% of gross income, a household needs to earn approximately $35,920/year. For owner costs at the 28% rule, the required income is roughly $31,329/year. With a median household income of $56,082, most households can comfortably afford rent here. Notably, 30.0% of renter households in Gray County are cost-burdened, spending more than 30% of income on housing.
Regional Context
Within Texas, Gray County is more affordable than Hamilton County by roughly 6% ($898/mo vs $847/mo).
Affordability Calculator
See how your income compares to housing costs in Gray County
Rent Burden
19.2%
of gross income
Max Housing (28% Rule)
$1,309
per month
Owner Cost Burden
15.6%
of gross income
You can likely afford the median home in Gray County
Median home value is $100,400. Estimated monthly cost: $802 vs. your max of $1,309.
Rent Affordability Guide
Income Needed Calculator
See how much you need to earn to comfortably afford housing
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Based on the 30% rule for rent and 28% rule for housing costs (mortgage + owner costs). Mortgage estimate assumes 20% down, 7.2% interest, 30-year fixed.
Frequently Asked Questions
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See Today's RatesData: U.S. Census Bureau, American Community Survey (ACS) 5-Year Estimates (2019-2023) — Informational only. Not financial or legal advice.
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