Pharr, TX—78577
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Pharr, TX
As of Oct '25, the median home price in Pharr, TX is $162,000, with a year-over-year change of -2.2%. This indicates that home prices in Pharr, TX are decreasing. According to Zillow, the 1-year price projection is 1.5%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $162,000 | -2.2% |
| Single Family | $163,000 | -2.4% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $85,000 | -5.6% |
2 Bed | $120,000 | -4.8% |
3 Bed | $164,000 | -1.8% |
4 Bed | $243,000 | 0.0% |
| 5 Bed | $324,000 | 0.0% |
% of Housing Stock
Rental Trends — Pharr, TX
As of July '25, Rentcast reports the average rent in Pharr, TX is $1,270, with a year-over-year rent change of 2.4%. Per bedroom, the median rent as of July '25 in Pharr, TX is 1-bedrooms: $835, 2-bedrooms: $1,050, 3-bedrooms: $1,400, 4-bedrooms: $2,110. The most common rental property sizes in Pharr, TX are 2-bedroom and 3-bedroom, accounting for 45.0% and 34.5% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,220 | $1,270 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $800 | $835 |
| 2 Bed Rent | $1,000 | $1,050 |
| 3 Bed Rent | $1,300 | $1,400 |
| 4 Bed Rent | $1,850 | $2,110 |
% of Rental Stock
Property Listings — Pharr, TX
As of Oct '25, Realtor.com reports that the median days on market for a home in Pharr, TX is 59. This is a decrease of -4.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 21.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $208,000 | -11.0% |
Listing Count | 243 | 36.0% |
| Listings as % of Homes | 0.5% | 36.0% |
Days on Market | 59 | -4.0% |
Demographics — Pharr, TX
As of the latest ACS Survey released in 2023, Pharr, TX has a population of 79,900, which has increased by 2.7% over the past 5 years. Pharr, TX is a popular place for families, as children make up 32.9% of the population. The area has a poorly educated workforce, with 17.5% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 6.2% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 79,900 | 2.7% |
% Under 18 | 32.9% | -4.1% |
% Seniors | 10.6% | -9.4% |
% WFH | 6.2% | 26.5% |
% w/ College Degree | 17.5% | 16.7% |
As of the latest ACS Survey released in 2023, Pharr, TX is a predominantly hispanic area, with 95.0% of the population identifying as hispanic. The hispanic population has grown by 1.0% in the last 5 years. The second most common race or ethnicity in Pharr, TX is white, making up 4.5% of the population. Foreign-born residents account for 29.0% of the population in Pharr, TX, and this percentage has decreased by 9.7% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 4.5% | -15.1% |
% Black | 0.6% | 500.0% |
% Hispanic | 95.0% | 1.0% |
% Asian | 0.2% | -50.0% |
% Foreign Born | 29.0% | -9.7% |
Mortgage and Risk — Pharr, TX
According to HUD data as of 2023, there were 432 mortgage originations in Pharr, TX, of which 55.0% of loans were conventional mortgages. The average loan-to-value was 81.0%, with 52.0% above 90% LTV (very high). This implies large mortgage risk in Pharr, TX. Investor activity is low, as 11.0% of loans were by investors. 9.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 432 |
% Conventional Loans | 55.0% |
% Government Loans | 45.0% |
% Investor Loans | 11.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 9.0% |
Loan Activity
Rentals and Section 8 — Pharr, TX
As of 2024, the percent of homes in Pharr, TX under the Section 8 program is 9.6%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 1-bedroom and 2-bedroom and 3-bedroom units appear to be good home sizes to consider for Section 8 housing in Pharr, TX, because HUD payments exceed market rent, while 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 1,162 |
Total Units Section 8 | 975 |
% Rentals under Section 8 | 9.6% |
% Occupied Section 8 | 93.2% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $20 | $800 | $820 |
| 2 Bedroom | $20 | $1,000 | $1,020 |
| 3 Bedroom | $30 | $1,300 | $1,330 |
| 4 Bedroom | -$380 | $1,850 | $1,470 |
Affordability — Pharr, TX
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3 |
| Median Home Price | $162,000 |
| Median Household Income | $49,800 |