Canyon, TX—79015
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Canyon, TX
As of Oct '25, the median home price in Canyon, TX is $290,000, with a year-over-year change of 0.7%. This indicates that home prices in Canyon, TX are flat. According to Zillow, the 1-year price projection is 0.8%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $290,000 | 0.7% |
| Single Family | $290,000 | 0.7% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $127,000 | 4.1% |
2 Bed | $146,000 | 2.8% |
3 Bed | $270,000 | 0.7% |
4 Bed | $412,000 | 1.2% |
| 5 Bed | $543,000 | 0.4% |
% of Housing Stock
Rental Trends — Canyon, TX
As of July '25, Rentcast reports the average rent in Canyon, TX is $1,230, with a year-over-year rent change of -8.9%. Per bedroom, the median rent as of July '25 in Canyon, TX is studios: $700, 1-bedrooms: $752, 2-bedrooms: $1,040, 3-bedrooms: $1,680, 4-bedrooms: $1,830. The most common rental property sizes in Canyon, TX are 2-bedroom and 3-bedroom, accounting for 39.8% and 28.5% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,000 | $1,230 |
| Studio Rent | $700 | $700 |
| 1 Bed Rent | $750 | $752 |
| 2 Bed Rent | $911 | $1,040 |
| 3 Bed Rent | $1,600 | $1,680 |
| 4 Bed Rent | $1,750 | $1,830 |
% of Rental Stock
Property Listings — Canyon, TX
As of Oct '25, Realtor.com reports that the median days on market for a home in Canyon, TX is 61. This is a increase of 1.0% from last year, suggesting that homes are sitting on the market about the same amount of time than last year. The percentage of listed homes with a reduced price is 19.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $411,000 | -2.0% |
Listing Count | 135 | -1.0% |
| Listings as % of Homes | 0.8% | -1.0% |
Days on Market | 61 | 1.0% |
Demographics — Canyon, TX
As of the latest ACS Survey released in 2023, Canyon, TX has a population of 23,200, which has increased by 4.6% over the past 5 years. Canyon, TX is a moderately popular place for families, as children make up 23.4% of the population. The area has a moderately educated workforce, with 40.3% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 6.4% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 23,200 | 4.6% |
% Under 18 | 23.4% | 1.3% |
% Seniors | 12.6% | 0.0% |
% WFH | 6.4% | 88.2% |
% w/ College Degree | 40.3% | -4.5% |
As of the latest ACS Survey released in 2023, Canyon, TX is a predominantly white area, with 79.0% of the population identifying as white. The white population has grown by 1.5% in the last 5 years. The second most common race or ethnicity in Canyon, TX is hispanic, making up 14.9% of the population. Foreign-born residents account for 4.4% of the population in Canyon, TX, and this percentage has increased by 4.8% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 79.0% | 1.5% |
% Black | 2.7% | 28.6% |
% Hispanic | 14.9% | -12.4% |
% Asian | 1.2% | 9.1% |
% Foreign Born | 4.4% | 4.8% |
Mortgage and Risk — Canyon, TX
According to HUD data as of 2023, there were 416 mortgage originations in Canyon, TX, of which 76.0% of loans were conventional mortgages. The average loan-to-value was 70.0%, with 33.0% above 90% LTV (very high). This implies large mortgage risk in Canyon, TX. Investor activity is low, as 3.0% of loans were by investors. 11.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 416 |
% Conventional Loans | 76.0% |
% Government Loans | 24.0% |
% Investor Loans | 3.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 11.0% |
Loan Activity
Rentals and Section 8 — Canyon, TX
As of 2024, the percent of homes in Canyon, TX under the Section 8 program is 2.0%. 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 units appear to be good home sizes to consider for Section 8 housing in Canyon, TX, because HUD payments exceed market rent, while 3-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 109 |
Total Units Section 8 | 65 |
% Rentals under Section 8 | 2.0% |
% Occupied Section 8 | 79.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $150 | $750 | $900 |
| 2 Bedroom | $179 | $911 | $1,090 |
| 3 Bedroom | -$100 | $1,600 | $1,500 |
| 4 Bedroom | -$10 | $1,750 | $1,740 |
Affordability — Canyon, TX
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.3 |
| Median Home Price | $290,000 |
| Median Household Income | $81,400 |