Home Values in Grand Prairie, Texas — 2026 Market Report
Updated March 2026 | Seller's Market | +6.1% YoY
The median home value in Grand Prairie, Texas is $285,000 as of March 2026, which is below the national median of $400,000. Home values in Grand Prairie have increased by 6.1% over the past year and 34.5% over the last five years. With a population of 196,100 and a median household income of $62,500, the price-to-income ratio stands at 4.6x, making Grand Prairie affordable for the average household.
Grand Prairie Housing Market Conditions
| Metric | Grand Prairie | National Avg |
|---|---|---|
| Median Home Value | $285,000 | $400,000 |
| YoY Appreciation | +6.1% | +3.8% |
| 5-Year Appreciation | +34.5% | +22.4% |
| Price per Sq Ft | $114 | $222 |
| Days on Market | 32 days | 45 days |
| Months of Supply | 1.5 | 3.5 |
| List-to-Sale Ratio | 101.4% | 98.5% |
| Monthly Homes Sold | 160 | — |
| Foreclosure Rate | 0.11% | 0.3% |
Home Value Trends in Grand Prairie
A homeowner who purchased at the median price of $211,896 five years ago in Grand Prairie would have gained approximately $73,104 in equity, representing a 34.5% return on investment. Over the past year alone, the typical homeowner gained $16,385 in home equity.
Affordability in Grand Prairie, TX
With a median household income of $62,500 and a median home price of $285,000, the price-to-income ratio in Grand Prairie is 4.6x. A ratio below 3x is generally considered affordable, while above 5x indicates significant affordability challenges. The average monthly rent of $2,083 compared to estimated monthly ownership costs of $1,782 gives a rent-vs-buy ratio of 0.86. In Grand Prairie, buying is currently competitive with renting when factoring in equity accumulation.
Property Taxes in Grand Prairie
The effective property tax rate in Texas is 1.8%. On a home valued at $285,000, the estimated annual property tax bill is $5,130, or approximately $428/month. Property taxes are an important factor in the total cost of homeownership and can significantly impact affordability. The cost of living index in Grand Prairie is 93.5 (100 = national average), indicating living costs are below the national average.
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Open Mortgage CalculatorFrequently Asked Questions
What is the median home value in Grand Prairie, TX?
The median home value in Grand Prairie, Texas is $285,000 as of March 2026. Home values have changed +6.1% over the past year, with a 5-year appreciation of 34.5%.
Is Grand Prairie a buyer's or seller's market?
Grand Prairie is currently a seller's market with 1.5 months of housing supply. Homes spend an average of 32 days on market, and the list-to-sale price ratio is 101.4%. Low inventory gives sellers an advantage.
Are home values going up in Grand Prairie?
Yes, home values in Grand Prairie have increased by 6.1% over the past year. The 5-year appreciation rate is 34.5%, meaning a home worth $211,896 five years ago is now worth $285,000.
Is it better to rent or buy in Grand Prairie?
The average monthly rent in Grand Prairie is $2,083, while estimated monthly homeownership costs are approximately $1,782. The price-to-rent ratio is 11.4. Based on current conditions, buying may be more cost-effective than renting in this market.
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Disclaimer: Home value data for Grand Prairie, Texas is based on publicly available market data and estimates. Actual home values may vary based on property condition, location within the city, and current market conditions. Data is updated regularly but may not reflect the most recent transactions. Last updated: March 2026.