Mcallen, Texas Housing Market

What stands out in Mcallen?

• Asking prices swing about 2.5% between the cheapest and priciest months: among the flattest seasonal prices of 765 tracked cities. The month you buy matters little here.
• The typical listing has been on the market 82 days: among the longest listing ages of 765 tracked cities. Stale listings are common. Sellers who have waited are open to offers.

What moves the numbers in Mcallen?

Mcallen asking prices per square foot were above the year before in 90% of months since the data starts. Within a year, the cheapest and priciest months differ by about 2.5%. That is bigger than the yearly trend, so timing your purchase matters here. Nothing in Mcallen's numbers is far from its own normal. Your return comes from the property and the price you negotiate.

When do Mcallen prices dip?

Across 9 full years, Mcallen asking prices ran lowest in January, about 1.4% below the year's average. They peaked in December. The most homes for sale show up in November, about 6% above the yearly average. Shop in November for choice, and expect the softest asking prices in January.

Is now a good time to buy in Mcallen?

The median asking price is 20.5% below its Feb 2023 peak. Per square foot, asking prices are at their high. Part of the drop is smaller homes coming to market. Prices stopped falling about a year ago. They are flat now. Waiting will not get you a cheaper house. It might still get you a more motivated seller. Mcallen prices have risen in 100 of the last 111 months. Drops here have been short and shallow. Buying in a slow month has rarely hurt a long hold.

This market is turning. Which way is not settled yet. Check the monthly numbers above before you commit.

What is the fair market rent in Mcallen?

HUD sets one fair market rent for Hidalgo County. For fiscal year 2026:

• 1 bedroom: $847 a month. Up 6% on last year, up 51% since FY2016.
• 2 bedrooms: $1,060 a month. Up 7% on last year, up 45% since FY2016.
• 3 bedrooms: $1,376 a month. Up 7% on last year, up 52% since FY2016.
• 4 bedrooms: $1,522 a month. Up 6% on last year, up 38% since FY2016.

The figures include tenant-paid utilities and apply to all of Hidalgo County, so one home's rent can sit well above or below them. See fair market rent by city.

How much can you negotiate in Mcallen?

Pending-sale counts for Mcallen were thinly reported until recently, so this page reads demand from how long listings sit, how many sellers cut, and how much is for sale. Few sellers are dropping their price. Asking prices are holding firm. Your discount will come from one stale listing.

The typical Mcallen listing has been on the market 82 days. That is 23% longer than a year ago. There are 699 homes for sale in Mcallen. That is the most in ten years. It is 4 times the low of Apr 2022. Every one of them competes with the house you want.

What to do about it

• Judge each listing on its own.
• Homes listed 90+ days ago with a price cut are where your discount is.
• Fresh, well-priced homes will not move on price. Do not waste offers on them.

What numbers should you underwrite a Mcallen deal with?

• Price growth to assume — +5.3%/yr. Mcallen has grown about 5.3% a year for five years and for ten. That pace held before and after the 2020–2021 boom, so it is a fair long-run input. Prices rose 1.4% over the last year. Use it for timing. The five-year rate is the better guide.
• Months of carrying cost — 3. Budget at least 82 days of holding costs, the current median listing age, when you exit or refinance. That is 23% longer than a year ago.
• Odds you cut your price to sell — 1 in 7. 14% of Mcallen listings have cut their asking price. Underwrite your exit below asking.
• Comp on price per square foot — $163/sqft. The typical Mcallen listing shrank from 2,311 to 1,799 sqft since Jul 2016. So median price hides real growth: 71% per sqft versus 33% on the median. Comp on median price and you will overpay for small homes.
• Competition when you exit — +9%. Homes for sale in Mcallen are up 9% on last year, so your resale faces more competition than today's comps did.

Read how rent-to-price works and how we read these numbers, then run the numbers on a deal.

What is the median home price in Mcallen?

The median asking price in Mcallen is about $278,000 as of Sep 2026, down 3.5% from a year ago. The typical listing is 6% smaller than a year ago, and asking price per square foot is up 1.4%. So the size of homes on the market explains much of the drop. This is the asking price on homes listed for sale. Sites that report sold prices or estimated home values will show a different number. Our Mcallen figures cover the 5 ZIP codes with a Mcallen mailing address, which can reach past city limits.

Is Mcallen a buyer's or seller's market in 2026?

Neither side has the upper hand in Mcallen right now. We compare Mcallen with 2017–2019 at this time of year: there are 36% more homes for sale; 14% of sellers have cut their price, against 13% then; the typical listing has been up 0% more days.

Are Mcallen home prices going up or down?

The median asking price is 20.5% below its Feb 2023 peak. Per square foot, asking prices are at their high. Part of the drop is smaller homes coming to market. Prices stopped falling about a year ago. They are flat now. Waiting will not get you a cheaper house. It might still get you a more motivated seller.

What rent can Mcallen tenants afford?

At 30% of income, a tenant on the median income can pay about $1,564 a month. The median Mcallen household earns $62,543 a year.

What price growth should I assume for Mcallen?

Assume +5.3% a year. Mcallen has grown about 5.3% a year for five years and for ten. That pace held before and after the 2020–2021 boom, so it is a fair long-run input. Prices rose 1.4% over the last year. Use it for timing. The five-year rate is the better guide.

What is the fair market rent in Mcallen?

HUD's fiscal year 2026 fair market rent for Hidalgo County is $1,060 a month for 2 bedrooms and $1,376 for 3 bedrooms. The figures include tenant-paid utilities and cover the whole county.