Richardson, Texas Housing Market

How deep is Richardson's renter pool?

49% of occupied homes in Richardson's ZIP codes are rented, more than in 87% of the cities we track. HUD's county-wide fair market rent for 2 bedrooms is $1,931 a month, including utilities. A deep renter pool shortens vacancy. It also means you compete with other landlords on condition and price.

Who will rent from you in Richardson?

In Richardson, 49 out of every 100 households rent. That is nearly half. The renter share is growing. Five years ago it was 40 in 100. Richardson added about 5,600 renter households in five years. Renter households average 2.2 people. Two and three bedrooms fit the typical renter.

Households grew 8% in five years. The housing stock grew 7%. Demand is outrunning supply. Just 4.5% of homes sit empty. A well-priced rental fills fast here.

The median Richardson household earns $97,969 a year. Incomes here have grown 2.7% a year since 2019. Incomes and home prices are rising in step. A typical home costs 4.5 times the median income. That is the national middle. Neither cash flow nor appreciation is free here. At 30% of income, a tenant on the median income can pay about $2,449 a month.

To see what one Richardson address would rent for and cash flow, run it through the app.

How does Richardson compare with other Texas markets?

Ranked among the 77 Texas markets we track:

• Asking price: 18th priciest of 77. Richardson is at $441,694. Closest: Midland and Dallas.
• Buyer competition: 23rd least competitive of 67. Richardson is at 0.24 buyers per home. Closest: Rowlett and Texas City.
• Time on market: 6th shortest time on market of 77. Richardson is at a median of 52 days on market. Closest: Grand Prairie and Missouri City.
• Price cuts: 16th most price cuts of 77. Richardson is at 28% of sellers cutting. Closest: North Richland Hills and Tyler.

How much can you negotiate in Richardson?

For every 100 homes still for sale, 24 are under contract. In 2017–2019 at this time of year it was 53. The rest are still waiting for a buyer. About 1 in 4 sellers has already dropped their price. Each one has learned their first price was too high. Start your offer below their new price.

Richardson listings spend a median 52 days on the market. There are 313 homes for sale in Richardson. That is the most in ten years. It is 8 times the low of Feb 2022. Every one of them competes with the house you want.

What to do about it

• Search Richardson homes listed 60+ days ago that have already cut their price.
• Offer below the reduced price.
• Keep your inspection and financing contingencies.
• Ask the seller to pay closing costs.
• You can lose a few offers here and still win.

What is the fair market rent in Richardson?

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

• 1 bedroom: $1,648 a month. Up 3% on last year, up 107% since FY2016.
• 2 bedrooms: $1,931 a month. Up 2% on last year, up 96% since FY2016.
• 3 bedrooms: $2,431 a month. Up 3% on last year, up 82% since FY2016.
• 4 bedrooms: $3,091 a month. Up 2% on last year, up 83% since FY2016.

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

What numbers should you underwrite a Richardson deal with?

• Price growth to assume — +3.1%/yr. Richardson grew 5.1% a year over the decade. Ignore that rate. Most of it landed in the 2020 and 2021 boom. Without the boom, Richardson grows about 3.1% a year. That is the number to type in. Prices rose 0.9% over the last year. Use it for timing. The five-year rate is the better guide.
• Odds you cut your price to sell — 1 in 4. 28% of Richardson listings have cut their asking price. Underwrite your exit below asking.
• Comp on price per square foot — $234/sqft. The typical Richardson listing shrank from 2,522 to 2,093 sqft since Jul 2016. So median price hides real growth: 67% per sqft versus 29% on the median. Comp on median price and you will overpay for small homes.
• Competition when you exit — +5%. Homes for sale in Richardson are up 5% on last year, so your resale faces more competition than today's comps did.

Read whether a market fits Section 8 tenants and how we read these numbers, then run the numbers on a deal.

What is the median home price in Richardson?

The median asking price in Richardson is about $442,000 as of Oct 2026, down 5.3% from a year ago. Asking price per square foot is up 0.9%, so read the median with care: it moves with which homes happen to be listed. 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 Richardson figures cover the 5 ZIP codes with a Richardson mailing address, which can reach past city limits.

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

Buyers have more room in Richardson than usual. We compare Richardson with 2017–2019 at this time of year: there are 24 pending sales per 100 listings, against 53 then; there are 37% more homes for sale; listings spend 13% more days on the market.

Are Richardson home prices going up or down?

The median asking price is 20.8% below its May 2023 peak. Per square foot the gap is smaller: 4.9% below the Aug 2023 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 is the best month to buy a house in Richardson?

Across 9 full years, Richardson asking prices ran lowest in January, about 2.3% below the year's average. They peaked in May. The most homes for sale show up in August, about 24% above the yearly average.

What is the fair market rent in Richardson?

HUD's fiscal year 2026 fair market rent for Dallas County is $1,931 a month for 2 bedrooms and $2,431 for 3 bedrooms. The figures include tenant-paid utilities and cover the whole county.