College Station is one of the fastest growing metro areas in the state of Texas. People from all over the country are moving here for education opportunities, job opportunities, good schools at College Station ISD, business-friendly state policies, amazing outdoors, hunting, fishing, and even to make a smart investment in a growing real estate market.
When it comes to moving to the College Station area, a lot of my clients will ask me the following question at one point or another: how big is the College Station market?
This isn’t the easiest question to answer, but here’s a great way to look at the College Station real estate market in comparison to other popular markets.
College Station Real Estate Market Comparisons
One of the best ways to get a grasp on the size of the College Station real estate market is to look at it in comparison to other similar markets in the country. As of the 2019 census, College Station reported a population of around 270,000, making it the 175th biggest metro area in the country.
College Station is unique in that it is an academic hub. Compared to other cities that don’t have a major university, College Station might seem like a more affluent, younger, or diverse metro area. Here are some basic demographic stats for College Station from censusreporter.org:
According to the data, College Station has:
- 113,390 housing units
- 83% occupancy rate
- 52% owner occupied
- 59% of the structures are single family units
- 33% of the structures are multi-family units
- 42% have moved since 2017
Here are a list of other cities that have similar housing markets:
- Fort Wayne, IN
- Chandler, AZ
- Toledo, OH
- St. Petersburg, FL
- Reno, NV
- Laredo, TX
- Scottsdale, AZ
- North Las Vegas, NV
- Lubbock, TX
- Madison, WI
- Jersey City, NJ
- Glendale, AZ
- Buffalo, NY
- Winston-Salem, NC
Of the cities listed above Fort Wayne, IN, Reno, NV, Lubbock, TX, Madison, WI, Glendale AZ, Buffalo, NY, and Winston-Salem, NC have large state schools, which means that they’re very easy to compare to the College Station metro area.
Let’s take a look at the housing stats for each of those metro areas.
Fort Wayne, IN
Looking at other similarly sized metro areas, we can see that College Station, TX is right in the middle of the pack.
In instances where these metro areas aren’t nearby other larger cities (for example, Glendale AZ is actually a suburb of Phoenix, a much bigger city and part of those metro areas overlap) we generally see the number of housing units around 110,000 – 120,000 mark. With a population around 250k, that means that there are is a unit for every 2.25 people.
From a size and available inventory perspective the College Station housing market isn’t much bigger – or smaller – than other metro areas with a similar demographic makeup and economy.
Median Price is the Differentiator in College Station Real Estate
Now, let’s look at the median price of homes in the adjacent markets.
College Station, TX
Fort Wayne, IN
Aside from Reno, NV, College Station has the highest median price for available real estate. This means that our housing market, while not big in size, is pretty robust when it comes to capital.
Either way you look at it, College Station has a pretty sizable real estate market and is performing at a very competitive median price rate.