Hook ’em. Gig ’em. Sic ’em. Go Frogs. Go Mean Green. Whatever you’ll be yelling at the TV this Saturday, if your student is on one of those campuses, another question may have crossed your mind between the tailgate and the fourth quarter. Would it make more sense to buy a home near campus than to pay four years of rent?
You can’t answer that without knowing what homes actually cost there. So here is the short answer.
As of mid-2026, typical home values in seven major Texas college cities range from about $200,000 in Waco to about $508,000 in Austin. Values are flat or down in six of the seven over the past year. Only College Station is slightly up.
That makes Texas college town home prices more favorable to buyers than national headlines suggest. Below, we break down each city, explain why different websites show different numbers, and walk through what parents should think about before buying.
Texas College Town Home Prices at a Glance
Here is how the seven cities compare, listed from most affordable to most expensive. Every figure comes from the same source, the Zillow Home Value Index, so the cities can be compared fairly.
Waco (Baylor) — Typical value: $200,115 | 1-year change: -2.1% | Median days to pending: 39 | Average rent: $1,369
Fort Worth (TCU) — Typical value: $298,353 | 1-year change: -2.0% | Median days to pending: 28 | Average rent: $1,614
Arlington (UT Arlington) — Typical value: $309,891 | 1-year change: -0.8% | Median days to pending: 26 | Average rent: $1,462
Dallas (SMU) — Typical value: $311,326 | 1-year change: -2.7% | Median days to pending: 29 | Average rent: $1,591
College Station (Texas A&M) — Typical value: $349,845 | 1-year change: +0.2% | Median days to pending: 33 | Average rent: $1,446
Denton (UNT, TWU) — Typical value: $353,757 | 1-year change: -3.8% | Median days to pending: 31 | Average rent: $1,480
Austin (UT Austin) — Typical value: $507,622 | 1-year change: -5.0% | Median days to pending: 39 | Average rent: $1,615
For comparison, the typical Texas home is valued at $302,999, down 1.9% over the past year.
Source: Zillow Home Value Index and Zillow Observed Rent Index. Data through June 30, 2026, except Fort Worth (July 31, 2026), Dallas (August 31, 2026) and Arlington (August 31, 2026).
Why Home Price Numbers Don’t Always Match
If you research these cities on your own, you’ll find numbers that seem to contradict each other. Dallas is the clearest example.
Zillow puts the typical Dallas home value at about $311,000. But the median sale price in Dallas is about $501,000. Both numbers are accurate. They just measure different things.
The typical home value estimates what every home in the city is worth, whether it sold or not. The median sale price only reflects the homes that actually sold. In Dallas right now, more high-priced homes are selling. That pulls the sale price up.
For parents, the difference matters. The typical value tells you about the city as a whole. The median sale price tells you what buyers are paying right now. And neither tells you what homes cost in the few blocks around campus.
That last number is the one you need. Near-campus neighborhoods often run well above or below the citywide figure. A good planning conversation starts with the specific area your student will live in.
A Closer Look at Each Campus City
Denton — University of North Texas and Texas Woman’s University
Denton is home to two universities – University of North Texas and Texas Women’s University – and sits a short drive from Flower Mound and Argyle. For many DFW families, it’s the closest college town on this list.
The typical Denton home is valued at $353,757, down 3.8% over the past year. That is one of the larger declines among the seven cities. About 60% of recent Denton sales closed under list price.
For parents, that points to room to negotiate. With average rent around $1,480, a home shared with roommates can offset a meaningful part of the monthly payment. If you’re weighing Denton, our Denton mortgage lender page covers the local market in more detail.
Denton is familiar ground for our own Shea Patton. He started college at Texas Tech, then transferred to UNT to be closer to home when his family needed him. He knows what it’s like to be a student here, and what families weigh when life changes plans. Today, as a mortgage planner and a licensed Texas Realtor, he helps parents look at a home near campus from both sides: the house itself and how to pay for it.
Dallas — Southern Methodist University
Dallas shows why citywide numbers can mislead. The typical Dallas home value is $311,326, down 2.7%.
But SMU’s campus sits in University Park, a separate city surrounded by Dallas. Home prices there run far higher than the Dallas average. Parents looking near SMU should plan on a very different price range than the citywide figure suggests.
Dallas homes are still moving, going pending in about 29 days. About 64% of recent sales closed under list price.
Denton is familiar ground for our own Shea Patton. He started college at Texas Tech, then transferred to UNT to be closer to home when his family needed him. He knows what it’s like to be a student here, and what families weigh when life changes plans. Today, as a mortgage planner and a licensed Texas Realtor, he helps parents look at a home near campus from both sides: the house itself and how to pay for it.
Fort Worth — Texas Christian University
Fort Worth has the second-lowest typical value on this list at $298,353, down 2.0% over the past year. Homes are going pending in about 28 days.
Like Dallas, Fort Worth is a large city where the neighborhoods closest to campus behave differently from the citywide average. The areas around TCU are established and in demand. Expect prices well above the city’s typical value.
For families in Southlake, Keller, or Grapevine, TCU is close enough that some parents consider a home near campus as a long-term rental after graduation.
Arlington — University of Texas at Arlington
Arlington offers one of the more affordable big-campus markets in DFW. The typical home is valued at $309,891, down just 0.8%.
It is also the fastest-moving market on our list. Homes go pending in about 26 days, and nearly 24% of recent sales closed over list price. Parents shopping in Arlington should be pre-approved and ready to act. Our guide to [LINK: mortgage pre-approval → https://texasmortgageplan.com/mortgage-pre-approval/] explains what that involves.
Waco — Baylor University
Waco is the most affordable city on this list. The typical home is valued at $200,115, down 2.1% over the past year.
Average rent in Waco is about $1,369. Compared with a typical home price near $200,000, that is a strong ratio for parents thinking about roommates helping with costs.
Buyers also have leverage here. About 67% of recent Waco sales closed under list price, and homes take about 39 days to go pending.
College Station — Texas A&M University
College Station is the only city on our list where values rose over the past year. The typical home is valued at $349,845, up 0.2%.
That is essentially flat, but it stands out against declines everywhere else. Texas A&M is one of the largest universities in the country, and that steady demand supports prices.
Buyers still have negotiating room. About 69% of recent sales closed under list price. Homes go pending in about 33 days, and average rent is around $1,446.
Austin — University of Texas at Austin
Austin is the most expensive college city on our list by a wide margin. The typical home is valued at $507,622.
It also had the steepest decline, down 5.0% over the past year. Austin is still cooling from its pandemic-era price run-up.
For parents, that combination cuts both ways. Prices are high, but about 67% of recent sales closed under list price. Homes take about 39 days to go pending. Average rent is about $1,615, the highest on our list.
What the NIL Headlines Say — and What Texas Numbers Show
You may have seen headlines connecting college athletes’ NIL money to rising home prices in college towns. NIL stands for name, image, and likeness. Since 2021, college athletes have been allowed to earn money from endorsements, sponsorships, and similar deals.
The national story is striking. According to HousingWire’s analysis of college housing markets, median list prices in several college towns rose sharply between 2019–2020 and the NIL era. Blacksburg, Virginia, home to Virginia Tech, led with a 47% increase. Athens, Georgia, rose 45%, and Bloomington, Indiana, rose 42%.
The same analysis found active inventory fell sharply in many of those towns. Ann Arbor listings dropped 56%, and Syracuse dropped 49%. Meanwhile, some student-athletes with six- and seven-figure NIL incomes began buying homes near campus.
It’s a compelling story. But it needs context.
Why the National Numbers Need Context
The NIL era began in 2021. That is the same moment the pandemic housing boom sent prices up almost everywhere. HousingWire itself notes that many factors have contributed to price growth this decade. It is hard to separate NIL’s effect from everything else happening at the same time.
What Texas Home Prices Actually Show
The numbers don’t match what we see in Texas. Texas has some of the biggest college football programs in the country. Yet values near six of our seven campuses fell over the past year. Statewide, Texas home values are down 1.9%.
So what does that mean for parents? In Texas today, you are not competing against a wave of NIL buyers. You are shopping in a market where buyers generally have more room to negotiate.
What This Means for Parents and Student-Athletes
For student-athletes and their families, NIL income raises its own mortgage questions. Lenders look closely at how long income has been received and whether it is likely to continue. We’ll cover that in depth in an upcoming article, Can NIL Income Qualify for a Mortgage in Texas?
What This Means for Parents Buying Near Campus
Knowing Texas college town home prices is only the first step. The bigger question is whether buying makes sense for your family.
Here are the questions we walk through with parents.
How long will you own the home?
Four years is a short time to own a home. Buying and selling costs can eat into any gain. Many parents plan to keep the home as a rental after graduation, or for a younger sibling.
How will the loan be classified?
A home bought for a student while the parents live elsewhere is usually financed as a second home or an investment property. That choice affects the down payment, rate, and qualifying rules. It needs to match how the home will actually be used.
Will roommates help pay the costs?
Renting rooms to other students can offset the payment. It may also mean the property is treated as an investment. Some parents use a DSCR loan, which qualifies based on rental income. Our guide to DSCR loans explains how that works.
Where will the down payment come from?
Many DFW parents have built significant equity in their own homes. That equity can help fund a purchase near campus. Our article on how much equity you can access in Texas covers the rules.
How does it compare with renting?
Four years of rent is a real cost with no equity at the end. But buying brings maintenance, insurance, taxes, and risk. Our guide on whether to rent longer or buy now walks through that comparison.
We’ll go deeper on each of these in our upcoming guide, Should Parents Buy a House Near Campus?
How to Use This Data Before You Buy
Market data is a starting point, not a decision. Here is how we suggest parents use it.
Start with the neighborhood, not the city. Citywide averages can be far from what homes near campus cost. Look at the specific streets your student would live on.
Run your own numbers. Your budget depends on your income, debts, and existing mortgage, not on a city’s average price. Our guide to how much house you can afford is a good place to begin.
Think about timing. With prices flat or down near most Texas campuses, some parents wonder whether to wait. Waiting has its own costs, which we explain in the cost of waiting to buy a home in Texas.
Talk to a lender before you shop. A planning conversation early can tell you which loan structure fits your goals. That matters more for a second home or rental than for a primary residence.
At Texas Mortgage Plan, our goal is not just to get you approved. It is to help you decide whether buying near campus is the right move for your family, and how to structure it if it is.
NEXT STEP
Before you start looking at homes near campus, find out what fits your budget. Our free Home Affordability Calculator shows what you can comfortably afford, based on your own numbers.
Try the Home Affordability Calculator
Want a broader starting point? Download our free Homebuyer Guide for a step-by-step look at the buying process.
Download the Free Homebuyer Guide
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How Much Equity Can You Access in Texas?
DSCR Loans Explained
FREQUENTLY ASKED QUESTIONS
Prices and Market Trends
Q: Which Texas college town has the most affordable home prices?
A: Waco, home to Baylor University, is the most affordable of the seven cities we compared. The typical home is valued at about $200,000. Fort Worth and Arlington are the most affordable options within DFW, both near $300,000 to $310,000.
Q: Are home prices rising in Texas college towns?
A: Not right now. Values fell over the past year in six of the seven cities we reviewed. Austin had the steepest decline at 5.0%. College Station was the only city with a gain, at 0.2%.
Q: Why do different websites show different home prices for the same city?
A: They often measure different things. A typical home value estimates what all homes are worth. A median sale price only reflects homes that sold recently. When more expensive homes are selling, the median sale price can run well above the typical value.
Parents Buying Near Campus
Q: Can I buy a home for my college student to live in?
A: Yes. Parents often do. The home is usually financed as a second home or an investment property, since the parents live elsewhere. Each option has different down payment and qualifying rules, so it helps to plan before you shop.
Q: Can my student’s roommates help pay the mortgage?
A: Rent from roommates can offset your costs. Depending on the setup, the home may be treated as an investment property. Some parents use a DSCR loan, which qualifies based on the property’s rental income.
Q: Can I use equity in my current home for the down payment?
A: Often, yes. Many Texas homeowners have built significant equity. Texas has specific rules on how much equity you can access, so it’s worth reviewing your options with a lender first.
NIL and Student-Athletes
Q: Is NIL money driving up home prices in Texas college towns?
A: The data doesn’t show that. National reports link NIL to price growth in some college towns, but those gains overlap with the pandemic housing boom. In Texas, values near most major campuses fell over the past year.
Q: Can NIL income be used to qualify for a mortgage?
A: It can be considered, but lenders look closely at how long it has been received and whether it is likely to continue. We’ll cover this in detail in an upcoming article.
Texas Mortgage Plan – 50+ years of combined mortgage experience, serving homeowners and homebuyers across Flower Mound and the DFW Metroplex. Elizabeth Rose, NMLS 252686, CDLP® Certified Divorce Lending Professional | Shea Patton, Mortgage Advisor, NMLS #251397, Licensed Realtor. Texas Mortgage Plan is a d/b/a of Legacy Mortgage, NMLS #1759275 | Equal Housing Lender