TEXAS · RENT OR SELL
Should you rent or sell your house in Richardson, TX?
The calculator below starts with a typical Richardson home — median value, median rent, local property tax. Swap in your own numbers to see what renting puts in your pocket each month and what selling puts in your hand today.
Richardson by the numbers
| Measure | Richardson | Typical Texas city |
|---|---|---|
| Median home value | $431,400 | $287,800 |
| Median rent (monthly) | $1,857 | $1,472 |
| Years of rent to buy | 19.4 | 15.7 |
| Value change since 2015–2019 | 57% | 60% |
| Homes that are rented | 49% | 38% |
| Property tax, % of value | 1.5% | 1.6% |
| Population | 118,731 | — |
Source: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates (tables B01003, B25077, B25064, B25103, B25003); 2015–2019 values from Census ACS 2015–2019. "Typical" is the median across the 157 Texas cities of 20,000+ people we track. Median rent covers every kind of rental, including apartments — a single-family house often rents for more.
What the numbers say about Richardson
The median home in Richardson is worth about $431,400, and the median rent is $1,857 a month. That's about 19.4 years of rent to buy the home — more than the typical Texas city we track (15.7). Homes here are pricey next to what they rent for, so rent has a harder time covering the costs of an owned house, and selling often looks better on paper.
Values have risen about 57% since the 2015–2019 Census survey, when the median was $274,200, in line with the rest of Texas (60%). That is enough gain that selling before the tax-free window closes can be worth real money.
Take an owner who bought a median-priced Richardson home around mid-2019 for $274,000, with 20% down at 3.94%. Their payment is about $1,039 a month. Rented at the median rent, after property tax of about $6,500 a year, insurance, a repair reserve and a little vacancy, it would cost about $115 a month out of pocket. Selling at today's median would put about $213,830 in hand after the loan and selling costs — a gain of about $126,830, which a single filer could usually keep tax-free by selling in time.
About 49% of homes in Richardson are rented, more than in most Texas cities (38%) — a deep pool of renters means shorter vacancies. Property tax runs about 1.5% of value a year, typical for Texas (1.6%).
The example owner is an illustration, not a forecast: bought at the 2015–2019 median with 20% down at 3.94% (Freddie Mac PMMS 2019 average), a 30-year loan, $1,800 a year of insurance, an 8% repair reserve, 5% vacancy, and 7% selling costs.
If you rent it out in Texas
Security deposit. Return the deposit within 30 days, counted from the day the tenant surrenders (moves out of) the property. If you keep any part of the deposit, send the balance with a written description and itemized list of every deduction. You can skip the list only if the tenant owes rent when they leave and there is no dispute about how much.
Late fees. Rent must stay unpaid for two full days after the due date. With rent due on the 1st, the earliest a late fee can apply is the 4th. A fee is presumed reasonable if the total for one rental period is no more than 12% of the month's rent in a building with 4 or fewer units, or 10% in a building with more than 4. An initial fee plus daily fees count together as one fee. A higher fee is allowed only if it is a reasonable estimate of your actual damages. Source: Tex. Prop. Code § 92.019 · verified October 3, 2026
Source: Tex. Prop. Code § 92.103, § 92.104, § 92.107, § 92.109 · verified October 3, 2026
General information, not legal advice. Laws change and local rules can be stricter — check the linked statute before you act.
More detail: Texas security deposit rules · Should I rent or sell my house? · The 2-out-of-5-year rule
QUESTIONS
Richardson questions
Is it better to rent out or sell a house in Richardson?
For a typical Richardson home bought around 2019, renting at the median rent of $1,857 works out to about $115 a month out of pocket, while selling at the median value of $431,400 would net about $213,830. Your own mortgage, rent and purchase price decide it — enter them in the calculator above.
What is the median rent in Richardson?
$1,857 a month, per the Census ACS 2020–2024 estimates. That median covers every kind of rental, including apartments, so a single-family house often rents for more.
How much is property tax in Richardson?
The median owner pays about $6,482 a year, roughly 1.5% of the median home value (Census ACS 2020–2024). Your bill depends on your appraisal and exemptions — and a rental loses any homestead exemption.