Market Overview
Home Prices in Penelope, TX
The median home value in Penelope, TX is $249,050 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's down 3.5% compared to a year ago and down 0.3% from two years prior.
Compared to the U.S. national median of $410,000, homes in Penelope are priced39% below average.
Price History
Penelope Home Price Trend
2022
$258,107
$258K
—
2023
$241,655
$242K
-6.4%
2024
$258,902
$259K
+7.1%
2025
$258,028
$258K
-0.3%
2026
$249,050
$249K
-3.5%
City Comparison
Penelope vs. National Median
🏠 Penelope
$249,050
National Median
$410,000
At $249,050, homes in Penelope cost 39% below the national median of $410,000. This makes Penelope a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Penelope?
20% Down Payment
$49,810
on $249,050
Monthly P&I
$1,299/mo
30-yr @ 6.8%
Total Monthly Est.
~$1,650/mo
incl. taxes & insurance
Income Needed
$66,000
gross annual (30% rule)
10% Down Option
$24,905
+ PMI applies
Loan Amount (20% dn)
$199,240
at current rates
Estimates assume a 30-year fixed mortgage at 6.8%. Monthly total includes estimated property taxes and homeowner's insurance. Actual costs vary.
FAQ
Frequently Asked Questions
What is the average home price in Penelope, TX?
The median home value in Penelope is $249,050 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's down 3.5% year-over-year.
How much have home prices changed in Penelope?
Over the past year, home values in Penelope have decreased by 3.5%.
How much do I need to earn to buy a home in Penelope?
To comfortably afford the median home price of $249,050 with a 20% down payment ($49,810) at today's rates (6.8%), you'd need a gross annual income of approximately $66,000. This assumes keeping total housing costs at or below 30% of gross income.
How does Penelope compare to the national average home price?
The national median home value is approximately $410,000. At $249,050, homes in Penelope are 39% below the national average.