Market Overview
Home Prices in Shallowater, TX
The median home value in Shallowater, TX is $297,387 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 4.3% compared to a year ago and down 2% from two years prior.
Compared to the U.S. national median of $410,000, homes in Shallowater are priced27% below average. Shallowater is part of the Lubbock, TX metro area.
Over the past five years, Shallowater home values have risen by approximately15.8%, reflecting steady appreciation in this market.
Price History
Shallowater Home Price Trend
City Comparison
Shallowater vs. National Median
At $297,387, homes in Shallowater cost 27% below the national median of $410,000. This makes Shallowater a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Shallowater?
20% Down Payment
$59,477
on $297,387
Monthly P&I
$1,551/mo
30-yr @ 6.8%
Total Monthly Est.
~$1,970/mo
incl. taxes & insurance
Income Needed
$78,800
gross annual (30% rule)
10% Down Option
$29,739
+ PMI applies
Loan Amount (20% dn)
$237,910
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 Shallowater, TX?
The median home value in Shallowater is $297,387 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 4.3% year-over-year.
How much have home prices changed in Shallowater?
Over the past year, home values in Shallowater have increased by 4.3%. Over five years, prices have risen approximately 15.8%.
How much do I need to earn to buy a home in Shallowater?
To comfortably afford the median home price of $297,387 with a 20% down payment ($59,477) at today's rates (6.8%), you'd need a gross annual income of approximately $78,800. This assumes keeping total housing costs at or below 30% of gross income.
How does Shallowater compare to the national average home price?
The national median home value is approximately $410,000. At $297,387, homes in Shallowater are 27% below the national average.
What metro area is Shallowater part of?
Shallowater is part of the Lubbock, TX metropolitan area. Home prices and market conditions can vary across the broader metro region.