Market Overview
Home Prices in Spearman, TX
The median home value in Spearman, TX is $126,506 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 2.9% compared to a year ago and down 6.7% from two years prior.
Compared to the U.S. national median of $410,000, homes in Spearman are priced69% below average. Spearman is part of the Borger, TX metro area.
Over the past five years, Spearman home values have fallen by approximately11.8%, reflecting softening conditions in this market.
Price History
Spearman Home Price Trend
City Comparison
Spearman vs. National Median
At $126,506, homes in Spearman cost 69% below the national median of $410,000. This makes Spearman a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Spearman?
20% Down Payment
$25,301
on $126,506
Monthly P&I
$660/mo
30-yr @ 6.8%
Total Monthly Est.
~$838/mo
incl. taxes & insurance
Income Needed
$33,520
gross annual (30% rule)
10% Down Option
$12,651
+ PMI applies
Loan Amount (20% dn)
$101,205
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 Spearman, TX?
The median home value in Spearman is $126,506 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 2.9% year-over-year.
How much have home prices changed in Spearman?
Over the past year, home values in Spearman have increased by 2.9%. Over five years, prices have fallen approximately 11.8%.
How much do I need to earn to buy a home in Spearman?
To comfortably afford the median home price of $126,506 with a 20% down payment ($25,301) at today's rates (6.8%), you'd need a gross annual income of approximately $33,520. This assumes keeping total housing costs at or below 30% of gross income.
How does Spearman compare to the national average home price?
The national median home value is approximately $410,000. At $126,506, homes in Spearman are 69% below the national average.
What metro area is Spearman part of?
Spearman is part of the Borger, TX metropolitan area. Home prices and market conditions can vary across the broader metro region.