GRAYSON COUNTY, Texas (KTEN) — As Grayson County grows, property values are expected to rise.

The average price to buy a home in the county was around $300,000 last month; that's up about 6 percent from 2023.

Over the past five years, home values in the county have increased by around 75 percent.

Comparing the growth Grayson County has already seen to the growth in places like McKinney, Texas, you get an idea of how much prices could go up in the future.

Five years ago, in 2019, the average price for a home was around $340,000 in McKinney, almost exactly what it is now in Grayson County.

If you want to buy a home in McKinney today, the average price is around $540,000 — up by almost 60 percent.

Tommi Homuth, owner of Tracy Realty in Denison, said that makes Grayson County real estate a great buy. 

"Our home prices are like 46 percent lower in this area than the national average," she said. "I was working with a couple in McKinney; they're selling their home to buy a house up here, because they can get acreage. You really can get more for your money in Grayson County." 

But many first time home owners say they're holding off due to higher interest rates.

While property values are higher and could increase in the next few years, tax rates also have an impact on property values.

"Well, property values have gone up, so property taxes have gone up," Homuth said. 

Michelle Castle, area manager of Guild Mortgage explains how property tax rates vary from city to city.

"The percentage that they pay, the tax rate, will be based on any kind of bond elections or any kind of changes in the city, county, or state government," said Castle.

If you live in Grayson County, to figure out your property tax rate estimate click here.