Coke County

Coke County sits at a median home price of $156,223, which places it among the more affordable entry points in West Texas. Year-over-year price growth of 2.55% is measured rather than spectacular, and the affordability index of 97 out of 100 confirms this is one of the cheaper places to buy in the country relative to incomes. The data does not include a median rent figure or a populated cap rate, which means the cash-flow score comes in at zero and no rent-to-price ratio can be calculated from the provided inputs. That absence is itself informative: rental market data thin enough to leave those fields blank signals a county where the investor-grade rental infrastructure, tenant pool depth, and comparable lease data are all harder to source and verify than in more liquid markets. What is present, and what the scores reflect, is a 76 appreciation score alongside a 50 stability score, which puts Coke squarely on the appreciation side of the spectrum rather than the cash-flow side, though that appreciation case rests on a modest 2.55% annual price gain rather than any dramatic growth story.

The investor this county suits most is someone with a long time horizon, low leverage, and a specific local thesis, not a cash-flow buyer running a spreadsheet from out of state. With no reliable rent data in the model, a cash-flow underwrite cannot be responsibly constructed from this dataset alone. The affordability score of 97 and the $156,223 price point are genuinely attractive for an appreciation buyer who believes West Texas land and housing will reprice upward over a decade, particularly if energy-sector activity in the broader Permian Basin region lifts surrounding counties. A value-add operator working this market would need boots-on-the-ground knowledge of local contractor availability and resale depth in a county of 3,305 people, where buyer pools are thin by definition and exit options are limited.

On economic context, no specific employer or economic anchor data was provided for Coke County, so no claims about the local job base can be made here. What the population figure does tell you is that at 3,305 residents, this is a micro-market where a single employer entering or exiting can materially shift rental demand and home values. That concentration risk is real and worth independent research before committing capital.

The tax and insurance carry costs deserve attention in any underwrite. Using Texas's state-average effective property tax rate of 1.80%, the estimated annual property tax on a $156,223 purchase is $2,812, and annual insurance runs approximately $781 at the 0.50% rate applied here, bringing combined monthly tax and insurance to $299. At 1.80%, Texas's property tax rate is high enough to deserve its own line on your underwrite, and the note accompanying this data is worth taking seriously: this is a state-average estimate sourced from Tax Foundation 2024 data, and actual county or township rates in Coke County may differ, in either direction. On a low-priced asset the dollar impact is manageable, but as a percentage of any rent you can actually collect, $299 per month in tax and insurance alone is a meaningful floor cost before mortgage service, maintenance, or vacancy.

The principal risk here is concentration and illiquidity. A county of 3,305 people has a small tenant universe and a shallow resale market. If your property sits vacant, there is no large pool of renters to draw from, and if you need to exit, your buyer pool is similarly constrained. The stability score of 50 reflects this, sitting at the midpoint rather than signaling a resilient, diversified local economy. Regulatory risk is not flagged by the available data, and vacancy or crime statistics are not provided, so no claims are made on those dimensions.

Against its neighbors, Coke's $156,223 median price is competitive. Cottle County comes in lower at $65,066 and Donley County at $107,131, but both score 68 overall versus Coke's 74 and lack the appreciation score that pushes Coke higher in the rankings. Andrews County at $244,485 and Callahan County at $220,841 both score 75, nearly identical to Coke's 74, but at meaningfully higher price points. The one neighbor with rent data is Wichita County: a median price of $163,787, median rent of $1,183, and a gross rent-to-price ratio of 8.67%, alongside an overall score of 68. If cash flow is your priority, Wichita County's rent data makes it a more underwriteable market despite the lower overall score, and $163,787 is not a dramatically higher purchase price than Coke's $156,223. Choose Coke over its neighbors only if you have a specific local knowledge edge, believe in the appreciation thesis, and can tolerate the illiquidity that comes with a 3,305-person county.