Canyon, Texas.
Typical home $299,520 (+3.3% in a year), asking rent $1,232 (+6.8%). Amarillo, TX metro.
to buy the typical home at today's mortgage rate — +$812 (+107%) since Jan 2020.
- 1 year
- Up $9,464 +3%
- $290,055$299,520 since Sep 2025
- 5 years
- Up $53,579 +22%
- $245,941$299,520 since Sep 2021
Monthly payment to buy the typical home
Home value × that month's 30-year mortgage rate, 20% down, principal and interest. This is the line households feel: prices and rates compound each other.
- Canyon$1,572
- Texas$1,556
- United States$1,922
At the last five years' pace, a typical home here doubles in price every 18 years.
Typical home values in Canyon, TX rose 3.3% over the past year — faster than the nation's +1.2%.
Asking rents in Canyon, TX rose 6.8% over the past year — faster than the nation's +2.7%.
Owning the typical home in Canyon runs $1,038/mo more than renting one. The gap peaked at $1,133 in Oct 2023.
That is $2,270 a month against $1,232 rent: a $1,572 mortgage payment, plus $377 property tax and $321 insurance & upkeep.
Owning vs renting — Canyon
The owning line is the typical home's monthly payment at that month's rate, plus property tax and insurance & upkeep; the renting line is the typical asking rent; the grey line is the mortgage payment on its own. Same homes, same months, both ways of paying for a roof.
- Owning all in$2,270
- Renting$1,232
- Mortgage only$1,572
Property tax · $377/mo 1.51% of value a year — the ACS 2020-2024 median bill over the median home value for Randall County, TX
Insurance & upkeep · $321/mo insurance, maintenance and repairs together, from the BLS Consumer Expenditure Survey — the national figure for mortgaged homeowners, scaled to this market's home value. BLS publishes the three bundled and they cannot be split.
Both are priced off the same month's home value, so they rise with the market. Neither is a quote — a specific home's bill depends on its assessment, its age and its insurer.
Living in Canyon, Randall County, Texas
Canyon is a city of 14,836 people in Randall County. Half its households earn more than $69,772 a year and half less, against $83,864 across Randall County; 13% of its people live below the poverty line. 54% of its homes are lived in by their owners and 46% are rented. Unemployment in Randall County was 3.3% in August 2026, and the county had 0.6% more jobs in 2025 than the year before. The most residents work in schools and health care, then shops.
Written by AI Claude Sonnet 5.5 wrote this on 23 October 2026 from the figures here, a list of nearby places and what it knows. It can be wrong or out of date.
What it’s like
The place. Canyon is a small city in Randall County with a young population, and its residents are younger than in most American towns. Household incomes sit below the county's, and owners and renters live in the city in close to equal numbers, so renters make up a large part of the community. Many adults hold a four-year degree. Winters are cold but not severe, summers are hot, and the town sees some snow and little rain through the year.
Work. Residents work mostly in schools, hospitals and social care, in shops, in restaurants, hotels and entertainment, and in professional and business services. Among the largest workplaces in Canyon are Canyon ISD, West Texas A & M University and United Supermarkets. Unemployment across Randall County is low and unchanged from a year earlier, and the county added a small number of jobs last year. Most people reach work in a fairly short drive, and few work from home.
Things to do. In or beside town, the Panhandle–Plains Historical Museum is a museum worth an afternoon, and Tierra Blanca Creek is a river that runs through the area. A longer drive away is Palo Duro State Park, a protected area, and the American Quarter Horse Hall of Fame, a museum. Buffalo Lake National Wildlife Refuge, also a protected area, is another longer drive away.
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- 5,619households
- 45%of adults have a degree
- 13%below the poverty line
- 23 mintypical commute
- 6%work from home
What residents work in
Employed residents by industry, from the Census survey. Randall County had 37,224 jobs in 2025, 0.6% more than the year before (Bureau of Labor Statistics).
Weather through the year
Coldest in December, with highs near 52° and lows near 24°; warmest in July, with highs near 93° and lows near 67°. About 8 inches of snow and 18 inches of rain and melted snow a year.
Average daily high and low, 1991–2020, at the Canyon weather station, under a mile away (NOAA).
Largest workplaces in Canyon
- Canyon ISDSchool district1,456FTE
- West Texas A & M UniversityUniversity or college916
- United SupermarketsSupermarket183
- CanyonMail and parcel delivery30
- Xcel EnergyElectric power distribution28
Staff on average in 2025, as each workplace reported it to OSHA with its injury records: 3 workplaces with 20 or more staff, 241 people in all. School districts come from the Common Core of Data (NCES, 2023–24) and colleges from IPEDS (NCES, 2023–24); FTE marks full-time equivalent staff. Not listed: many offices and banks, which need not report to OSHA; military bases, whose staff OPM withholds; and, in about half the states, city and county governments.
Natural hazards
- Winter weatherVery high
- HailRelatively high
- TornadoesRelatively high
- Strong windRelatively high
- WildfireRelatively moderate
- Cold wavesrelatively high in parts of CanyonRelatively moderate
FEMA’s National Risk Index (December 2025) rates the risk each natural hazard poses to the people, buildings and farms in Canyon’s census tracts, against the rest of the country; all of them together, relatively low. It is meant for planning, not a substitute for a local risk assessment or a flood map: FEMA’s index.
From the U.S. Census Bureau’s 2020 census and its American Community Survey (2020–2024 five-year estimates), and the Bureau of Labor Statistics. A survey, so each figure has a margin of error, and figures it is not sure of are left out. More on Randall County and the Amarillo, TX metro.
Canyon home values
Zillow measures a city over its municipal boundary. Against the state and national figures, mid-tier homes, smoothed and seasonally adjusted.
- Canyon$299,520
- Texas$296,424
- United States$366,157
Levy by levy, and a check of one home’s own bill, the site covers Ohio’s property tax.
Sellers are cutting prices on about 1 in 4 Canyon listings, and the typical home goes pending in 23 days — the market is roughly in balance.
When this market ran hot
Each cell is that month's year-on-year home-value growth. Read left to right, top row is the latest year — the 2021–22 band is the boom.
Market heat, inside the city limits
Share of listings with a price cut
The early-warning dial: sellers cut when buyers stop reaching. Rising cuts cool a market months before prices notice.
- Canyon27.97%
- United States26.90%
Days to pending
How long the typical listing takes to go under contract.
- Canyon23
- United States27
Homes for sale
Active for-sale inventory. More supply hands power to buyers.
- Canyon114
New listings per month
Sellers arriving at the market.
- Canyon34
Median sale price
What buyers actually paid — closed sales, not asking prices.
- Canyon$325,673
- United States$371,407
Sale-to-list ratio
Above 100%, homes sell over asking; below, buyers negotiate wins.
- Canyon97.78%
Zip codes with a Canyon address
A different geography, not a breakdown. The figure above covers the municipality; these zips cover everywhere the Post Office calls Canyon — often including townships beyond the city limits. Both come straight from Zillow, and they are not expected to average out.