This study explores the impacts of the income and demographic factors on housing prices. For this purpose, we used hedonic price model. The data of 8 urban areas of Province Punjab, Pakistan from PSLM/HIES survey of 2005-2006 and 2015-2016. Four regressions are estimated for both selected years for the purpose of comparison of both selected time periods. The results of our study tell us that though income is the major determinant but not the only determinant of the housing prices. There are other eterminants of the housing prices that are significant education level, employment status, electricity, gas, school distance, hospital distance, source of drinking water and drainage facility. Results suggest that government should focus on providing schools and hospital close to housing units and focus on the provision of clean water for drinking and better drainage facility. This comparison will help to design the appropriate policies according to the current state of housing market. Supervisor:- Dr. Ayaz Ahmad