Edinburg appreciation rates and housing market information

Edinburg housing market information

With 48,863 people, 15,951 houses or apartments, and a median cost of homes of $91,516, the cost of homes in Edinburg is among some of the lowest in the nation. Compared to Texas, however, Edinburg real estate is not on the lower end of the price spectrum.

single-family detached homes are the single most common housing type in Edinburg, accounting for 61.08% of the city's housing units. Other types of housing that are prevalent in Edinburg include large apartment complexes or high rise apartments (13.17%), mobile homes or trailers (12.65%), duplexes, homes converted to apartments, or other small apartment buildings (9.10%), and a few row houses and other attached homes (3.25%).

The most prevalent building size and type in Edinburg are three and four bedroom single-family detached homes. The city has a mixture of owners and renters, with 55.75% owning, and 33.77% renting.

There is a lot of housing in Edinburg built from 1970-1994, so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Edinburg built from 1995 and later (24.50%). A lesser amount of the housing stock also hails from 1940-1969 (18.88%), and some were built from 1939 and earlier (18.88%).

Vacant housing appears to be an issue in Edinburg. Fully 10.48% of the housing stock is classified as vacant. Left unchecked, vacant Edinburg homes and apartments can be a drag on the real estate market, holding Edinburg real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Edinburg home appreciation rates

Edinburg's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Edinburg during the period has been just 5.74%, which is lower than % of US communities.

Appreciation rates are so strong in Edinburg that despite a nationwide downturn in the housing market, Edinburg real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Edinburg appreciation rates continue to be some of the highest in America, at 2.94%, which is higher than appreciation rates in 74% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Edinburg. Edinburg appreciation rates in the latest quarter were at 2.66%, which equates to an annual appreciation rate of 10.64%.

Importantly, this makes Edinburg one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.

Relative to Texas, our data show that Edinburg's latest annual appreciation rate is higher than 39% of the other cities and towns in Texas.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Edinburg differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Edinburg - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 1990, to assist you in making the best Edinburg real estate investment or home purchase decisions.