Mission appreciation rates and housing market information

Mission housing market information

With a population of 45,920, 17,716 total housing units (homes and apartments), and a median house value of $89,838, the cost of homes in Mission is among some of the lowest in the nation. Compared to Texas, however, Mission real estate is not on the lower end of the price spectrum.

single-family detached homes are the single most common housing type in Mission, accounting for 61.91% of the city's housing units. Other types of housing that are prevalent in Mission include mobile homes or trailers (21.81%), duplexes, homes converted to apartments, or other small apartment buildings (6.59%), large apartment complexes or high rise apartments (5.33%), and a few row houses and other attached homes (3.00%).

Dwellings in Mission tend to be quite small (one, two, or no bedrooms) and owner-occupied. In fact, 53.12% of the homes in Mission have two or fewer bedrooms.

There is a lot of housing in Mission 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 Mission built from 1995 and later (27.47%). A lesser amount of the housing stock also hails from 1940-1969 (14.32%), and some were built from 1939 and earlier (14.32%).

Mission home appreciation rates

Real estate appreciation rates in Mission have tracked to near the national average over the last ten years, with the annual appreciation rate averaging 7.54% during the period.

Appreciation rates are so strong in Mission that despite a nationwide downturn in the housing market, Mission real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Mission appreciation rates continue to be some of the highest in America, at 4.74%, which is higher than appreciation rates in 88% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Mission. Mission appreciation rates in the latest quarter were at 3.11%, which equates to an annual appreciation rate of 12.44%.

Importantly, this makes Mission 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 Mission's latest annual appreciation rate is higher than 69% 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 Mission differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Mission - 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 Mission real estate investment or home purchase decisions.