Pharr appreciation rates and housing market information

Pharr housing market information

With 46,616 people, 16,591 houses or apartments, and a median cost of homes of $63,874, house prices in Pharr are some of the most affordable in Texas as well as the nation.

single-family detached homes are the single most common housing type in Pharr, accounting for 53.62% of the city's housing units. Other types of housing that are prevalent in Pharr include mobile homes or trailers (29.38%), large apartment complexes or high rise apartments (5.98%), row houses and other attached homes (3.53%), and a few duplexes, homes converted to apartments, or other small apartment buildings (3.12%).

Dwellings in Pharr tend to be quite small (one, two, or no bedrooms) and owner-occupied. In fact, 59.57% of the homes in Pharr have two or fewer bedrooms.

There is a lot of housing in Pharr 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 Pharr built from 1995 and later (21.30%). A lesser amount of the housing stock also hails from 1940-1969 (16.92%), and some were built from 1939 and earlier (16.92%).

Pharr home appreciation rates

Real estate appreciation rates in Pharr have tracked to near the national average over the last ten years, with the annual appreciation rate averaging 7.11% during the period.

Appreciation rates are so strong in Pharr that despite a nationwide downturn in the housing market, Pharr real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Pharr appreciation rates continue to be some of the highest in America, at 4.30%, which is higher than appreciation rates in 86% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Pharr. Pharr appreciation rates in the latest quarter were at 3.00%, which equates to an annual appreciation rate of 12.00%.

Importantly, this makes Pharr 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 Pharr's latest annual appreciation rate is higher than 63% 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 Pharr differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Pharr - 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 Pharr real estate investment or home purchase decisions.