University Park appreciation rates and housing market information

University Park housing market information

With 23,343 people, 8,501 houses or apartments, and a median cost of homes of $817,095, University Park house prices are not only among the most expensive in Texas, University Park real estate also is some of the most expensive in all of America.

single-family detached homes are the single most common housing type in University Park, accounting for 63.65% of the city's housing units. Other types of housing that are prevalent in University Park include duplexes, homes converted to apartments, or other small apartment buildings (15.66%), large apartment complexes or high rise apartments (13.17%), and a few row houses and other attached homes (7.23%).

Owner-occupied, three and four bedroom single-family detached homes are the most prevalent type of housing you will see in University Park. Owner-occupied housing accounts for 64.90% of University Park's homes, and 54.61% have either three or four bedrooms, which is average sized relative to America.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. University Park's housing was primarily built during this period, from the '40s through the '60s. A full 42.89% of the city's housing hails from this era. Other housing ages represented in University Park include homes built between 1939 and earlier (27.55%), and housing constructed from 1970-1994 (20.96%). There's also some housing in University Park built between 1995 and later (8.60%).

University Park home appreciation rates

Appreciation rates for homes in University Park have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 95.99%, which ranks in the top 30% nationwide. This equates to an annual average University Park house appreciation rate of 9.59%.

Appreciation rates are so strong in University Park that despite a nationwide downturn in the housing market, University Park real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, University Park appreciation rates continue to be some of the highest in America, at 7.18%, which is higher than appreciation rates in 96% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in University Park. University Park appreciation rates in the latest quarter were at 1.90%, which equates to an annual appreciation rate of 7.60%.

Importantly, this makes University Park 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 University Park's latest annual appreciation rate is higher than 91% 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 University Park differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in University Park - 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 University Park real estate investment or home purchase decisions.