Weslaco appreciation rates and housing market information

Weslaco housing market information

With a population of 26,802, 10,207 total housing units (homes and apartments), and a median house value of $72,561, house prices in Weslaco 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 Weslaco, accounting for 51.94% of the city's housing units. Other types of housing that are prevalent in Weslaco include mobile homes or trailers (21.60%), large apartment complexes or high rise apartments (13.03%), duplexes, homes converted to apartments, or other small apartment buildings (7.69%), and a few row houses and other attached homes (2.82%).

Dwellings in Weslaco tend to be quite small (one, two, or no bedrooms) and owner-occupied. In fact, 61.15% of the homes in Weslaco have two or fewer bedrooms.

There is a lot of housing in Weslaco 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 Weslaco built from 1940-1969 (29.78%). A lesser amount of the housing stock also hails from 1995 and later (14.28%), and some were built from 1939 and earlier (14.28%).

Vacant housing appears to be an issue in Weslaco. Fully 19.69% of the housing stock is classified as vacant. Left unchecked, vacant Weslaco homes and apartments can be a drag on the real estate market, holding Weslaco 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.

Weslaco home appreciation rates

Real estate appreciation rates in Weslaco have tracked to near the national average over the last ten years, with the annual appreciation rate averaging 6.38% during the period.

Appreciation rates are so strong in Weslaco that despite a nationwide downturn in the housing market, Weslaco real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Weslaco appreciation rates continue to be some of the highest in America, at 3.57%, which is higher than appreciation rates in 80% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Weslaco. Weslaco appreciation rates in the latest quarter were at 2.81%, which equates to an annual appreciation rate of 11.24%.

Importantly, this makes Weslaco 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 Weslaco's latest annual appreciation rate is higher than 51% 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 Weslaco differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Weslaco - 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 Weslaco real estate investment or home purchase decisions.