Addison, TX Real Estate Market

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q2 2021. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Addison, TX Housing Market Trends

With a population of 16,263, 8,279 total housing units (homes and apartments), and a median house value of $357,575, Addison real estate is some of the most expensive in Texas, although Addison home values aren't among America's most expensive.

Large apartment complexes or high rise apartments are the single most common housing type in Addison, accounting for 72.21% of the town's housing units. Other types of housing that are prevalent in Addison include single-family detached homes ( 12.34%), row houses and other attached homes ( 8.41%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 7.04%). This particular housing mix is relatively uncommon and characteristic of towns that are compact and walkable, and which often have a lively downtown.

Addison is dominated by renter-occupied one, two, or no bedrooms apartments. 80.36% of Addison's dwellings are rentals.

There is a lot of housing in Addison built from 1970 to 1999 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 Addison built between 2000 and later ( 35.05%). A lesser amount of the housing stock also hails from between 1940-1969 ( 2.91%).

Vacant housing appears to be an issue in Addison. Fully 12.71% of the housing stock is classified as vacant. Left unchecked, vacant Addison homes and apartments can be a drag on the real estate market, holding Addison 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.

Addison Home Appreciation Rates

Appreciation rates for homes in Addison have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 62.97%, which ranks in the top 30% nationwide. This equates to an annual average Addison house appreciation rate of 5.01%.

Over the last year, Addison appreciation rates have trailed the rest of the nation. In the last twelve months, Addison's appreciation rate has been 8.03%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Addison were at 2.78%, which equates to an annual appreciation rate of 11.59%.

Relative to Texas, our data show that Addison's latest annual appreciation rate is lower than 70% of the other cities and towns in Texas.

Average Home Values

 

Median Home Value:
$357,575

Addison, TX HOME PRICES

> $1,184,000
0.7%
0.7%
$887,001 - $1,184,000
0.2%
0.2%
$592,001 - $887,000
1.4%
1.4%
$473,001 - $592,000
8.9%
8.9%
$355,001 - $473,000
48.9%
48.9%
$237,001 - $355,000
18.9%
18.9%
$118,001 - $237,000
16.9%
16.9%
$60,001 - $118,000
1.2%
1.2%
$0 - $60,000
2.9%
2.9%
0.0% 100.0%
% OF HOMES
Value Relative To State

Very High for Nation

Very High for TX

Value Relative To Nation

Number Of Homes And Apartments:
8,279

Addison Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
TX*
Compared To
America*
Latest Quarter:
2021 Q1 - 2021 Q2
Last 12 Months:
2020 Q2 - 2021 Q2
Last 2 Years:
2019 Q2 - 2021 Q2
Last 5 Years:
2016 Q2 - 2021 Q2
Last 10 Years:
2011 Q2 - 2021 Q2
Since 2000:
2000 Q1 - 2021 Q2
102.18% 3.33%
3
7
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,971 / per month

Homeownership Rate

Owners
19.6%
19.6%
Renters
80.4%
80.4%
Vacant
12.7%
12.7%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
35.0%
35.0%
1970 - 1999
61.6%
61.6%
1940 - 1969
2.9%
2.9%
1939 or Older
0.4%
0.4%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
12.3%
12.3%
Townhomes
8.4%
8.4%
Small Apt. Buildings
7.0%
7.0%
Apt. Complexes
72.2%
72.2%
Mobile Homes
0.0%
0.0%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
8.4%
8.4%
1 Bedroom
42.7%
42.7%
2 Bedrooms
33.6%
33.6%
3 Bedrooms
13.2%
13.2%
4 Bedrooms
1.6%
1.6%
5 or more bedrooms
0.6%
0.6%
0.0% 100.0%
% OF HOMES