Addison, TX
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
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Highest Appreciating Addison Neighborhoods Since 2000




Addison, TX Real Estate Data

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 Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Addison Housing Market Information

With 15,518 people, 8,353 houses or apartments, and a median cost of homes of $350,878, Addison house prices are not only among the most expensive in Texas, Addison real estate also is some of the most expensive in all of America.

Large apartment complexes or high rise apartments are the single most common housing type in Addison, accounting for 68.49% of the town's housing units. Other types of housing that are prevalent in Addison include single-family detached homes ( 16.02%), row houses and other attached homes ( 7.88%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 7.34%). Towns with mostly row houses, apartments, and other high density housing types are relatively uncommon, and characteristic of compact towns that frequently have a downtown or other neighborhoods where amenities are within walking distance and a lot of street life can be seen.

Addison is dominated by renter-occupied one, two, or no bedrooms apartments. 78.40% 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 ( 30.09%). A lesser amount of the housing stock also hails from between 1940-1969 ( 4.88%).

Vacant housing appears to be an issue in Addison. Fully 10.27% 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

In the last 10 years, Addison has experienced some of the highest home appreciation rates of any community in the nation. Addison real estate appreciated 37.54% over the last ten years, which is an average annual home appreciation rate of 3.24%, putting Addison in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Addison definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

Appreciation rates are so strong in Addison that despite a nationwide downturn in the housing market, Addison real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Addison appreciation rates continue to be some of the highest in America, at 9.03%, which is higher than appreciation rates in 90.85% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Addison. Addison appreciation rates in the latest quarter were at 2.35%, which equates to an annual appreciation rate of 9.75%.

Importantly, this makes Addison one of the highest appreciating communities in the nation for the latest quarter, and may signal the town's near-future real estate investment strength.

Relative to Texas, our data show that Addison's latest annual appreciation rate is higher than 80% of the other cities and towns in Texas.

Average Home Values

 

Median Home Value:
$350,878

Addison, TX HOME PRICES

Value Range
> $1,276,000 0.8
$957,001 - $1,276,000 0.2
$638,001 - $957,000 1.8
$511,001 - $638,000 4.4
$383,001 - $511,000 24.0
$255,001 - $383,000 51.4
$128,001 - $255,000 12.7
$64,001 - $128,000 3.4
$0 - $64,000 1.3

Very High for TX
Very High for Nation

Value Relative to Nation Value Relative to State
12.1528184694715 4.96108949416342

Number Of Homes And Apartments:
8,353

Addison Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
TX*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
74.40% 3.28% 6 9
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,437 / per month

Homeownership Rate

Homeownership
Owners 21.60
Renters 78.40
Vacant 10.27

Housing Market Details

 

Age of Homes

AGE OF Addison HOMES
2000 or Newer 30.1
1970 - 1999 64.6
1940 - 1969 4.9
1939 or Older 0.4

Types of Homes

TYPE OF Addison HOMES
Single-Family 16.0
Townhomes 7.9
Small Apt. Buildings 7.3
Apt. Complexes 68.5
Mobile Homes 0.3
Other 0.0

Home Size

SIZE OF Addison HOMES
No Bedroom 6.97
1 Bedroom 42.61
2 Bedrooms 32.42
3 Bedrooms 15.92
4 Bedrooms 1.41
5 or more bedrooms 0.67