Amarillo TX
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA



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Amarillo, 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 Q2 2020. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2018 (latest available). Updated annually.

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

Amarillo Housing Market Information

With 199,924 people, 75,563 houses or apartments, and a median cost of homes of $137,946, house prices in Amarillo are solidly below the national average.

Single-family detached homes are the single most common housing type in Amarillo, accounting for 71.28% of the city's housing units. Other types of housing that are prevalent in Amarillo include large apartment complexes or high rise apartments ( 16.91%), duplexes, homes converted to apartments or other small apartment buildings ( 5.09%), and a few mobile homes or trailers ( 3.68%).

The most prevalent building size and type in Amarillo are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 59.59% owning and 40.41% renting.

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. Amarillo's housing was primarily built during this period, from the '40s through the '60s. A full 43.56% of the city's housing hails from this era. Other housing ages represented in Amarillo include homes built between 1970-1999 ( 34.33%) and housing constructed between 2000 and later ( 15.68%). There's also some housing in Amarillo built before 1939 ( 6.43%).

Vacant housing appears to be an issue in Amarillo. Fully 10.39% of the housing stock is classified as vacant. Left unchecked, vacant Amarillo homes and apartments can be a drag on the real estate market, holding Amarillo 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.

Amarillo Home Appreciation Rates

Appreciation rates for homes in Amarillo have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 30.55%, which ranks in the top 50% nationwide. This equates to an annual average Amarillo house appreciation rate of 2.70%.

NeighborhoodScout's data show that during the latest twelve months, Amarillo's appreciation rate, at 4.93%, has been at or slightly above the national average. In the latest quarter, Amarillo's appreciation rate has been 0.10%, which annualizes to a rate of 0.38%.

Notably, Amarillo's appreciation rate in the latest quarter is one of the lowest in America.

Relative to Texas, our data show that Amarillo's latest annual appreciation rate is higher than 50% 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 Amarillo differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Amarillo - 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 2000, to assist you in making the best Amarillo real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$137,946

Amarillo, TX HOME PRICES

Value Range
> $1,141,000 0.4
$855,001 - $1,141,000 0.5
$570,001 - $855,000 1.1
$456,001 - $570,000 1.1
$342,001 - $456,000 3.6
$228,001 - $342,000 10.5
$114,001 - $228,000 38.7
$57,001 - $114,000 31.6
$0 - $57,000 12.6

Average for TX
Low for Nation

Value Relative to Nation Value Relative to State
66.814598540146 54.7041707080504

Number Of Homes And Apartments:
75,563

Amarillo Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
TX*
Compared To
America*
Latest Quarter:
2020 Q1 - 2020 Q2
Last 12 Months:
2019 Q2 - 2020 Q2
Last 2 Years:
2018 Q2 - 2020 Q2
Last 5 Years:
2015 Q2 - 2020 Q2
Last 10 Years:
2010 Q2 - 2020 Q2
Since 2000:
2000 Q1 - 2020 Q2
70.91% 2.65%
1
6
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,041 / per month

Homeownership Rate

Homeownership
Owners 59.59
Renters 40.41
Vacant 10.39

Housing Market Details

 

Age of Homes

AGE OF Amarillo HOMES
2000 or Newer 15.7
1970 - 1999 34.3
1940 - 1969 43.6
1939 or Older 6.4

Types of Homes

TYPE OF Amarillo HOMES
Single-Family 71.3
Townhomes 3.0
Small Apt. Buildings 5.1
Apt. Complexes 16.9
Mobile Homes 3.7
Other 0.1

Home Size

SIZE OF Amarillo HOMES
No Bedroom 2.39
1 Bedroom 13.16
2 Bedrooms 24.91
3 Bedrooms 46.18
4 Bedrooms 11.68
5 or more bedrooms 1.68