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Amarillo, 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 2022. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2020 (latest available). Updated annually.

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

Amarillo, TX Housing Market Trends

With a population of 200,393, 76,778 total housing units (homes and apartments), and a median house value of $169,459, 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 69.87% of the city's housing units. Other types of housing that are prevalent in Amarillo include large apartment complexes or high rise apartments ( 17.72%), duplexes, homes converted to apartments or other small apartment buildings ( 5.36%), and a few mobile homes or trailers ( 3.56%).

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 58.57% owning and 41.43% 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 43.29% of the city's housing hails from this era. Other housing ages represented in Amarillo include homes built between 1970-1999 ( 33.54%) and housing constructed between 2000 and later ( 17.05%). There's also some housing in Amarillo built before 1939 ( 6.12%).

Vacant housing appears to be an issue in Amarillo. Fully 10.62% 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

Real estate appreciation rates in Amarillo's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 4.97% during the period.

Appreciation rates are so strong in Amarillo that despite a nationwide downturn in the housing market, Amarillo real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Amarillo appreciation rates continue to be some of the highest in America, at 17.21%, which is higher than appreciation rates in 72.29% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Amarillo. Amarillo appreciation rates in the latest quarter were at 3.96%, which equates to an annual appreciation rate of 16.81%.

Relative to Texas, our data show that Amarillo's latest annual appreciation rate is lower than 80% 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:
$169,459

Amarillo, TX HOME PRICES

> $1,353,000
$1,014,001 - $1,353,000
$677,001 - $1,014,000
$541,001 - $677,000
$406,001 - $541,000
$271,001 - $406,000
$135,001 - $271,000
$68,001 - $135,000
$0 - $68,000
0.5%
0.5%
0.6%
0.6%
1.3%
1.3%
1.2%
1.2%
4.5%
4.5%
15.6%
15.6%
38.3%
38.3%
28.1%
28.1%
9.9%
9.9%
0.0% 100.0%
% OF HOMES
Value Relative To State

Low for Nation

Low for TX

Value Relative To Nation

Number Of Homes And Apartments:
76,778

Amarillo Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
TX*
Compared To
America*
Latest Quarter:
2022 Q1 - 2022 Q2
Last 12 Months:
2021 Q2 - 2022 Q2
Last 2 Years:
2020 Q2 - 2022 Q2
Last 5 Years:
2017 Q2 - 2022 Q2
Last 10 Years:
2012 Q2 - 2022 Q2
Since 2000:
2000 Q1 - 2022 Q2
113.40% 3.43%
1
6
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,275 / per month

Homeownership Rate

Owners
Renters
Vacant
58.6%
58.6%
41.4%
41.4%
10.6%
10.6%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
17.0%
17.0%
33.5%
33.5%
43.3%
43.3%
6.1%
6.1%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
69.9%
69.9%
3.4%
3.4%
5.4%
5.4%
17.7%
17.7%
3.6%
3.6%
0.1%
0.1%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
2.1%
2.1%
13.5%
13.5%
24.6%
24.6%
47.5%
47.5%
10.7%
10.7%
1.6%
1.6%
0.0% 100.0%
% OF HOMES