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 Q4 2020. 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

Amarillo, TX Housing Market Trends

With a population of 199,371, 76,319 total housing units (homes and apartments), and a median house value of $138,832, 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 71.01% of the city's housing units. Other types of housing that are prevalent in Amarillo include large apartment complexes or high rise apartments ( 16.75%), duplexes, homes converted to apartments or other small apartment buildings ( 5.15%), and a few mobile homes or trailers ( 3.82%).

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 59.89% owning and 40.11% 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 44.53% of the city's housing hails from this era. Other housing ages represented in Amarillo include homes built between 1970-1999 ( 33.31%) and housing constructed between 2000 and later ( 16.37%). There's also some housing in Amarillo built before 1939 ( 5.79%).

Vacant housing appears to be an issue in Amarillo. Fully 10.28% 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 31.91%, which ranks in the top 50% nationwide. This equates to an annual average Amarillo house appreciation rate of 2.81%.

Over the last year, Amarillo appreciation rates have trailed the rest of the nation. In the last twelve months, Amarillo's appreciation rate has been 3.43%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Amarillo were at 0.76%, which equates to an annual appreciation rate of 3.07%.

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 lower than 90% 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

 
info

Median Home Value:
$138,832

Amarillo, TX HOME PRICES

> $1,116,000
0.4%
0.4%
$837,001 - $1,116,000
0.5%
0.5%
$558,001 - $837,000
1.3%
1.3%
$447,001 - $558,000
1.1%
1.1%
$335,001 - $447,000
3.7%
3.7%
$223,001 - $335,000
11.8%
11.8%
$112,001 - $223,000
38.0%
38.0%
$56,001 - $112,000
31.2%
31.2%
$0 - $56,000
12.1%
12.1%
0.0% 100.0%
% OF HOMES
Value Relative To State

Low for Nation

Average for TX

Value Relative To Nation

Number Of Homes And Apartments:
76,319

Amarillo Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
TX*
Compared To
America*
Latest Quarter:
2020 Q3 - 2020 Q4
Last 12 Months:
2019 Q4 - 2020 Q4
Last 2 Years:
2018 Q4 - 2020 Q4
Last 5 Years:
2015 Q4 - 2020 Q4
Last 10 Years:
2010 Q4 - 2020 Q4
Since 2000:
2000 Q1 - 2020 Q4
71.71% 2.61%
1
5
* 10 is highest

Rent & Ownership

 
info

Average Market Rent:
$1,048 / per month

Homeownership Rate

Owners
59.9%
59.9%
Renters
40.1%
40.1%
Vacant
10.3%
10.3%
0.0% 100.0%
% OF HOMES

Housing Market Details

 
info

Age of Homes

2000 or Newer
16.4%
16.4%
1970 - 1999
33.3%
33.3%
1940 - 1969
44.5%
44.5%
1939 or Older
5.8%
5.8%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
71.0%
71.0%
Townhomes
3.2%
3.2%
Small Apt. Buildings
5.1%
5.1%
Apt. Complexes
16.8%
16.8%
Mobile Homes
3.8%
3.8%
Other
0.1%
0.1%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
2.4%
2.4%
1 Bedroom
13.1%
13.1%
2 Bedrooms
24.0%
24.0%
3 Bedrooms
47.3%
47.3%
4 Bedrooms
11.4%
11.4%
5 or more bedrooms
1.8%
1.8%
0.0% 100.0%
% OF HOMES