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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With a population of 201,234, 78,540 total housing units (homes and apartments), and a median house value of $168,053, 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 69.75% of the city's housing units. Other types of housing that are prevalent in Amarillo include large apartment complexes or high rise apartments ( 17.63%), duplexes, homes converted to apartments or other small apartment buildings ( 5.43%), and a few mobile homes or trailers ( 3.61%).
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 58.22% owning and 41.78% 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 41.15% of the city's housing hails from this era. Other housing ages represented in Amarillo include homes built between 1970-1999 ( 33.63%) and housing constructed between 2000 and later ( 18.95%). There's also some housing in Amarillo built before 1939 ( 6.28%).
Vacant housing appears to be an issue in Amarillo. Fully 10.12% 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.
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 4.98% during the period.
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 5.50%, 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 -0.34%, which equates to an annual appreciation rate of -1.35%.
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.
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