Big Spring, TX
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Big Spring Neighborhoods Since 2000




Big Spring, 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 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

Big Spring Housing Market Information

With 28,862 people, 8,088 houses or apartments, and a median cost of homes of $72,179, house prices in Big Spring are some of the most affordable in Texas as well as the nation.

Single-family detached homes are the single most common housing type in Big Spring, accounting for 79.18% of the city's housing units. Other types of housing that are prevalent in Big Spring include large apartment complexes or high rise apartments ( 11.90%), duplexes, homes converted to apartments or other small apartment buildings ( 5.49%), and a few row houses and other attached homes ( 1.81%).

The most prevalent building size and type in Big Spring are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 48.17% owning and 51.83% 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. Big Spring's housing was primarily built during this period, from the '40s through the '60s. A full 65.06% of the city's housing hails from this era. Other housing ages represented in Big Spring include homes built between 1970-1999 ( 20.28%) and housing constructed before 1939 ( 10.27%). There's also some housing in Big Spring built between 2000 and later ( 4.39%).

Vacant housing appears to be an issue in Big Spring. Fully 15.00% of the housing stock is classified as vacant. Left unchecked, vacant Big Spring homes and apartments can be a drag on the real estate market, holding Big Spring 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.

Big Spring Home Appreciation Rates

In the last 10 years, Big Spring has experienced some of the highest home appreciation rates of any community in the nation. Big Spring real estate appreciated 49.58% over the last ten years, which is an average annual home appreciation rate of 4.11%, putting Big Spring in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Big Spring definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

Over the last year, Big Spring appreciation rates have trailed the rest of the nation. In the last twelve months, Big Spring's appreciation rate has been 0.03%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Big Spring were at 0.90%, which equates to an annual appreciation rate of 3.65%.

Relative to Texas, our data show that Big Spring'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 Big Spring differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Big Spring - 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 Big Spring real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$72,179

Big Spring, TX HOME PRICES

Value Range
> $1,194,000 0.3
$896,001 - $1,194,000 0.0
$597,001 - $896,000 0.4
$478,001 - $597,000 0.5
$358,001 - $478,000 0.8
$239,001 - $358,000 4.0
$120,001 - $239,000 18.4
$60,001 - $120,000 32.1
$0 - $60,000 43.6

Very Low for TX
Very Low for Nation

Value Relative to Nation Value Relative to State
94.7186603431114 89.591439688716

Number Of Homes And Apartments:
8,088

Big Spring Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
TX*
Compared To
America*
Latest Quarter:
2017 Q1 - 2017 Q2
Last 12 Months:
2016 Q2 - 2017 Q2
Last 2 Years:
2015 Q2 - 2017 Q2
Last 5 Years:
2012 Q2 - 2017 Q2
Last 10 Years:
2007 Q2 - 2017 Q2
Since 2000:
2000 Q1 - 2017 Q2
108.09% 4.28% 9 10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,158 / per month

Homeownership Rate

Homeownership
Owners 48.17
Renters 51.83
Vacant 15.00

Housing Market Details

 

Age of Homes

AGE OF Big Spring HOMES
2000 or Newer 4.4
1970 - 1999 20.3
1940 - 1969 65.1
1939 or Older 10.3

Types of Homes

TYPE OF Big Spring HOMES
Single-Family 79.2
Townhomes 1.8
Small Apt. Buildings 5.5
Apt. Complexes 11.9
Mobile Homes 1.6
Other 0.0

Home Size

SIZE OF Big Spring HOMES
No Bedroom 2.49
1 Bedroom 8.78
2 Bedrooms 34.26
3 Bedrooms 44.14
4 Bedrooms 9.40
5 or more bedrooms 0.94