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
With 8,892 people, 2,712 houses or apartments, and a median cost of homes of $96,715, house prices in Commerce are solidly below the national average.
Single-family detached homes are the single most common housing type in Commerce, accounting for 48.06% of the city's housing units. Other types of housing that are prevalent in Commerce include large apartment complexes or high rise apartments ( 32.13%), duplexes, homes converted to apartments or other small apartment buildings ( 15.59%), and a few mobile homes or trailers ( 3.60%).
Commerce is dominated by renter-occupied one, two, or no bedrooms apartments. 66.77% of Commerce's dwellings are rentals.
There is a lot of housing in Commerce built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Commerce built between 1940-1969 ( 28.39%). A lesser amount of the housing stock also hails from between 2000 and later ( 17.11%). There's also some housing in Commerce built before 1939 ( 10.66%).
Vacant housing appears to be an issue in Commerce. Fully 23.69% of the housing stock is classified as vacant. Left unchecked, vacant Commerce homes and apartments can be a drag on the real estate market, holding Commerce 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.
Appreciation rates for homes in Commerce have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 5.55%, which ranks in the top 40% nationwide. This equates to an annual average Commerce house appreciation rate of 0.54%.
Appreciation rates are so strong in Commerce that despite a nationwide downturn in the housing market, Commerce real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Commerce appreciation rates continue to be some of the highest in America, at 9.59%, which is higher than appreciation rates in 92.63% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Commerce. Commerce appreciation rates in the latest quarter were at 2.35%, which equates to an annual appreciation rate of 9.75%.
Importantly, this makes Commerce one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.
Relative to Texas, our data show that Commerce's latest annual appreciation rate is higher than 80% of the other cities and towns in Texas.
|$915,001 - $1,220,000||0.0|
|$610,001 - $915,000||0.4|
|$488,001 - $610,000||0.1|
|$366,001 - $488,000||0.4|
|$244,001 - $366,000||3.5|
|$122,001 - $244,000||20.9|
|$61,001 - $122,000||37.8|
|$0 - $61,000||36.9|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
2000 Q1 - 2017 Q1
|* 10 is highest|
|AGE OF Commerce HOMES|
|2000 or Newer||17.1|
|1970 - 1999||43.8|
|1940 - 1969||28.4|
|1939 or Older||10.7|
|TYPE OF Commerce HOMES|
|Small Apt. Buildings||15.6|
|SIZE OF Commerce HOMES|
|5 or more bedrooms||1.04|