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 a population of 2,483, 793 total housing units (homes and apartments), and a median house value of $404,578, Dripping Springs house prices are not only among the most expensive in Texas, Dripping Springs real estate also is some of the most expensive in all of America.
Single-family detached homes are the single most common housing type in Dripping Springs, accounting for 66.59% of the city's housing units. Other types of housing that are prevalent in Dripping Springs include mobile homes or trailers ( 20.57%), row houses and other attached homes ( 4.55%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 4.20%).
The most prevalent building size and type in Dripping Springs are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 63.48% owning and 36.52% renting.
There is a lot of housing in Dripping Springs 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 Dripping Springs built between 2000 and later ( 25.57%). A lesser amount of the housing stock also hails from between 1940-1969 ( 13.30%). There's also some housing in Dripping Springs built before 1939 ( 3.64%).
In the last 10 years, Dripping Springs has experienced some of the highest home appreciation rates of any community in the nation. Dripping Springs real estate appreciated 40.81% over the last ten years, which is an average annual home appreciation rate of 3.48%, putting Dripping Springs in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Dripping Springs definitely has a track record of being one of the best long term real estate investments in America through the last ten years.
Appreciation rates are so strong in Dripping Springs that despite a nationwide downturn in the housing market, Dripping Springs real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Dripping Springs appreciation rates continue to be some of the highest in America, at 7.94%, which is higher than appreciation rates in 86.48% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Dripping Springs. Dripping Springs appreciation rates in the latest quarter were at 1.68%, which equates to an annual appreciation rate of 6.88%.
Relative to Texas, our data show that Dripping Springs's latest annual appreciation rate is higher than 70% of the other cities and towns in Texas.
|$966,001 - $1,288,000||3.9|
|$644,001 - $966,000||9.0|
|$515,001 - $644,000||21.5|
|$386,001 - $515,000||20.5|
|$258,001 - $386,000||20.3|
|$129,001 - $258,000||13.5|
|$65,001 - $129,000||5.2|
|$0 - $65,000||4.1|
|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 Dripping Springs HOMES|
|2000 or Newer||25.6|
|1970 - 1999||57.5|
|1940 - 1969||13.3|
|1939 or Older||3.6|
|TYPE OF Dripping Springs HOMES|
|Small Apt. Buildings||4.2|
|SIZE OF Dripping Springs HOMES|
|5 or more bedrooms||4.55|