Elsa, TX
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Elsa Neighborhoods Since 2000




Elsa, 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 Q1 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

Elsa Housing Market Information

With 6,647 people, 1,942 houses or apartments, and a median cost of homes of $66,324, house prices in Elsa 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 Elsa, accounting for 80.23% of the city's housing units. Other types of housing that are prevalent in Elsa include duplexes, homes converted to apartments or other small apartment buildings ( 11.44%), mobile homes or trailers ( 5.01%), and a few large apartment complexes or high rise apartments ( 3.33%).

The most prevalent building size and type in Elsa are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 56.95% owning and 43.05% renting.

There is a lot of housing in Elsa 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 Elsa built between 2000 and later ( 18.82%). A lesser amount of the housing stock also hails from between 1940-1969 ( 16.13%). There's also some housing in Elsa built before 1939 ( 2.92%).

Vacant housing appears to be an issue in Elsa. Fully 11.53% of the housing stock is classified as vacant. Left unchecked, vacant Elsa homes and apartments can be a drag on the real estate market, holding Elsa 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.

Elsa Home Appreciation Rates

Appreciation rates for homes in Elsa have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 11.09%, which ranks in the top 30% nationwide. This equates to an annual average Elsa house appreciation rate of 1.06%.

NeighborhoodScout's data show that during the latest twelve months, Elsa's appreciation rate, at 5.09%, has been at or slightly above the national average. In the latest quarter, Elsa's appreciation rate has been -0.31%, which annualizes to a rate of -1.23%.

Relative to Texas, our data show that Elsa's latest annual appreciation rate is lower than 60% of the other cities and towns in Texas.

Average Home Values

 

Median Home Value:
$66,324

Elsa, TX HOME PRICES

Value Range
> $1,100,000 0.0
$825,001 - $1,100,000 0.0
$550,001 - $825,000 0.5
$440,001 - $550,000 0.0
$330,001 - $440,000 0.2
$220,001 - $330,000 0.6
$110,001 - $220,000 4.8
$55,001 - $110,000 51.3
$0 - $55,000 42.6

Very Low for TX
Very Low for Nation

Value Relative to Nation Value Relative to State
96.425641626626 92.5097276264592

Number Of Homes And Apartments:
1,942

Elsa Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
TX*
Compared To
America*
Latest Quarter:
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
Since 2000:
2000 Q1 - 2017 Q1
44.42% 2.15% 1 5
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$578 / per month

Homeownership Rate

Homeownership
Owners 56.95
Renters 43.05
Vacant 11.53

Housing Market Details

 

Age of Homes

AGE OF Elsa HOMES
2000 or Newer 18.8
1970 - 1999 62.1
1940 - 1969 16.1
1939 or Older 2.9

Types of Homes

TYPE OF Elsa HOMES
Single-Family 80.2
Townhomes 0.0
Small Apt. Buildings 11.4
Apt. Complexes 3.3
Mobile Homes 5.0
Other 0.0

Home Size

SIZE OF Elsa HOMES
No Bedroom 6.92
1 Bedroom 6.83
2 Bedrooms 23.83
3 Bedrooms 50.43
4 Bedrooms 10.57
5 or more bedrooms 1.41