Elsa, TX
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
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Highest Appreciating Elsa Neighborhoods Since 2000




Elsa, TX Real Estate Data


Elsa Housing Market Information

With 6,647 people, 1,942 houses or apartments, and a median cost of homes of $66,516, 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 10.29%, which ranks in the top 30% nationwide. This equates to an annual average Elsa house appreciation rate of 0.98%.

Appreciation rates are so strong in Elsa that despite a nationwide downturn in the housing market, Elsa real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Elsa appreciation rates continue to be some of the highest in America, at 5.98%, which is higher than appreciation rates in 72.81% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Elsa. Elsa appreciation rates in the latest quarter were at 3.33%, which equates to an annual appreciation rate of 14.01%.

Importantly, this makes Elsa 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 Elsa's latest annual appreciation rate is higher than 60% of the other cities and towns in Texas.

Average Home Values

 

Median Home Value:
$66,516

Elsa, TX HOME PRICES

Value Range
> $1,103,000 0.0
$827,001 - $1,103,000 0.0
$552,001 - $827,000 0.5
$441,001 - $552,000 0.0
$331,001 - $441,000 0.2
$220,001 - $331,000 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
96.3553263799367 92.5097276264592

Number Of Homes And Apartments:
1,942

Rent & Ownership

 

Average Market Rent:
$549 / 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

Elsa Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
TX*
Compared To
America*
Latest Quarter:
2016 Q3 - 2016 Q4
Last 12 Months:
2015 Q4 - 2016 Q4
Last 2 Years:
2014 Q4 - 2016 Q4
Last 5 Years:
2011 Q4 - 2016 Q4
Last 10 Years:
2006 Q4 - 2016 Q4
Since 2000:
2000 Q1 - 2016 Q4
44.76% 2.17% 2 5
* 10 is highest