Falfurrias, TX
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Falfurrias, 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

Falfurrias Housing Market Information

With 4,962 people, 1,353 houses or apartments, and a median cost of homes of $54,422, house prices in Falfurrias 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 Falfurrias, accounting for 81.69% of the city's housing units. Other types of housing that are prevalent in Falfurrias include mobile homes or trailers ( 7.27%), duplexes, homes converted to apartments or other small apartment buildings ( 5.52%), and a few large apartment complexes or high rise apartments ( 4.43%).

The most prevalent building size and type in Falfurrias are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 59.85% owning and 40.15% 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. Falfurrias's housing was primarily built during this period, from the '40s through the '60s. A full 62.30% of the city's housing hails from this era. Other housing ages represented in Falfurrias include homes built between 1970-1999 ( 20.77%) and housing constructed between 2000 and later ( 13.50%). There's also some housing in Falfurrias built before 1939 ( 3.44%).

Vacant housing appears to be an issue in Falfurrias. Fully 26.07% of the housing stock is classified as vacant. Left unchecked, vacant Falfurrias homes and apartments can be a drag on the real estate market, holding Falfurrias 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.

Falfurrias Home Appreciation Rates

In the last 10 years, Falfurrias has experienced some of the highest home appreciation rates of any community in the nation. Falfurrias real estate appreciated 21.50% over the last ten years, which is an average annual home appreciation rate of 1.97%, putting Falfurrias in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Falfurrias 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 Falfurrias that despite a nationwide downturn in the housing market, Falfurrias real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Falfurrias appreciation rates continue to be some of the highest in America, at 7.62%, which is higher than appreciation rates in 84.89% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Falfurrias. Falfurrias appreciation rates in the latest quarter were at 0.45%, which equates to an annual appreciation rate of 1.82%.

Relative to Texas, our data show that Falfurrias's latest annual appreciation rate is higher than 70% of the other cities and towns in Texas.

Average Home Values

 

Median Home Value:
$54,422

Falfurrias, TX HOME PRICES

Value Range
> $1,124,000 0.0
$842,001 - $1,124,000 0.0
$562,001 - $842,000 0.0
$449,001 - $562,000 0.0
$337,001 - $449,000 0.0
$225,001 - $337,000 2.9
$112,001 - $225,000 10.0
$56,001 - $112,000 33.8
$0 - $56,000 53.4

Very Low for TX
Very Low for Nation

Value Relative to Nation Value Relative to State
98.9159732802063 97.4708171206226

Number Of Homes And Apartments:
1,353

Falfurrias 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
77.18% 3.37% 6 9
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$763 / per month

Homeownership Rate

Homeownership
Owners 59.85
Renters 40.15
Vacant 26.07

Housing Market Details

 

Age of Homes

AGE OF Falfurrias HOMES
2000 or Newer 13.5
1970 - 1999 20.8
1940 - 1969 62.3
1939 or Older 3.4

Types of Homes

TYPE OF Falfurrias HOMES
Single-Family 81.7
Townhomes 1.1
Small Apt. Buildings 5.5
Apt. Complexes 4.4
Mobile Homes 7.3
Other 0.0

Home Size

SIZE OF Falfurrias HOMES
No Bedroom 2.57
1 Bedroom 7.05
2 Bedrooms 33.11
3 Bedrooms 49.67
4 Bedrooms 7.21
5 or more bedrooms 0.38

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Zip Codes in Falfurrias, TX