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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Forest Hill, TX Real Estate Market

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 Q4 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Forest Hill, TX Housing Market Trends

With 13,701 people, 4,123 houses or apartments, and a median cost of homes of $199,234, house prices in Forest Hill are solidly below the national average.

Single-family detached homes are the single most common housing type in Forest Hill, accounting for 93.15% of the city's housing units. Other types of housing that are prevalent in Forest Hill include row houses and other attached homes ( 2.03%), large apartment complexes or high rise apartments ( 1.94%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 1.71%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Forest Hill. Owner-occupied housing accounts for 70.09% of Forest Hill's homes, and 89.02% have either three or four bedrooms, which is average sized relative to America.

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. Forest Hill's housing was primarily built during this period, from the '40s through the '60s. A full 42.93% of the city's housing hails from this era. Other housing ages represented in Forest Hill include homes built between 1970-1999 ( 33.50%) and housing constructed between 2000 and later ( 20.05%). There's also some housing in Forest Hill built before 1939 ( 3.52%).

Forest Hill Home Appreciation Rates

In the last 10 years, Forest Hill has experienced some of the highest home appreciation rates of any community in the nation. Forest Hill real estate appreciated 148.13% over the last ten years, which is an average annual home appreciation rate of 9.51%, putting Forest Hill in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Forest Hill definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

Over the last year, Forest Hill appreciation rates have trailed the rest of the nation. In the last twelve months, Forest Hill's appreciation rate has been 1.07%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Forest Hill were at -0.34%, which equates to an annual appreciation rate of -1.36%.

Relative to Texas, our data show that Forest Hill's latest annual appreciation rate is lower than 90% of the other cities and towns in Texas.

Average Home Values

Median Home Value

$199,234

Forest Hill, TX Home Prices
> $1,289,000
$966,001 - $1,289,000
$644,001 - $966,000
$516,001 - $644,000
$387,001 - $516,000
$258,001 - $387,000
$129,001 - $258,000
$64,001 - $129,000
$0 - $64,000
0.0%
0.0%
0.9%
0.9%
0.2%
0.2%
0.5%
0.5%
5.2%
5.2%
22.2%
22.2%
53.2%
53.2%
13.7%
13.7%
4.1%
4.1%
0% 100.0%
% of Homes
Average

for Texas

Low

for nation

Number of Homes And Apartments:

4,123

Forest Hill Appreciation Rates

Rent & Ownership

Average Market Rent:

$2,272 / per month

Homeownership Rate

Owners
Renters
70.1%
70.1%
29.9%
29.9%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
5.8%
5.8%
94.2%
94.2%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
20.1%
20.1%
33.5%
33.5%
42.9%
42.9%
3.5%
3.5%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
93.1%
93.1%
2.0%
2.0%
1.7%
1.7%
1.9%
1.9%
1.2%
1.2%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
1.4%
1.4%
1.3%
1.3%
7.1%
7.1%
65.1%
65.1%
23.9%
23.9%
1.2%
1.2%
0% 100.0%
% of Homes