George West, TX
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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George West, 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

George West Housing Market Information

With a population of 2,631, 604 total housing units (homes and apartments), and a median house value of $88,485, house prices in George West are solidly below the national average.

Single-family detached homes are the single most common housing type in George West, accounting for 73.82% of the city's housing units. Other types of housing that are prevalent in George West include mobile homes or trailers ( 19.15%), duplexes, homes converted to apartments or other small apartment buildings ( 7.03%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in George West. Owner-occupied housing accounts for 67.31% of George West's homes, and 60.61% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in George West 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 George West built between 1940-1969 ( 35.52%). A lesser amount of the housing stock also hails from between 2000 and later ( 5.94%).

Vacant housing appears to be an issue in George West. Fully 26.79% of the housing stock is classified as vacant. Left unchecked, vacant George West homes and apartments can be a drag on the real estate market, holding George West 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.

George West Home Appreciation Rates

In the last 10 years, George West has experienced some of the highest home appreciation rates of any community in the nation. George West real estate appreciated 26.41% over the last ten years, which is an average annual home appreciation rate of 2.37%, putting George West in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, George West definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

NeighborhoodScout's data show that during the latest twelve months, George West's appreciation rate, at 5.37%, has been at or slightly above the national average. In the latest quarter, George West's appreciation rate has been 0.45%, which annualizes to a rate of 1.82%.

Relative to Texas, our data show that George West's latest annual appreciation rate is lower than 50% of the other cities and towns in Texas.

Average Home Values

 

Median Home Value:
$88,485

George West, TX HOME PRICES

Value Range
> $1,131,000 0.3
$849,001 - $1,131,000 0.0
$566,001 - $849,000 0.2
$453,001 - $566,000 0.7
$339,001 - $453,000 0.5
$226,001 - $339,000 5.3
$113,001 - $226,000 28.5
$57,001 - $113,000 40.9
$0 - $57,000 23.6

Low for TX
Very Low for Nation

Value Relative to Nation Value Relative to State
85.1107465135357 75.4863813229572

Number Of Homes And Apartments:
604

George West 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
73.80% 3.26% 6 9
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,052 / per month

Homeownership Rate

Homeownership
Owners 67.31
Renters 32.69
Vacant 26.79

Housing Market Details

 

Age of Homes

AGE OF George West HOMES
2000 or Newer 5.9
1970 - 1999 57.8
1940 - 1969 35.5
1939 or Older 0.7

Types of Homes

TYPE OF George West HOMES
Single-Family 73.8
Townhomes 0.0
Small Apt. Buildings 7.0
Apt. Complexes 0.0
Mobile Homes 19.2
Other 0.0

Home Size

SIZE OF George West HOMES
No Bedroom 3.88
1 Bedroom 4.36
2 Bedrooms 27.27
3 Bedrooms 48.24
4 Bedrooms 12.36
5 or more bedrooms 3.88

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Zip Codes in George West, TX