Gilmer, TX
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Gilmer, 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

Gilmer Housing Market Information

With a population of 5,187, 1,547 total housing units (homes and apartments), and a median house value of $91,167, house prices in Gilmer are solidly below the national average.

Single-family detached homes are the single most common housing type in Gilmer, accounting for 67.04% of the city's housing units. Other types of housing that are prevalent in Gilmer include duplexes, homes converted to apartments or other small apartment buildings ( 12.43%), large apartment complexes or high rise apartments ( 11.74%), and a few mobile homes or trailers ( 6.85%).

The most prevalent building size and type in Gilmer are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 60.15% owning and 39.85% renting.

There is a lot of housing in Gilmer 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 Gilmer built between 1940-1969 ( 38.23%). A lesser amount of the housing stock also hails from between 2000 and later ( 8.85%). There's also some housing in Gilmer built before 1939 ( 8.32%).

Vacant housing appears to be an issue in Gilmer. Fully 18.54% of the housing stock is classified as vacant. Left unchecked, vacant Gilmer homes and apartments can be a drag on the real estate market, holding Gilmer 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.

Gilmer Home Appreciation Rates

Appreciation rates for homes in Gilmer have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 8.30%, which ranks in the top 40% nationwide. This equates to an annual average Gilmer house appreciation rate of 0.80%.

Over the last year, Gilmer appreciation rates have trailed the rest of the nation. In the last twelve months, Gilmer's appreciation rate has been 0.26%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Gilmer were at -1.09%, which equates to an annual appreciation rate of -4.28%.

Notably, Gilmer's appreciation rate in the latest quarter is one of the lowest in America.

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

Average Home Values

 

Median Home Value:
$91,167

Gilmer, TX HOME PRICES

Value Range
> $1,022,000 0.1
$766,001 - $1,022,000 0.0
$511,001 - $766,000 0.3
$409,001 - $511,000 2.4
$307,001 - $409,000 1.3
$204,001 - $307,000 10.9
$102,001 - $204,000 29.4
$51,001 - $102,000 40.4
$0 - $51,000 15.2

Low for TX
Very Low for Nation

Value Relative to Nation Value Relative to State
83.2122348529239 71.9844357976654

Number Of Homes And Apartments:
1,547

Gilmer 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
58.66% 2.71% 3 7
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$978 / per month

Homeownership Rate

Homeownership
Owners 60.15
Renters 39.85
Vacant 18.54

Housing Market Details

 

Age of Homes

AGE OF Gilmer HOMES
2000 or Newer 8.8
1970 - 1999 44.6
1940 - 1969 38.2
1939 or Older 8.3

Types of Homes

TYPE OF Gilmer HOMES
Single-Family 67.0
Townhomes 1.9
Small Apt. Buildings 12.4
Apt. Complexes 11.7
Mobile Homes 6.8
Other 0.0

Home Size

SIZE OF Gilmer HOMES
No Bedroom 5.16
1 Bedroom 4.95
2 Bedrooms 25.38
3 Bedrooms 51.08
4 Bedrooms 11.59
5 or more bedrooms 1.84

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Zip Codes in Gilmer, TX