Grand Prairie, 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 2020. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

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

Grand Prairie, TX Housing Market Trends

With a population of 194,543, 60,988 total housing units (homes and apartments), and a median house value of $172,667, Grand Prairie real estate and house prices are near the national average for all cities and towns.

Single-family detached homes are the single most common housing type in Grand Prairie, accounting for 67.56% of the city's housing units. Other types of housing that are prevalent in Grand Prairie include large apartment complexes or high rise apartments ( 22.43%), duplexes, homes converted to apartments or other small apartment buildings ( 4.29%), and a few row houses and other attached homes ( 3.11%).

The most prevalent building size and type in Grand Prairie are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 62.55% owning and 37.45% renting.

There is a lot of housing in Grand Prairie 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 Grand Prairie built between 2000 and later ( 30.51%). A lesser amount of the housing stock also hails from between 1940-1969 ( 18.33%).

Grand Prairie Home Appreciation Rates

In the last 10 years, Grand Prairie has experienced some of the highest home appreciation rates of any community in the nation. Grand Prairie real estate appreciated 86.63% over the last ten years, which is an average annual home appreciation rate of 6.44%, putting Grand Prairie in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Grand Prairie 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, Grand Prairie appreciation rates have trailed the rest of the nation. In the last twelve months, Grand Prairie's appreciation rate has been 3.95%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Grand Prairie were at 1.66%, which equates to an annual appreciation rate of 6.81%.

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

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Grand Prairie differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Grand Prairie - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Grand Prairie real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$172,667

Grand Prairie, TX HOME PRICES

> $1,247,000
0.5%
0.5%
$935,001 - $1,247,000
0.4%
0.4%
$623,001 - $935,000
0.3%
0.3%
$499,001 - $623,000
1.0%
1.0%
$374,001 - $499,000
4.7%
4.7%
$249,001 - $374,000
19.8%
19.8%
$125,001 - $249,000
46.6%
46.6%
$62,001 - $125,000
21.2%
21.2%
$0 - $62,000
5.3%
5.3%
0.0% 100.0%
% OF HOMES
Value Relative To State

Average for Nation

Average for TX

Value Relative To Nation

Number Of Homes And Apartments:
60,988

Grand Prairie Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
TX*
Compared To
America*
Latest Quarter:
2020 Q3 - 2020 Q4
Last 12 Months:
2019 Q4 - 2020 Q4
Last 2 Years:
2018 Q4 - 2020 Q4
Last 5 Years:
2015 Q4 - 2020 Q4
Last 10 Years:
2010 Q4 - 2020 Q4
Since 2000:
2000 Q1 - 2020 Q4
97.38% 3.29%
4
8
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,531 / per month

Homeownership Rate

Owners
62.5%
62.5%
Renters
37.5%
37.5%
Vacant
6.9%
6.9%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
30.5%
30.5%
1970 - 1999
50.6%
50.6%
1940 - 1969
18.3%
18.3%
1939 or Older
0.6%
0.6%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
67.6%
67.6%
Townhomes
3.1%
3.1%
Small Apt. Buildings
4.3%
4.3%
Apt. Complexes
22.4%
22.4%
Mobile Homes
2.5%
2.5%
Other
0.2%
0.2%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
2.8%
2.8%
1 Bedroom
10.4%
10.4%
2 Bedrooms
18.8%
18.8%
3 Bedrooms
40.8%
40.8%
4 Bedrooms
22.1%
22.1%
5 or more bedrooms
5.0%
5.0%
0.0% 100.0%
% OF HOMES