Grand Prairie, TX
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
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Highest Appreciating Grand Prairie Neighborhoods Since 2000




Grand Prairie, 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

Grand Prairie Housing Market Information

With a population of 187,766, 59,196 total housing units (homes and apartments), and a median house value of $158,904, 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 66.97% of the city's housing units. Other types of housing that are prevalent in Grand Prairie include large apartment complexes or high rise apartments ( 22.24%), duplexes, homes converted to apartments or other small apartment buildings ( 4.69%), and a few row houses and other attached homes ( 3.19%).

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 61.66% owning and 38.34% 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 ( 30.09%). A lesser amount of the housing stock also hails from between 1940-1969 ( 20.16%).

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 28.68% over the last ten years, which is an average annual home appreciation rate of 2.55%, 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.

Appreciation rates are so strong in Grand Prairie that despite a nationwide downturn in the housing market, Grand Prairie real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Grand Prairie appreciation rates continue to be some of the highest in America, at 9.86%, which is higher than appreciation rates in 93.52% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Grand Prairie. Grand Prairie appreciation rates in the latest quarter were at 2.35%, which equates to an annual appreciation rate of 9.75%.

Importantly, this makes Grand Prairie one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.

Relative to Texas, our data show that Grand Prairie's latest annual appreciation rate is higher than 80% 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:
$158,904

Grand Prairie, TX HOME PRICES

Value Range
> $1,330,000 0.2
$997,001 - $1,330,000 0.2
$664,001 - $997,000 0.2
$532,001 - $664,000 0.5
$399,001 - $532,000 1.5
$266,001 - $399,000 9.7
$133,001 - $266,000 50.8
$67,001 - $133,000 29.7
$0 - $67,000 7.2

High for TX
Average for Nation

Value Relative to Nation Value Relative to State
46.1619594515411 29.4747081712062

Number Of Homes And Apartments:
59,196

Grand Prairie 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
48.14% 2.30% 2 6
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,256 / per month

Homeownership Rate

Homeownership
Owners 61.66
Renters 38.34
Vacant 6.65

Housing Market Details

 

Age of Homes

AGE OF Grand Prairie HOMES
2000 or Newer 30.1
1970 - 1999 49.0
1940 - 1969 20.2
1939 or Older 0.7

Types of Homes

TYPE OF Grand Prairie HOMES
Single-Family 67.0
Townhomes 3.2
Small Apt. Buildings 4.7
Apt. Complexes 22.2
Mobile Homes 2.8
Other 0.1

Home Size

SIZE OF Grand Prairie HOMES
No Bedroom 1.51
1 Bedroom 11.31
2 Bedrooms 19.75
3 Bedrooms 42.86
4 Bedrooms 19.81
5 or more bedrooms 4.76