Groesbeck, TX
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Groesbeck, TX Real Estate Data


Groesbeck Housing Market Information

With a population of 4,304, 1,254 total housing units (homes and apartments), and a median house value of $112,255, house prices in Groesbeck are solidly below the national average.

Single-family detached homes are the single most common housing type in Groesbeck, accounting for 72.94% of the city's housing units. Other types of housing that are prevalent in Groesbeck include mobile homes or trailers ( 13.46%), duplexes, homes converted to apartments or other small apartment buildings ( 8.05%), and a few large apartment complexes or high rise apartments ( 5.55%).

The most prevalent building size and type in Groesbeck are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 60.50% owning and 39.50% renting.

There is a lot of housing in Groesbeck 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 Groesbeck built between 1940-1969 ( 25.85%). A lesser amount of the housing stock also hails from between 2000 and later ( 12.92%). There's also some housing in Groesbeck built before 1939 ( 11.16%).

Vacant housing appears to be an issue in Groesbeck. Fully 15.16% of the housing stock is classified as vacant. Left unchecked, vacant Groesbeck homes and apartments can be a drag on the real estate market, holding Groesbeck 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.

Groesbeck Home Appreciation Rates

In the last 10 years, Groesbeck has experienced some of the highest home appreciation rates of any community in the nation. Groesbeck real estate appreciated 47.42% over the last ten years, which is an average annual home appreciation rate of 3.96%, putting Groesbeck in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Groesbeck 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 Groesbeck that despite a nationwide downturn in the housing market, Groesbeck real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Groesbeck appreciation rates continue to be some of the highest in America, at 7.29%, which is higher than appreciation rates in 86.94% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Groesbeck. Groesbeck appreciation rates in the latest quarter were at 2.87%, which equates to an annual appreciation rate of 11.99%.

Importantly, this makes Groesbeck 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 Groesbeck's latest annual appreciation rate is higher than 60% of the other cities and towns in Texas.

Average Home Values

 

Median Home Value:
$112,255

Groesbeck, TX HOME PRICES

Value Range
> $1,214,000 0.0
$910,001 - $1,214,000 0.0
$607,001 - $910,000 1.6
$485,001 - $607,000 1.9
$364,001 - $485,000 0.0
$243,001 - $364,000 6.4
$121,001 - $243,000 32.7
$60,001 - $121,000 34.1
$0 - $60,000 23.3

Average for TX
Low for Nation

Value Relative to Nation Value Relative to State
70.9375182994671 54.5631067961165

Number Of Homes And Apartments:
1,254

Rent & Ownership

 

Average Market Rent:
$1,093 / per month

Homeownership Rate

Homeownership
Owners 60.50
Renters 39.50
Vacant 15.16

Housing Market Details

 

Age of Homes

AGE OF Groesbeck HOMES
2000 or Newer 12.9
1970 - 1999 50.1
1940 - 1969 25.8
1939 or Older 11.2

Types of Homes

TYPE OF Groesbeck HOMES
Single-Family 72.9
Townhomes 0.0
Small Apt. Buildings 8.1
Apt. Complexes 5.5
Mobile Homes 13.5
Other 0.0

Home Size

SIZE OF Groesbeck HOMES
No Bedroom 0.00
1 Bedroom 6.63
2 Bedrooms 29.70
3 Bedrooms 50.00
4 Bedrooms 12.11
5 or more bedrooms 1.56

Groesbeck Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
TX*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
92.97% 3.94% 8 10
* 10 is highest

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Zip Codes in Groesbeck, TX