Groves, TX
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Groves Neighborhoods Since 2000




Groves, 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

Groves Housing Market Information

With 15,750 people, 6,252 houses or apartments, and a median cost of homes of $115,227, house prices in Groves are solidly below the national average.

Single-family detached homes are the single most common housing type in Groves, accounting for 83.43% of the city's housing units. Other types of housing that are prevalent in Groves include large apartment complexes or high rise apartments ( 11.58%), duplexes, homes converted to apartments or other small apartment buildings ( 3.15%), and a few row houses and other attached homes ( 1.07%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Groves. Owner-occupied housing accounts for 72.11% of Groves's homes, and 62.33% have either three or four bedrooms, which is average sized relative to America.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Groves's housing was primarily built during this period, from the '40s through the '60s. A full 58.83% of the city's housing hails from this era. Other housing ages represented in Groves include homes built between 1970-1999 ( 33.66%) and housing constructed before 1939 ( 3.81%). There's also some housing in Groves built between 2000 and later ( 3.70%).

Groves Home Appreciation Rates

In the last 10 years, Groves has experienced some of the highest home appreciation rates of any community in the nation. Groves real estate appreciated 17.39% over the last ten years, which is an average annual home appreciation rate of 1.62%, putting Groves in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Groves 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, Groves's appreciation rate, at 3.40%, has been at or slightly above the national average. In the latest quarter, Groves's appreciation rate has been -1.13%, which annualizes to a rate of -4.46%.

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

Relative to Texas, our data show that Groves's latest annual appreciation rate is lower than 80% of the other cities and towns in Texas.

Average Home Values

 

Median Home Value:
$115,227

Groves, TX HOME PRICES

Value Range
> $1,091,000 0.2
$818,001 - $1,091,000 0.0
$546,001 - $818,000 0.0
$436,001 - $546,000 0.0
$327,001 - $436,000 0.3
$219,001 - $327,000 7.4
$109,001 - $219,000 40.4
$55,001 - $109,000 44.1
$0 - $55,000 7.6

Average for TX
Low for Nation

Value Relative to Nation Value Relative to State
68.1471932497363 52.2373540856031

Number Of Homes And Apartments:
6,252

Groves 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
65.24% 2.95% 4 8
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,031 / per month

Homeownership Rate

Homeownership
Owners 72.11
Renters 27.89
Vacant 8.46

Housing Market Details

 

Age of Homes

AGE OF Groves HOMES
2000 or Newer 3.7
1970 - 1999 33.7
1940 - 1969 58.8
1939 or Older 3.8

Types of Homes

TYPE OF Groves HOMES
Single-Family 83.4
Townhomes 1.1
Small Apt. Buildings 3.1
Apt. Complexes 11.6
Mobile Homes 0.8
Other 0.0

Home Size

SIZE OF Groves HOMES
No Bedroom 0.13
1 Bedroom 8.62
2 Bedrooms 28.16
3 Bedrooms 52.81
4 Bedrooms 9.52
5 or more bedrooms 0.76