Groveton, TX
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Groveton, 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

Groveton Housing Market Information

With 1,024 people, 397 houses or apartments, and a median cost of homes of $117,751, house prices in Groveton are solidly below the national average.

Single-family detached homes are the single most common housing type in Groveton, accounting for 57.23% of the city's housing units. Other types of housing that are prevalent in Groveton include mobile homes or trailers ( 26.69%), duplexes, homes converted to apartments or other small apartment buildings ( 11.25%), and a few large apartment complexes or high rise apartments ( 1.77%).

People in Groveton primarily live in small (one, two or no bedroom) single-family detached homes. Groveton has a mixture of owner-occupied and renter-occupied housing.

There is a lot of housing in Groveton 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 Groveton built between 1940-1969 ( 25.24%). A lesser amount of the housing stock also hails from between 2000 and later ( 20.10%). There's also some housing in Groveton built before 1939 ( 14.63%).

Vacant housing appears to be an issue in Groveton. Fully 36.17% of the housing stock is classified as vacant. Left unchecked, vacant Groveton homes and apartments can be a drag on the real estate market, holding Groveton 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.

Groveton Home Appreciation Rates

In the last 10 years, Groveton has experienced some of the highest home appreciation rates of any community in the nation. Groveton real estate appreciated 43.54% over the last ten years, which is an average annual home appreciation rate of 3.68%, putting Groveton in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Groveton 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 Groveton that despite a nationwide downturn in the housing market, Groveton real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Groveton appreciation rates continue to be some of the highest in America, at 5.70%, which is higher than appreciation rates in 71.42% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Groveton. Groveton appreciation rates in the latest quarter were at 0.45%, which equates to an annual appreciation rate of 1.82%.

Relative to Texas, our data show that Groveton's latest annual appreciation rate is higher than 50% of the other cities and towns in Texas.

Average Home Values

 

Median Home Value:
$117,751

Groveton, TX HOME PRICES

Value Range
> $1,161,000 0.0
$871,001 - $1,161,000 0.0
$581,001 - $871,000 0.6
$464,001 - $581,000 0.0
$348,001 - $464,000 6.7
$232,001 - $348,000 4.5
$116,001 - $232,000 36.8
$58,001 - $116,000 27.2
$0 - $58,000 24.1

Average for TX
Low for Nation

Value Relative to Nation Value Relative to State
66.8287823743115 50.5836575875486

Number Of Homes And Apartments:
397

Groveton 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
111.33% 4.43% 10 10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$859 / per month

Homeownership Rate

Homeownership
Owners 53.71
Renters 46.29
Vacant 36.17

Housing Market Details

 

Age of Homes

AGE OF Groveton HOMES
2000 or Newer 20.1
1970 - 1999 40.0
1940 - 1969 25.2
1939 or Older 14.6

Types of Homes

TYPE OF Groveton HOMES
Single-Family 57.2
Townhomes 1.8
Small Apt. Buildings 11.3
Apt. Complexes 1.8
Mobile Homes 26.7
Other 1.3

Home Size

SIZE OF Groveton HOMES
No Bedroom 1.77
1 Bedroom 15.92
2 Bedrooms 35.05
3 Bedrooms 37.62
4 Bedrooms 8.36
5 or more bedrooms 1.29

Popular Neighborhoods in Groveton

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Zip Codes in Groveton, TX