Harlingen, TX
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Harlingen, TX Real Estate Data


Harlingen Housing Market Information

With a population of 65,774, 20,599 total housing units (homes and apartments), and a median house value of $79,555, house prices in Harlingen are some of the most affordable in Texas as well as the nation.

Single-family detached homes are the single most common housing type in Harlingen, accounting for 60.64% of the city's housing units. Other types of housing that are prevalent in Harlingen include large apartment complexes or high rise apartments ( 14.89%), duplexes, homes converted to apartments or other small apartment buildings ( 11.34%), and a few mobile homes or trailers ( 10.78%).

The most prevalent building size and type in Harlingen are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 56.36% owning and 43.64% renting.

There is a lot of housing in Harlingen 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 Harlingen built between 1940-1969 ( 26.63%). A lesser amount of the housing stock also hails from between 2000 and later ( 18.49%). There's also some housing in Harlingen built before 1939 ( 3.67%).

Vacant housing appears to be an issue in Harlingen. Fully 15.20% of the housing stock is classified as vacant. Left unchecked, vacant Harlingen homes and apartments can be a drag on the real estate market, holding Harlingen 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.

Harlingen Home Appreciation Rates

Appreciation rates for homes in Harlingen have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 9.60%, which ranks in the top 40% nationwide. This equates to an annual average Harlingen house appreciation rate of 0.92%.

NeighborhoodScout's data show that during the latest twelve months, Harlingen's appreciation rate, at 4.17%, has been at or slightly above the national average. In the latest quarter, Harlingen's appreciation rate has been 1.10%, which annualizes to a rate of 4.49%.

Relative to Texas, our data show that Harlingen's latest annual appreciation rate is lower than 60% 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 Harlingen differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Harlingen - 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 Harlingen real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$79,555

Harlingen, TX HOME PRICES

Value Range
> $1,094,000 0.0
$821,001 - $1,094,000 0.2
$548,001 - $821,000 0.6
$438,001 - $548,000 0.3
$328,001 - $438,000 1.6
$219,001 - $328,000 5.0
$109,001 - $219,000 23.9
$55,001 - $109,000 40.1
$0 - $55,000 28.3

Very Low for TX
Very Low for Nation

Value Relative to Nation Value Relative to State
90.6011953591937 83.2684824902724

Number Of Homes And Apartments:
20,599

Rent & Ownership

 

Average Market Rent:
$875 / per month

Homeownership Rate

Homeownership
Owners 56.36
Renters 43.64
Vacant 15.20

Housing Market Details

 

Age of Homes

AGE OF Harlingen HOMES
2000 or Newer 18.5
1970 - 1999 51.2
1940 - 1969 26.6
1939 or Older 3.7

Types of Homes

TYPE OF Harlingen HOMES
Single-Family 60.6
Townhomes 2.1
Small Apt. Buildings 11.3
Apt. Complexes 14.9
Mobile Homes 10.8
Other 0.2

Home Size

SIZE OF Harlingen HOMES
No Bedroom 4.54
1 Bedroom 10.99
2 Bedrooms 29.76
3 Bedrooms 42.74
4 Bedrooms 10.17
5 or more bedrooms 1.80

Harlingen Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
TX*
Compared To
America*
Latest Quarter:
2016 Q3 - 2016 Q4
Last 12 Months:
2015 Q4 - 2016 Q4
Last 2 Years:
2014 Q4 - 2016 Q4
Last 5 Years:
2011 Q4 - 2016 Q4
Last 10 Years:
2006 Q4 - 2016 Q4
Since 2000:
2000 Q1 - 2016 Q4
25.20% 1.31% 1 3
* 10 is highest