Hearne, TX
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Hearne, 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

Hearne Housing Market Information

With a population of 4,456, 1,482 total housing units (homes and apartments), and a median house value of $89,620, house prices in Hearne are solidly below the national average.

Single-family detached homes are the single most common housing type in Hearne, accounting for 71.63% of the city's housing units. Other types of housing that are prevalent in Hearne include mobile homes or trailers ( 15.71%), duplexes, homes converted to apartments or other small apartment buildings ( 6.36%), and a few large apartment complexes or high rise apartments ( 3.53%).

The most prevalent building size and type in Hearne are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 63.41% owning and 36.59% renting.

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. Hearne's housing was primarily built during this period, from the '40s through the '60s. A full 45.60% of the city's housing hails from this era. Other housing ages represented in Hearne include homes built between 1970-1999 ( 42.77%) and housing constructed before 1939 ( 6.25%). There's also some housing in Hearne built between 2000 and later ( 5.38%).

Vacant housing appears to be an issue in Hearne. Fully 19.46% of the housing stock is classified as vacant. Left unchecked, vacant Hearne homes and apartments can be a drag on the real estate market, holding Hearne 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.

Hearne Home Appreciation Rates

In the last 10 years, Hearne has experienced some of the highest home appreciation rates of any community in the nation. Hearne real estate appreciated 47.66% over the last ten years, which is an average annual home appreciation rate of 3.97%, putting Hearne in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Hearne 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 Hearne that despite a nationwide downturn in the housing market, Hearne real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Hearne appreciation rates continue to be some of the highest in America, at 5.65%, which is higher than appreciation rates in 70.84% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Hearne. Hearne appreciation rates in the latest quarter were at 0.76%, which equates to an annual appreciation rate of 3.07%.

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

Average Home Values

 

Median Home Value:
$89,620

Hearne, TX HOME PRICES

Value Range
> $1,218,000 2.3
$914,001 - $1,218,000 0.4
$609,001 - $914,000 0.0
$487,001 - $609,000 0.0
$365,001 - $487,000 0.0
$243,001 - $365,000 2.7
$122,001 - $243,000 26.4
$61,001 - $122,000 50.4
$0 - $61,000 17.8

Low for TX
Very Low for Nation

Value Relative to Nation Value Relative to State
84.2786827610454 74.4163424124514

Number Of Homes And Apartments:
1,482

Hearne 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
88.76% 3.75% 8 10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$799 / per month

Homeownership Rate

Homeownership
Owners 63.41
Renters 36.59
Vacant 19.46

Housing Market Details

 

Age of Homes

AGE OF Hearne HOMES
2000 or Newer 5.4
1970 - 1999 42.8
1940 - 1969 45.6
1939 or Older 6.3

Types of Homes

TYPE OF Hearne HOMES
Single-Family 71.6
Townhomes 2.8
Small Apt. Buildings 6.4
Apt. Complexes 3.5
Mobile Homes 15.7
Other 0.0

Home Size

SIZE OF Hearne HOMES
No Bedroom 4.78
1 Bedroom 4.51
2 Bedrooms 24.02
3 Bedrooms 55.92
4 Bedrooms 9.29
5 or more bedrooms 1.47

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Zip Codes in Hearne, TX