Hereford, TX
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Hereford Neighborhoods Since 2000




Hereford, 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

Hereford Housing Market Information

With 15,021 people, 4,837 houses or apartments, and a median cost of homes of $85,648, house prices in Hereford are solidly below the national average.

Single-family detached homes are the single most common housing type in Hereford, accounting for 78.58% of the city's housing units. Other types of housing that are prevalent in Hereford include duplexes, homes converted to apartments or other small apartment buildings ( 7.84%), large apartment complexes or high rise apartments ( 7.73%), and a few mobile homes or trailers ( 4.62%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Hereford. Owner-occupied housing accounts for 65.28% of Hereford's homes, and 62.98% 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. Hereford's housing was primarily built during this period, from the '40s through the '60s. A full 47.32% of the city's housing hails from this era. Other housing ages represented in Hereford include homes built between 1970-1999 ( 40.29%) and housing constructed between 2000 and later ( 7.02%). There's also some housing in Hereford built before 1939 ( 5.37%).

Hereford Home Appreciation Rates

Appreciation rates for homes in Hereford have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 2.83%, which ranks in the top 50% nationwide. This equates to an annual average Hereford house appreciation rate of 0.28%.

NeighborhoodScout's data show that during the latest twelve months, Hereford's appreciation rate, at 3.52%, has been at or slightly above the national average. In the latest quarter, Hereford's appreciation rate has been 0.45%, which annualizes to a rate of 1.82%.

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

Average Home Values

 

Median Home Value:
$85,648

Hereford, TX HOME PRICES

Value Range
> $1,023,000 0.0
$767,001 - $1,023,000 0.0
$511,001 - $767,000 0.0
$409,001 - $511,000 0.2
$307,001 - $409,000 1.4
$205,001 - $307,000 3.6
$102,001 - $205,000 25.5
$51,001 - $102,000 45.7
$0 - $51,000 23.5

Low for TX
Very Low for Nation

Value Relative to Nation Value Relative to State
86.9916793624751 78.5992217898833

Number Of Homes And Apartments:
4,837

Hereford 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
42.30% 2.07% 1 5
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$967 / per month

Homeownership Rate

Homeownership
Owners 65.28
Renters 34.72
Vacant 9.89

Housing Market Details

 

Age of Homes

AGE OF Hereford HOMES
2000 or Newer 7.0
1970 - 1999 40.3
1940 - 1969 47.3
1939 or Older 5.4

Types of Homes

TYPE OF Hereford HOMES
Single-Family 78.6
Townhomes 1.2
Small Apt. Buildings 7.8
Apt. Complexes 7.7
Mobile Homes 4.6
Other 0.0

Home Size

SIZE OF Hereford HOMES
No Bedroom 2.01
1 Bedroom 8.16
2 Bedrooms 25.50
3 Bedrooms 47.34
4 Bedrooms 15.65
5 or more bedrooms 1.34

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Zip Codes in Hereford, TX