Hico, TX
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Hico, 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

Hico Housing Market Information

With a population of 1,326, 532 total housing units (homes and apartments), and a median house value of $138,794, house prices in Hico are solidly below the national average.

Single-family detached homes are the single most common housing type in Hico, accounting for 75.89% of the city's housing units. Other types of housing that are prevalent in Hico include duplexes, homes converted to apartments or other small apartment buildings ( 10.57%), mobile homes or trailers ( 7.29%), and a few large apartment complexes or high rise apartments ( 6.10%).

The most prevalent building size and type in Hico are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 51.49% owning and 48.51% 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. Hico's housing was primarily built during this period, from the '40s through the '60s. A full 41.07% of the city's housing hails from this era. Other housing ages represented in Hico include homes built between 1970-1999 ( 31.70%) and housing constructed before 1939 ( 17.71%). There's also some housing in Hico built between 2000 and later ( 9.52%).

Vacant housing appears to be an issue in Hico. Fully 20.83% of the housing stock is classified as vacant. Left unchecked, vacant Hico homes and apartments can be a drag on the real estate market, holding Hico 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.

Hico Home Appreciation Rates

In the last 10 years, Hico has experienced some of the highest home appreciation rates of any community in the nation. Hico real estate appreciated 40.29% over the last ten years, which is an average annual home appreciation rate of 3.44%, putting Hico in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Hico 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, Hico's appreciation rate, at 5.37%, has been at or slightly above the national average. In the latest quarter, Hico's appreciation rate has been 0.45%, which annualizes to a rate of 1.82%.

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

Average Home Values

 

Median Home Value:
$138,794

Hico, TX HOME PRICES

Value Range
> $1,159,000 1.8
$869,001 - $1,159,000 0.0
$579,001 - $869,000 0.0
$463,001 - $579,000 0.3
$347,001 - $463,000 6.8
$232,001 - $347,000 16.3
$115,001 - $232,000 33.2
$58,001 - $115,000 28.5
$0 - $58,000 12.9

High for TX
Average for Nation

Value Relative to Nation Value Relative to State
55.3732567678425 38.2295719844358

Number Of Homes And Apartments:
532

Hico 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
120.56% 4.69% 10 10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$874 / per month

Homeownership Rate

Homeownership
Owners 51.49
Renters 48.51
Vacant 20.83

Housing Market Details

 

Age of Homes

AGE OF Hico HOMES
2000 or Newer 9.5
1970 - 1999 31.7
1940 - 1969 41.1
1939 or Older 17.7

Types of Homes

TYPE OF Hico HOMES
Single-Family 75.9
Townhomes 0.1
Small Apt. Buildings 10.6
Apt. Complexes 6.1
Mobile Homes 7.3
Other 0.0

Home Size

SIZE OF Hico HOMES
No Bedroom 2.68
1 Bedroom 9.38
2 Bedrooms 31.25
3 Bedrooms 45.24
4 Bedrooms 10.86
5 or more bedrooms 0.60

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Zip Codes in Hico, TX