With 9,189 people, 3,414 houses or apartments, and a median cost of homes of $2,053,397, Highland Park house prices are not only among the most expensive in Texas, Highland Park real estate also is some of the most expensive in all of America.
Highland Park is a town of large, single-family homes. In fact, there is a higher proportion of four, five or more bedroom homes in Highland Park than is found in 98% of the communities in America.
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Highland Park. Owner-occupied housing accounts for 81.66% of Highland Park's homes, and 59.85% have either three or four bedrooms, which is average sized relative to America.
The housing in Highland Park was primarily built before 1939 ( 37.64%), making the housing stock in Highland Park some of the oldest overall in America, although there is a range of ages of homes in Highland Park. The next most important housing age is between 1970-1999 ( 27.78%), followed by between 1940-1969 ( 25.14%). There's also some housing in Highland Park built between 2000 and later ( 9.44%).
Vacant housing appears to be an issue in Highland Park. Fully 10.70% of the housing stock is classified as vacant. Left unchecked, vacant Highland Park homes and apartments can be a drag on the real estate market, holding Highland Park 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.
In the last 10 years, Highland Park has experienced some of the highest home appreciation rates of any community in the nation. Highland Park real estate appreciated 53.48% over the last ten years, which is an average annual home appreciation rate of 4.38%, putting Highland Park in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Highland Park 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 Highland Park that despite a nationwide downturn in the housing market, Highland Park real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Highland Park appreciation rates continue to be some of the highest in America, at 10.65%, which is higher than appreciation rates in 98.46% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Highland Park. Highland Park appreciation rates in the latest quarter were at 3.93%, which equates to an annual appreciation rate of 16.66%.
Importantly, this makes Highland Park one of the highest appreciating communities in the nation for the latest quarter, and may signal the town's near-future real estate investment strength.
Relative to Texas, our data show that Highland Park's latest annual appreciation rate is higher than 90% of the other cities and towns in Texas.
|AGE OF Highland Park HOMES|
|2000 or Newer||9.4|
|1970 - 1999||27.8|
|1940 - 1969||25.1|
|1939 or Older||37.6|
|TYPE OF Highland Park HOMES|
|Small Apt. Buildings||2.6|
|SIZE OF Highland Park HOMES|
|5 or more bedrooms||16.09|
|Time Period||Total Appreciation||Avg. Annual Rate||
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
2000 Q1 - 2016 Q3
|* 10 is highest|