Joshua, TX
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Joshua, 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

Joshua Housing Market Information

With a population of 6,066, 2,223 total housing units (homes and apartments), and a median house value of $176,987, Joshua real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Joshua, accounting for 68.63% of the city's housing units. Other types of housing that are prevalent in Joshua include mobile homes or trailers ( 19.11%), large apartment complexes or high rise apartments ( 7.58%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 3.31%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Joshua. Owner-occupied housing accounts for 76.99% of Joshua's homes, and 65.20% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Joshua 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 Joshua built between 2000 and later ( 26.17%). A lesser amount of the housing stock also hails from between 1940-1969 ( 13.06%). There's also some housing in Joshua built before 1939 ( 3.27%).

Vacant housing appears to be an issue in Joshua. Fully 10.36% of the housing stock is classified as vacant. Left unchecked, vacant Joshua homes and apartments can be a drag on the real estate market, holding Joshua 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.

Joshua Home Appreciation Rates

In the last 10 years, Joshua has experienced some of the highest home appreciation rates of any community in the nation. Joshua real estate appreciated 33.29% over the last ten years, which is an average annual home appreciation rate of 2.92%, putting Joshua in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Joshua 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 Joshua that despite a nationwide downturn in the housing market, Joshua real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Joshua appreciation rates continue to be some of the highest in America, at 11.08%, which is higher than appreciation rates in 96.19% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Joshua. Joshua appreciation rates in the latest quarter were at 2.35%, which equates to an annual appreciation rate of 9.75%.

Importantly, this makes Joshua one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.

Relative to Texas, our data show that Joshua's latest annual appreciation rate is higher than 90% 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 Joshua differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Joshua - 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 Joshua real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$176,987

Joshua, TX HOME PRICES

Value Range
> $1,285,000 0.4
$964,001 - $1,285,000 0.6
$643,001 - $964,000 1.6
$514,001 - $643,000 2.7
$385,001 - $514,000 3.5
$257,001 - $385,000 18.3
$129,001 - $257,000 45.0
$64,001 - $129,000 18.7
$0 - $64,000 9.2

High for TX
High for Nation

Value Relative to Nation Value Relative to State
39.1655924059534 22.7626459143969

Number Of Homes And Apartments:
2,223

Joshua 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
61.22% 2.81% 4 7
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,022 / per month

Homeownership Rate

Homeownership
Owners 76.99
Renters 23.01
Vacant 10.36

Housing Market Details

 

Age of Homes

AGE OF Joshua HOMES
2000 or Newer 26.2
1970 - 1999 57.5
1940 - 1969 13.1
1939 or Older 3.3

Types of Homes

TYPE OF Joshua HOMES
Single-Family 68.6
Townhomes 1.4
Small Apt. Buildings 3.3
Apt. Complexes 7.6
Mobile Homes 19.1
Other 0.0

Home Size

SIZE OF Joshua HOMES
No Bedroom 2.14
1 Bedroom 5.52
2 Bedrooms 22.30
3 Bedrooms 49.76
4 Bedrooms 15.44
5 or more bedrooms 4.84