Kermit, TX
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Kermit Neighborhoods Since 2000




Kermit, 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

Kermit Housing Market Information

With a population of 6,434, 2,121 total housing units (homes and apartments), and a median house value of $42,841, house prices in Kermit are some of the most affordable in Texas as well as the nation.

Single-family detached homes are the single most common housing type in Kermit, accounting for 85.90% of the city's housing units. Other types of housing that are prevalent in Kermit include mobile homes or trailers ( 10.00%), large apartment complexes or high rise apartments ( 2.46%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Kermit. Owner-occupied housing accounts for 79.59% of Kermit's homes, and 62.42% 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. Kermit's housing was primarily built during this period, from the '40s through the '60s. A full 71.07% of the city's housing hails from this era. Other housing ages represented in Kermit include homes built between 1970-1999 ( 25.04%) and housing constructed before 1939 ( 2.62%). There's also some housing in Kermit built between 2000 and later ( 1.27%).

Vacant housing appears to be an issue in Kermit. Fully 13.07% of the housing stock is classified as vacant. Left unchecked, vacant Kermit homes and apartments can be a drag on the real estate market, holding Kermit 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.

Kermit Home Appreciation Rates

In the last 10 years, Kermit has experienced some of the highest home appreciation rates of any community in the nation. Kermit real estate appreciated 17.40% over the last ten years, which is an average annual home appreciation rate of 1.62%, putting Kermit in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Kermit 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 Kermit that despite a nationwide downturn in the housing market, Kermit real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Kermit appreciation rates continue to be some of the highest in America, at 5.93%, which is higher than appreciation rates in 73.39% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Kermit. Kermit appreciation rates in the latest quarter were at 0.45%, which equates to an annual appreciation rate of 1.82%.

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

Average Home Values

 

Median Home Value:
$42,841

Kermit, TX HOME PRICES

Value Range
> $1,128,000 0.0
$846,001 - $1,128,000 0.0
$564,001 - $846,000 0.0
$451,001 - $564,000 0.0
$338,001 - $451,000 0.4
$226,001 - $338,000 1.0
$113,001 - $226,000 7.5
$56,001 - $113,000 27.4
$0 - $56,000 63.7

Very Low for TX
Very Low for Nation

Value Relative to Nation Value Relative to State
99.736317824915 99.3190661478599

Number Of Homes And Apartments:
2,121

Kermit 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
78.71% 3.42% 7 9
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$877 / per month

Homeownership Rate

Homeownership
Owners 79.59
Renters 20.41
Vacant 13.07

Housing Market Details

 

Age of Homes

AGE OF Kermit HOMES
2000 or Newer 1.3
1970 - 1999 25.0
1940 - 1969 71.1
1939 or Older 2.6

Types of Homes

TYPE OF Kermit HOMES
Single-Family 85.9
Townhomes 0.3
Small Apt. Buildings 0.4
Apt. Complexes 2.5
Mobile Homes 10.0
Other 1.0

Home Size

SIZE OF Kermit HOMES
No Bedroom 1.72
1 Bedroom 6.19
2 Bedrooms 28.69
3 Bedrooms 50.98
4 Bedrooms 11.43
5 or more bedrooms 0.98

Popular Neighborhoods in Kermit

Popular Communities Near Kermit, TX

Zip Codes in Kermit, TX