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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Kermit, TX Real Estate Market

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 Q4 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Kermit, TX Housing Market Trends

With 5,869 people, 2,110 houses or apartments, and a median cost of homes of $181,337, house prices in Kermit are solidly below the national average.

Single-family detached homes are the single most common housing type in Kermit, accounting for 84.26% of the city's housing units. Other types of housing that are prevalent in Kermit include mobile homes or trailers ( 9.65%), row houses and other attached homes ( 5.38%).

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 81.42% of Kermit's homes, and 66.61% 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 65.82% of the city's housing hails from this era. Other housing ages represented in Kermit include homes built between 1970-1999 ( 21.64%) and housing constructed between 2000 and later ( 12.38%).

Vacant housing appears to be an issue in Kermit. Fully 16.53% 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 129.36% over the last ten years, which is an average annual home appreciation rate of 8.66%, putting Kermit in the top 10% 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.

Over the last year, Kermit appreciation rates have trailed the rest of the nation. In the last twelve months, Kermit's appreciation rate has been 4.05%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Kermit were at 1.44%, which equates to an annual appreciation rate of 5.89%.

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

Average Home Values

Median Home Value

$181,337

Kermit, TX Home Prices
> $1,508,000
$1,131,001 - $1,508,000
$754,001 - $1,131,000
$603,001 - $754,000
$452,001 - $603,000
$301,001 - $452,000
$151,001 - $301,000
$75,001 - $151,000
$0 - $75,000
0.0%
0.0%
1.9%
1.9%
1.1%
1.1%
0.0%
0.0%
1.4%
1.4%
18.4%
18.4%
30.3%
30.3%
39.5%
39.5%
7.5%
7.5%
0% 100.0%
% of Homes
Low

for Texas

Low

for nation

Number of Homes And Apartments:

2,110

Kermit Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,509 / per month

Homeownership Rate

Owners
Renters
81.4%
81.4%
18.6%
18.6%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
16.5%
16.5%
83.5%
83.5%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
12.4%
12.4%
21.6%
21.6%
65.8%
65.8%
0.2%
0.2%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
84.3%
84.3%
5.4%
5.4%
0.0%
0.0%
0.7%
0.7%
9.7%
9.7%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
0.8%
0.8%
1.0%
1.0%
30.7%
30.7%
55.1%
55.1%
11.5%
11.5%
0.9%
0.9%
0% 100.0%
% of Homes

Popular Neighborhoods in Kermit

Popular Communities Near Kermit, TX

Zip Codes in Kermit, TX