Lamesa, TX
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Lamesa, 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

Lamesa Housing Market Information

With 9,427 people, 3,450 houses or apartments, and a median cost of homes of $66,884, house prices in Lamesa 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 Lamesa, accounting for 86.73% of the city's housing units. Other types of housing that are prevalent in Lamesa include large apartment complexes or high rise apartments ( 4.38%), mobile homes or trailers ( 4.35%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 3.05%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Lamesa. Owner-occupied housing accounts for 70.73% of Lamesa's homes, and 57.39% 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. Lamesa's housing was primarily built during this period, from the '40s through the '60s. A full 65.47% of the city's housing hails from this era. Other housing ages represented in Lamesa include homes built between 1970-1999 ( 27.94%) and housing constructed before 1939 ( 5.31%). There's also some housing in Lamesa built between 2000 and later ( 1.27%).

Vacant housing appears to be an issue in Lamesa. Fully 17.05% of the housing stock is classified as vacant. Left unchecked, vacant Lamesa homes and apartments can be a drag on the real estate market, holding Lamesa 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.

Lamesa Home Appreciation Rates

In the last 10 years, Lamesa has experienced some of the highest home appreciation rates of any community in the nation. Lamesa real estate appreciated 40.51% over the last ten years, which is an average annual home appreciation rate of 3.46%, putting Lamesa in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Lamesa 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, Lamesa's appreciation rate, at 3.93%, has been at or slightly above the national average. In the latest quarter, Lamesa's appreciation rate has been 0.45%, which annualizes to a rate of 1.82%.

Relative to Texas, our data show that Lamesa's latest annual appreciation rate is lower than 70% of the other cities and towns in Texas.

Average Home Values

 

Median Home Value:
$66,884

Lamesa, TX HOME PRICES

Value Range
> $1,054,000 0.2
$791,001 - $1,054,000 0.5
$527,001 - $791,000 0.3
$422,001 - $527,000 0.4
$316,001 - $422,000 1.3
$211,001 - $316,000 2.8
$105,001 - $211,000 19.9
$52,001 - $105,000 30.9
$0 - $52,000 43.7

Very Low for TX
Very Low for Nation

Value Relative to Nation Value Relative to State
96.3260283604828 92.3151750972763

Number Of Homes And Apartments:
3,450

Lamesa 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
71.18% 3.17% 5 8
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$770 / per month

Homeownership Rate

Homeownership
Owners 70.73
Renters 29.27
Vacant 17.05

Housing Market Details

 

Age of Homes

AGE OF Lamesa HOMES
2000 or Newer 1.3
1970 - 1999 27.9
1940 - 1969 65.5
1939 or Older 5.3

Types of Homes

TYPE OF Lamesa HOMES
Single-Family 86.7
Townhomes 1.5
Small Apt. Buildings 3.1
Apt. Complexes 4.4
Mobile Homes 4.4
Other 0.0

Home Size

SIZE OF Lamesa HOMES
No Bedroom 0.26
1 Bedroom 7.48
2 Bedrooms 34.43
3 Bedrooms 47.94
4 Bedrooms 9.45
5 or more bedrooms 0.43

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Zip Codes in Lamesa, TX