Lamesa, TX
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Lamesa, TX Real Estate Data


Lamesa Housing Market Information

With a population of 9,427, 3,553 total housing units (homes and apartments), and a median house value of $62,062, 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 85.88% of the city's housing units. Other types of housing that are prevalent in Lamesa include mobile homes or trailers ( 4.55%), large apartment complexes or high rise apartments ( 4.23%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 3.10%).

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 72.10% of Lamesa's homes, and 58.81% 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 68.79% of the city's housing hails from this era. Other housing ages represented in Lamesa include homes built between 1970-1999 ( 25.75%) and housing constructed before 1939 ( 4.60%).

Vacant housing appears to be an issue in Lamesa. Fully 14.51% 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 47.80% over the last ten years, which is an average annual home appreciation rate of 3.98%, 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 5.56%, has been at or slightly above the national average. In the latest quarter, Lamesa's appreciation rate has been 2.87%, which annualizes to a rate of 11.99%.

Importantly, this makes Lamesa 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 Lamesa's latest annual appreciation rate is lower than 70% of the other cities and towns in Texas.

Average Home Values

 

Median Home Value:
$62,062

Lamesa, TX HOME PRICES

Value Range
> $1,090,000 0.9
$817,001 - $1,090,000 0.1
$545,001 - $817,000 0.1
$436,001 - $545,000 0.5
$327,001 - $436,000 1.1
$218,001 - $327,000 2.2
$109,001 - $218,000 16.3
$54,001 - $109,000 31.6
$0 - $54,000 47.2

Very Low for TX
Very Low for Nation

Value Relative to Nation Value Relative to State
97.9036130467881 95.9223300970874

Number Of Homes And Apartments:
3,553

Rent & Ownership

 

Average Market Rent:
$843 / per month

Homeownership Rate

Homeownership
Owners 72.10
Renters 27.90
Vacant 14.51

Housing Market Details

 

Age of Homes

AGE OF Lamesa HOMES
2000 or Newer 0.9
1970 - 1999 25.7
1940 - 1969 68.8
1939 or Older 4.6

Types of Homes

TYPE OF Lamesa HOMES
Single-Family 85.9
Townhomes 2.2
Small Apt. Buildings 3.1
Apt. Complexes 4.2
Mobile Homes 4.5
Other 0.0

Home Size

SIZE OF Lamesa HOMES
No Bedroom 0.58
1 Bedroom 8.16
2 Bedrooms 31.98
3 Bedrooms 48.51
4 Bedrooms 10.30
5 or more bedrooms 0.48

Lamesa Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
TX*
Compared To
America*
Latest Quarter:
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
Since 2000:
2000 Q1 - 2016 Q3
69.82% 3.16% 5 8
* 10 is highest

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