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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With a population of 3,347, 1,250 total housing units (homes and apartments), and a median house value of $245,879, Llano real estate and house prices are near the national average for all cities and towns.
Single-family detached homes are the single most common housing type in Llano, accounting for 65.35% of the city's housing units. Other types of housing that are prevalent in Llano include mobile homes or trailers ( 13.19%), duplexes, homes converted to apartments or other small apartment buildings ( 13.19%), and a few large apartment complexes or high rise apartments ( 6.39%).
The most prevalent building size and type in Llano are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 58.73% owning and 41.27% renting.
There is a lot of housing in Llano 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 Llano built between 1940-1969 ( 22.43%). A lesser amount of the housing stock also hails from between 2000 and later ( 22.29%). There's also some housing in Llano built before 1939 ( 12.50%).
Vacant housing appears to be an issue in Llano. Fully 13.19% of the housing stock is classified as vacant. Left unchecked, vacant Llano homes and apartments can be a drag on the real estate market, holding Llano 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.
Appreciation rates for homes in Llano have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 100.54%, which ranks in the top 30% nationwide. This equates to an annual average Llano house appreciation rate of 7.21%.
Appreciation rates are so strong in Llano that despite a nationwide downturn in the housing market, Llano real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Llano appreciation rates continue to be some of the highest in America, at 17.36%, which is higher than appreciation rates in 92.18% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Llano. Llano appreciation rates in the latest quarter were at 3.09%, which equates to an annual appreciation rate of 12.93%.
Importantly, this makes Llano 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 Llano's latest annual appreciation rate is higher than 90% of the other cities and towns in Texas.
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