Lucas, TX
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Lucas, 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

Lucas Housing Market Information

With a population of 6,883, 1,997 total housing units (homes and apartments), and a median house value of $518,933, Lucas house prices are not only among the most expensive in Texas, Lucas real estate also is some of the most expensive in all of America.

Lucas is a city of large, single-family homes. In fact, there is a higher proportion of four, five or more bedroom homes in Lucas than is found in 98% of the communities in America.

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Lucas. Owner-occupied housing accounts for 87.87% of Lucas's homes, and 79.27% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Lucas 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 Lucas built between 2000 and later ( 43.92%). A lesser amount of the housing stock also hails from between 1940-1969 ( 3.10%).

Lucas Home Appreciation Rates

In the last 10 years, Lucas has experienced some of the highest home appreciation rates of any community in the nation. Lucas real estate appreciated 60.61% over the last ten years, which is an average annual home appreciation rate of 4.85%, putting Lucas in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Lucas 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 Lucas that despite a nationwide downturn in the housing market, Lucas real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Lucas appreciation rates continue to be some of the highest in America, at 11.16%, which is higher than appreciation rates in 96.32% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Lucas. Lucas appreciation rates in the latest quarter were at 2.35%, which equates to an annual appreciation rate of 9.75%.

Importantly, this makes Lucas 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 Lucas's latest annual appreciation rate is higher than 90% of the other cities and towns in Texas.

Average Home Values

 

Median Home Value:
$518,933

Lucas, TX HOME PRICES

Value Range
> $1,396,000 1.8
$1,047,001 - $1,396,000 4.6
$698,001 - $1,047,000 16.5
$559,001 - $698,000 12.4
$419,001 - $559,000 18.5
$279,001 - $419,000 29.7
$140,001 - $279,000 12.6
$70,001 - $140,000 1.0
$0 - $70,000 3.0

Very High for TX
Very High for Nation

Value Relative to Nation Value Relative to State
5.43771241064104 2.43190661478599

Number Of Homes And Apartments:
1,997

Lucas 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
90.96% 3.82% 8 10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,132 / per month

Homeownership Rate

Homeownership
Owners 87.87
Renters 12.13
Vacant 0.00

Housing Market Details

 

Age of Homes

AGE OF Lucas HOMES
2000 or Newer 43.9
1970 - 1999 52.0
1940 - 1969 3.1
1939 or Older 1.0

Types of Homes

TYPE OF Lucas HOMES
Single-Family 96.4
Townhomes 0.9
Small Apt. Buildings 0.0
Apt. Complexes 0.0
Mobile Homes 2.7
Other 0.0

Home Size

SIZE OF Lucas HOMES
No Bedroom 0.00
1 Bedroom 0.65
2 Bedrooms 3.10
3 Bedrooms 30.70
4 Bedrooms 48.57
5 or more bedrooms 16.98

Popular Neighborhoods in Lucas

Zip Codes in Lucas, TX