McAllen, TX
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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McAllen, TX Real Estate Data


McAllen Housing Market Information

With a population of 140,269, 42,040 total housing units (homes and apartments), and a median house value of $130,744, house prices in McAllen are solidly below the national average.

Single-family detached homes are the single most common housing type in McAllen, accounting for 65.16% of the city's housing units. Other types of housing that are prevalent in McAllen include large apartment complexes or high rise apartments ( 16.26%), duplexes, homes converted to apartments or other small apartment buildings ( 9.88%), and a few mobile homes or trailers ( 4.42%).

The most prevalent building size and type in McAllen are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 59.77% owning and 40.23% renting.

There is a lot of housing in McAllen 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 McAllen built between 2000 and later ( 28.98%). A lesser amount of the housing stock also hails from between 1940-1969 ( 13.20%). There's also some housing in McAllen built before 1939 ( 1.87%).

Vacant housing appears to be an issue in McAllen. Fully 12.46% of the housing stock is classified as vacant. Left unchecked, vacant McAllen homes and apartments can be a drag on the real estate market, holding McAllen 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.

McAllen Home Appreciation Rates

Appreciation rates for homes in McAllen have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 16.72%, which ranks in the top 30% nationwide. This equates to an annual average McAllen house appreciation rate of 1.56%.

Appreciation rates are so strong in McAllen that despite a nationwide downturn in the housing market, McAllen real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, McAllen appreciation rates continue to be some of the highest in America, at 8.79%, which is higher than appreciation rates in 94.98% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in McAllen. McAllen appreciation rates in the latest quarter were at 3.28%, which equates to an annual appreciation rate of 13.76%.

Importantly, this makes McAllen 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 McAllen's latest annual appreciation rate is higher than 80% of the other cities and towns in Texas.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within McAllen differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in McAllen - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best McAllen real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$130,744

McAllen, TX HOME PRICES

Value Range
> $1,137,000 0.5
$853,001 - $1,137,000 0.4
$569,001 - $853,000 1.1
$455,001 - $569,000 0.9
$341,001 - $455,000 3.6
$227,001 - $341,000 8.8
$114,001 - $227,000 38.9
$57,001 - $114,000 35.1
$0 - $57,000 10.7

Average for TX
Low for Nation

Value Relative to Nation Value Relative to State
60.3736019207121 44.3689320388349

Number Of Homes And Apartments:
42,040

Rent & Ownership

 

Average Market Rent:
$937 / per month

Homeownership Rate

Homeownership
Owners 59.77
Renters 40.23
Vacant 12.46

Housing Market Details

 

Age of Homes

AGE OF McAllen HOMES
2000 or Newer 29.0
1970 - 1999 56.0
1940 - 1969 13.2
1939 or Older 1.9

Types of Homes

TYPE OF McAllen HOMES
Single-Family 65.2
Townhomes 4.0
Small Apt. Buildings 9.9
Apt. Complexes 16.3
Mobile Homes 4.4
Other 0.3

Home Size

SIZE OF McAllen HOMES
No Bedroom 1.86
1 Bedroom 9.91
2 Bedrooms 25.11
3 Bedrooms 43.63
4 Bedrooms 16.32
5 or more bedrooms 3.18

McAllen 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
52.33% 2.51% 3 6
* 10 is highest