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
With 140,269 people, 42,225 houses or apartments, and a median cost of homes of $131,699, 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 65.44% of the city's housing units. Other types of housing that are prevalent in McAllen include large apartment complexes or high rise apartments ( 16.41%), duplexes, homes converted to apartments or other small apartment buildings ( 9.82%), and a few mobile homes or trailers ( 4.44%).
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 60.30% owning and 39.70% 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 ( 28.71%). A lesser amount of the housing stock also hails from between 1940-1969 ( 13.03%). There's also some housing in McAllen built before 1939 ( 1.93%).
Vacant housing appears to be an issue in McAllen. Fully 12.48% 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.
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 6.57%, which ranks in the top 40% nationwide. This equates to an annual average McAllen house appreciation rate of 0.64%.
Over the last year, McAllen appreciation rates have trailed the rest of the nation. In the last twelve months, McAllen's appreciation rate has been -0.37%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in McAllen were at -2.45%, which equates to an annual appreciation rate of -9.46%.
Notably, McAllen's appreciation rate in the latest quarter is one of the lowest in America.
Relative to Texas, our data show that McAllen's latest annual appreciation rate is lower than 90% 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.
|$825,001 - $1,100,000||0.3|
|$550,001 - $825,000||1.0|
|$440,001 - $550,000||0.8|
|$330,001 - $440,000||3.7|
|$220,001 - $330,000||9.3|
|$110,001 - $220,000||40.1|
|$55,001 - $110,000||32.8|
|$0 - $55,000||11.4|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
2017 Q1 - 2017 Q2
Last 12 Months:
2016 Q2 - 2017 Q2
Last 2 Years:
2015 Q2 - 2017 Q2
Last 5 Years:
2012 Q2 - 2017 Q2
Last 10 Years:
2007 Q2 - 2017 Q2
2000 Q1 - 2017 Q2
|* 10 is highest|
|AGE OF McAllen HOMES|
|2000 or Newer||28.7|
|1970 - 1999||56.3|
|1940 - 1969||13.0|
|1939 or Older||1.9|
|TYPE OF McAllen HOMES|
|Small Apt. Buildings||9.8|
|SIZE OF McAllen HOMES|
|5 or more bedrooms||3.03|