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 131,325, 50,371 total housing units (homes and apartments), and a median house value of $312,868, Midland real estate prices are well above average cost compared to national prices.
Single-family detached homes are the single most common housing type in Midland, accounting for 65.30% of the city's housing units. Other types of housing that are prevalent in Midland include large apartment complexes or high rise apartments ( 21.56%), duplexes, homes converted to apartments or other small apartment buildings ( 5.92%), and a few row houses and other attached homes ( 4.35%).
The most prevalent building size and type in Midland are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 63.47% owning and 36.53% renting.
There is a lot of housing in Midland 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 Midland built between 1940-1969 ( 29.32%). A lesser amount of the housing stock also hails from between 2000 and later ( 26.44%). There's also some housing in Midland built before 1939 ( 1.17%).
Real estate appreciation rates in Midland's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 5.09% during the period.
Over the last year, Midland appreciation rates have trailed the rest of the nation. In the last twelve months, Midland's appreciation rate has been 5.67%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Midland were at -0.38%, which equates to an annual appreciation rate of -1.52%.
Relative to Texas, our data show that Midland'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 Midland differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Midland - 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 Midland real estate investment or home purchase decisions.
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