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 142,344 people, 46,552 houses or apartments, and a median cost of homes of $239,949, 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 67.68% of the city's housing units. Other types of housing that are prevalent in Midland include large apartment complexes or high rise apartments ( 20.12%), duplexes, homes converted to apartments or other small apartment buildings ( 6.08%), and a few row houses and other attached homes ( 3.50%).
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 64.18% owning and 35.82% 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 ( 33.02%). A lesser amount of the housing stock also hails from between 2000 and later ( 19.22%). There's also some housing in Midland built before 1939 ( 1.42%).
In the last 10 years, Midland has experienced some of the highest home appreciation rates of any community in the nation. Midland real estate appreciated 84.48% over the last ten years, which is an average annual home appreciation rate of 6.32%, putting Midland in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Midland 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 Midland that despite a nationwide downturn in the housing market, Midland real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Midland appreciation rates continue to be some of the highest in America, at 8.07%, which is higher than appreciation rates in 98.38% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Midland. Midland appreciation rates in the latest quarter were at 0.38%, which equates to an annual appreciation rate of 1.54%.
Notably, Midland's appreciation rate in the latest quarter is one of the lowest in America.
Relative to Texas, our data show that Midland's latest annual appreciation rate is higher 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.
|$958,001 - $1,277,000||1.0|
|$639,001 - $958,000||3.7|
|$511,001 - $639,000||4.5|
|$383,001 - $511,000||10.2|
|$255,001 - $383,000||25.8|
|$128,001 - $255,000||35.1|
|$64,001 - $128,000||12.1|
|$0 - $64,000||6.7|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
2019 Q3 - 2019 Q4
Last 12 Months:
2018 Q4 - 2019 Q4
Last 2 Years:
2017 Q4 - 2019 Q4
Last 5 Years:
2014 Q4 - 2019 Q4
Last 10 Years:
2009 Q4 - 2019 Q4
2000 Q1 - 2019 Q4
|* 10 is highest|
|AGE OF Midland HOMES|
|2000 or Newer||19.2|
|1970 - 1999||46.3|
|1940 - 1969||33.0|
|1939 or Older||1.4|
|TYPE OF Midland HOMES|
|Small Apt. Buildings||6.1|
|SIZE OF Midland HOMES|
|5 or more bedrooms||2.94|