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 a population of 132,950, 43,214 total housing units (homes and apartments), and a median house value of $194,333, 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 67.36% of the city's housing units. Other types of housing that are prevalent in Midland include large apartment complexes or high rise apartments ( 21.61%), duplexes, homes converted to apartments or other small apartment buildings ( 5.66%), and a few row houses and other attached homes ( 3.47%).
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 63.84% owning and 36.16% 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 ( 36.44%). A lesser amount of the housing stock also hails from between 2000 and later ( 13.83%). There's also some housing in Midland built before 1939 ( 1.64%).
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 51.78% over the last ten years, which is an average annual home appreciation rate of 4.26%, 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.
NeighborhoodScout's data show that during the latest twelve months, Midland's appreciation rate, at 4.78%, has been at or slightly above the national average. In the latest quarter, Midland's appreciation rate has been 4.11%, which annualizes to a rate of 17.47%.
Importantly, this makes Midland 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 Midland's latest annual appreciation rate is higher than 50% 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.
|$873,001 - $1,164,000||0.7|
|$582,001 - $873,000||2.1|
|$466,001 - $582,000||3.0|
|$349,001 - $466,000||8.4|
|$233,001 - $349,000||20.7|
|$116,001 - $233,000||38.0|
|$58,001 - $116,000||17.9|
|$0 - $58,000||8.5|
|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 Midland HOMES|
|2000 or Newer||13.8|
|1970 - 1999||48.1|
|1940 - 1969||36.4|
|1939 or Older||1.6|
|TYPE OF Midland HOMES|
|Small Apt. Buildings||5.7|
|SIZE OF Midland HOMES|
|5 or more bedrooms||2.49|