Mineral Wells, TX
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Mineral Wells, TX Real Estate Data

Source & Methodology

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.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Mineral Wells Housing Market Information

With 14,754 people, 5,279 houses or apartments, and a median cost of homes of $88,837, house prices in Mineral Wells are solidly below the national average.

Single-family detached homes are the single most common housing type in Mineral Wells, accounting for 68.58% of the city's housing units. Other types of housing that are prevalent in Mineral Wells include duplexes, homes converted to apartments or other small apartment buildings ( 9.79%), large apartment complexes or high rise apartments ( 8.99%), and a few mobile homes or trailers ( 7.83%).

The most prevalent building size and type in Mineral Wells are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 47.82% owning and 52.18% renting.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Mineral Wells's housing was primarily built during this period, from the '40s through the '60s. A full 56.37% of the city's housing hails from this era. Other housing ages represented in Mineral Wells include homes built between 1970-1999 ( 26.20%) and housing constructed before 1939 ( 9.44%). There's also some housing in Mineral Wells built between 2000 and later ( 7.99%).

Vacant housing appears to be an issue in Mineral Wells. Fully 14.98% of the housing stock is classified as vacant. Left unchecked, vacant Mineral Wells homes and apartments can be a drag on the real estate market, holding Mineral Wells 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.

Mineral Wells Home Appreciation Rates

Appreciation rates for homes in Mineral Wells have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 10.11%, which ranks in the top 30% nationwide. This equates to an annual average Mineral Wells house appreciation rate of 0.97%.

Over the last year, Mineral Wells appreciation rates have trailed the rest of the nation. In the last twelve months, Mineral Wells's appreciation rate has been 2.19%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Mineral Wells were at 0.70%, which equates to an annual appreciation rate of 2.81%.

Relative to Texas, our data show that Mineral Wells's latest annual appreciation rate is lower 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 Mineral Wells differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Mineral Wells - 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 Mineral Wells real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$88,837

Mineral Wells, TX HOME PRICES

Value Range
> $1,065,000 0.2
$798,001 - $1,065,000 0.2
$532,001 - $798,000 1.8
$426,001 - $532,000 1.4
$319,001 - $426,000 2.5
$213,001 - $319,000 8.1
$107,001 - $213,000 19.0
$53,001 - $107,000 34.3
$0 - $53,000 32.5

Low for TX
Very Low for Nation

Value Relative to Nation Value Relative to State
84.8441345365053 75.1945525291829

Number Of Homes And Apartments:
5,279

Mineral Wells Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
TX*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
60.69% 2.79% 4 7
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,112 / per month

Homeownership Rate

Homeownership
Owners 47.82
Renters 52.18
Vacant 14.98

Housing Market Details

 

Age of Homes

AGE OF Mineral Wells HOMES
2000 or Newer 8.0
1970 - 1999 26.2
1940 - 1969 56.4
1939 or Older 9.4

Types of Homes

TYPE OF Mineral Wells HOMES
Single-Family 68.6
Townhomes 4.8
Small Apt. Buildings 9.8
Apt. Complexes 9.0
Mobile Homes 7.8
Other 0.0

Home Size

SIZE OF Mineral Wells HOMES
No Bedroom 2.38
1 Bedroom 8.33
2 Bedrooms 32.40
3 Bedrooms 47.25
4 Bedrooms 8.44
5 or more bedrooms 1.19