Monahans, TX
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Monahans, TX Real Estate Data


Monahans Housing Market Information

With 7,690 people, 2,522 houses or apartments, and a median cost of homes of $99,039, house prices in Monahans are solidly below the national average.

Single-family detached homes are the single most common housing type in Monahans, accounting for 74.82% of the city's housing units. Other types of housing that are prevalent in Monahans include duplexes, homes converted to apartments or other small apartment buildings ( 8.95%), large apartment complexes or high rise apartments ( 8.18%), and a few mobile homes or trailers ( 7.14%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Monahans. Owner-occupied housing accounts for 65.98% of Monahans's homes, and 57.52% have either three or four bedrooms, which is average sized relative to America.

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. Monahans's housing was primarily built during this period, from the '40s through the '60s. A full 52.34% of the city's housing hails from this era. Other housing ages represented in Monahans include homes built between 1970-1999 ( 41.06%) and housing constructed between 2000 and later ( 3.30%). There's also some housing in Monahans built before 1939 ( 3.30%).

Vacant housing appears to be an issue in Monahans. Fully 15.11% of the housing stock is classified as vacant. Left unchecked, vacant Monahans homes and apartments can be a drag on the real estate market, holding Monahans 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.

Monahans Home Appreciation Rates

In the last 10 years, Monahans has experienced some of the highest home appreciation rates of any community in the nation. Monahans real estate appreciated 76.94% over the last ten years, which is an average annual home appreciation rate of 5.87%, putting Monahans in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Monahans 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, Monahans's appreciation rate, at 5.62%, has been at or slightly above the national average. In the latest quarter, Monahans's appreciation rate has been 2.87%, which annualizes to a rate of 11.99%.

Importantly, this makes Monahans 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 Monahans's latest annual appreciation rate is lower than 70% of the other cities and towns in Texas.

Average Home Values

 

Median Home Value:
$99,039

Monahans, TX HOME PRICES

Value Range
> $1,255,000 0.5
$940,001 - $1,255,000 0.0
$627,001 - $940,000 0.5
$502,001 - $627,000 1.5
$377,001 - $502,000 1.6
$251,001 - $377,000 4.6
$126,001 - $251,000 28.9
$63,001 - $126,000 31.0
$0 - $63,000 31.2

Low for TX
Low for Nation

Value Relative to Nation Value Relative to State
79.375768577619 67.4757281553398

Number Of Homes And Apartments:
2,522

Rent & Ownership

 

Average Market Rent:
$813 / per month

Homeownership Rate

Homeownership
Owners 65.98
Renters 34.02
Vacant 15.11

Housing Market Details

 

Age of Homes

AGE OF Monahans HOMES
2000 or Newer 3.3
1970 - 1999 41.1
1940 - 1969 52.3
1939 or Older 3.3

Types of Homes

TYPE OF Monahans HOMES
Single-Family 74.8
Townhomes 0.9
Small Apt. Buildings 9.0
Apt. Complexes 8.2
Mobile Homes 7.1
Other 0.0

Home Size

SIZE OF Monahans HOMES
No Bedroom 8.31
1 Bedroom 10.97
2 Bedrooms 23.19
3 Bedrooms 45.98
4 Bedrooms 11.54
5 or more bedrooms 0.00

Monahans Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
TX*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
123.56% 4.85% 10 10
* 10 is highest

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Zip Codes in Monahans, TX