Monahans TX
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA



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Monahans, 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 Q2 2019. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2017 (latest available). Updated annually.

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

Monahans Housing Market Information

With 7,520 people, 2,540 houses or apartments, and a median cost of homes of $149,773, 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 78.10% of the city's housing units. Other types of housing that are prevalent in Monahans include mobile homes or trailers ( 9.60%), duplexes, homes converted to apartments or other small apartment buildings ( 6.83%), and a few large apartment complexes or high rise apartments ( 4.80%).

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 66.61% of Monahans's homes, and 64.55% 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 52.01% of the city's housing hails from this era. Other housing ages represented in Monahans include homes built between 1970-1999 ( 37.38%) and housing constructed between 2000 and later ( 7.64%). There's also some housing in Monahans built before 1939 ( 2.97%).

Vacant housing appears to be an issue in Monahans. Fully 14.16% 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 90.05% over the last ten years, which is an average annual home appreciation rate of 6.63%, 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.

Appreciation rates are so strong in Monahans that despite a nationwide downturn in the housing market, Monahans real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Monahans appreciation rates continue to be some of the highest in America, at 7.47%, which is higher than appreciation rates in 92.65% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Monahans. Monahans appreciation rates in the latest quarter were at 0.59%, which equates to an annual appreciation rate of 2.39%.

Relative to Texas, our data show that Monahans's latest annual appreciation rate is higher than 90% of the other cities and towns in Texas.

Average Home Values

 

Median Home Value:
$149,773

Monahans, TX HOME PRICES

Value Range
> $1,276,000 1.7
$958,001 - $1,276,000 0.3
$638,001 - $958,000 0.5
$511,001 - $638,000 0.4
$383,001 - $511,000 0.1
$255,001 - $383,000 7.9
$127,001 - $255,000 28.9
$64,001 - $127,000 37.2
$0 - $64,000 22.8

Average for TX
Average for Nation

Value Relative to Nation Value Relative to State
57.5649635036496 42.7740058195926

Number Of Homes And Apartments:
2,540

Monahans Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
TX*
Compared To
America*
Latest Quarter:
2019 Q1 - 2019 Q2
Last 12 Months:
2018 Q2 - 2019 Q2
Last 2 Years:
2017 Q2 - 2019 Q2
Last 5 Years:
2014 Q2 - 2019 Q2
Last 10 Years:
2009 Q2 - 2019 Q2
Since 2000:
2000 Q1 - 2019 Q2
201.09% 5.82%
10
10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,105 / per month

Homeownership Rate

Homeownership
Owners 66.61
Renters 33.39
Vacant 14.16

Housing Market Details

 

Age of Homes

AGE OF Monahans HOMES
2000 or Newer 7.6
1970 - 1999 37.4
1940 - 1969 52.0
1939 or Older 3.0

Types of Homes

TYPE OF Monahans HOMES
Single-Family 78.1
Townhomes 0.7
Small Apt. Buildings 6.8
Apt. Complexes 4.8
Mobile Homes 9.6
Other 0.0

Home Size

SIZE OF Monahans HOMES
No Bedroom 4.60
1 Bedroom 6.86
2 Bedrooms 23.35
3 Bedrooms 51.13
4 Bedrooms 13.42
5 or more bedrooms 0.64

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Zip Codes in Monahans, TX