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 7,669 people, 2,570 houses or apartments, and a median cost of homes of $157,099, 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 77.33% of the city's housing units. Other types of housing that are prevalent in Monahans include mobile homes or trailers ( 9.91%), duplexes, homes converted to apartments or other small apartment buildings ( 7.32%), and a few large apartment complexes or high rise apartments ( 4.64%).
The most prevalent building size and type in Monahans are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 64.46% owning and 35.54% 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. Monahans's housing was primarily built during this period, from the '40s through the '60s. A full 50.66% of the city's housing hails from this era. Other housing ages represented in Monahans include homes built between 1970-1999 ( 40.51%) and housing constructed between 2000 and later ( 6.95%). There's also some housing in Monahans built before 1939 ( 1.88%).
Vacant housing appears to be an issue in Monahans. Fully 13.67% 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.
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 108.19% over the last ten years, which is an average annual home appreciation rate of 7.61%, 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 9.67%, which is higher than appreciation rates in 92.80% 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 0.53%, which equates to an annual appreciation rate of 2.14%.
Notably, Monahans's appreciation rate in the latest quarter is one of the lowest in America.
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.
|$987,001 - $1,316,000||0.5|
|$658,001 - $987,000||0.3|
|$527,001 - $658,000||0.4|
|$395,001 - $527,000||0.4|
|$263,001 - $395,000||8.3|
|$132,001 - $263,000||30.9|
|$66,001 - $132,000||30.5|
|$0 - $66,000||27.1|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
2019 Q4 - 2020 Q1
Last 12 Months:
2019 Q1 - 2020 Q1
Last 2 Years:
2018 Q1 - 2020 Q1
Last 5 Years:
2015 Q1 - 2020 Q1
Last 10 Years:
2010 Q1 - 2020 Q1
2000 Q1 - 2020 Q1
|* 10 is highest|
|AGE OF Monahans HOMES|
|2000 or Newer||7.0|
|1970 - 1999||40.5|
|1940 - 1969||50.7|
|1939 or Older||1.9|
|TYPE OF Monahans HOMES|
|Small Apt. Buildings||7.3|
|SIZE OF Monahans HOMES|
|5 or more bedrooms||1.21|