North Richland Hills, TX Real Estate Market

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 Q3 2021. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

North Richland Hills, TX Housing Market Trends

With a population of 69,917, 26,500 total housing units (homes and apartments), and a median house value of $260,773, North Richland Hills real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in North Richland Hills, accounting for 65.62% of the city's housing units. Other types of housing that are prevalent in North Richland Hills include large apartment complexes or high rise apartments ( 24.42%), duplexes, homes converted to apartments or other small apartment buildings ( 4.62%), and a few row houses and other attached homes ( 3.86%).

The most prevalent building size and type in North Richland Hills are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 61.90% owning and 38.10% renting.

There is a lot of housing in North Richland Hills 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 North Richland Hills built between 2000 and later ( 21.29%). A lesser amount of the housing stock also hails from between 1940-1969 ( 16.06%).

North Richland Hills Home Appreciation Rates

In the last 10 years, North Richland Hills has experienced some of the highest home appreciation rates of any community in the nation. North Richland Hills real estate appreciated 114.26% over the last ten years, which is an average annual home appreciation rate of 7.92%, putting North Richland Hills in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, North Richland Hills 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 North Richland Hills that despite a nationwide downturn in the housing market, North Richland Hills real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, North Richland Hills appreciation rates continue to be some of the highest in America, at 15.40%, which is higher than appreciation rates in 75.50% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in North Richland Hills. North Richland Hills appreciation rates in the latest quarter were at 6.66%, which equates to an annual appreciation rate of 29.44%.

Importantly, this makes North Richland Hills 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 North Richland Hills's latest annual appreciation rate is higher 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 North Richland Hills differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in North Richland Hills - 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 North Richland Hills real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$260,773

North Richland Hills, TX HOME PRICES

> $1,419,000
0.4%
0.4%
$1,064,001 - $1,419,000
0.1%
0.1%
$709,001 - $1,064,000
2.6%
2.6%
$568,001 - $709,000
6.3%
6.3%
$426,001 - $568,000
11.4%
11.4%
$284,001 - $426,000
26.0%
26.0%
$142,001 - $284,000
42.4%
42.4%
$71,001 - $142,000
8.6%
8.6%
$0 - $71,000
2.0%
2.0%
0.0% 100.0%
% OF HOMES
Value Relative To State

High for Nation

High for TX

Value Relative To Nation

Number Of Homes And Apartments:
26,500

North Richland Hills Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
TX*
Compared To
America*
Latest Quarter:
2021 Q2 - 2021 Q3
Last 12 Months:
2020 Q3 - 2021 Q3
Last 2 Years:
2019 Q3 - 2021 Q3
Last 5 Years:
2016 Q3 - 2021 Q3
Last 10 Years:
2011 Q3 - 2021 Q3
Since 2000:
2000 Q1 - 2021 Q3
149.77% 4.30%
7
9
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,869 / per month

Homeownership Rate

Owners
61.9%
61.9%
Renters
38.1%
38.1%
Vacant
4.9%
4.9%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
21.3%
21.3%
1970 - 1999
62.6%
62.6%
1940 - 1969
16.1%
16.1%
1939 or Older
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
65.6%
65.6%
Townhomes
3.9%
3.9%
Small Apt. Buildings
4.6%
4.6%
Apt. Complexes
24.4%
24.4%
Mobile Homes
1.4%
1.4%
Other
0.1%
0.1%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
1.9%
1.9%
1 Bedroom
12.2%
12.2%
2 Bedrooms
18.2%
18.2%
3 Bedrooms
44.9%
44.9%
4 Bedrooms
20.2%
20.2%
5 or more bedrooms
2.6%
2.6%
0.0% 100.0%
% OF HOMES