Pharr, TX
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Pharr, 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 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

Pharr Housing Market Information

With a population of 76,538, 20,402 total housing units (homes and apartments), and a median house value of $75,057, house prices in Pharr are some of the most affordable in Texas as well as the nation.

Single-family detached homes are the single most common housing type in Pharr, accounting for 60.57% of the city's housing units. Other types of housing that are prevalent in Pharr include mobile homes or trailers ( 16.22%), duplexes, homes converted to apartments or other small apartment buildings ( 14.70%), and a few large apartment complexes or high rise apartments ( 5.66%).

The most prevalent building size and type in Pharr are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 61.11% owning and 38.89% renting.

Pharr homes and real estate are some of the newest in America. 44.83% of Pharr's housing was built since 2000, making the city have a very new look and feel. If you like the amenities of newer homes and subdivisions, then you will probably like what the Pharr real estate market has to offer. Quite a bit of the housing here was also built between 1970-1999 ( 41.85%), and between 1940-1969 ( 10.81%). There's also some housing in Pharr built before 1939 ( 2.50%).

Vacant housing appears to be an issue in Pharr. Fully 12.07% of the housing stock is classified as vacant. Left unchecked, vacant Pharr homes and apartments can be a drag on the real estate market, holding Pharr 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.

Pharr Home Appreciation Rates

Appreciation rates for homes in Pharr have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 4.34%, which ranks in the top 50% nationwide. This equates to an annual average Pharr house appreciation rate of 0.43%.

Over the last year, Pharr appreciation rates have trailed the rest of the nation. In the last twelve months, Pharr's appreciation rate has been -0.89%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Pharr were at -2.45%, which equates to an annual appreciation rate of -9.46%.

Notably, Pharr's appreciation rate in the latest quarter is one of the lowest in America.

Relative to Texas, our data show that Pharr's latest annual appreciation rate is lower than 90% 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 Pharr differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Pharr - 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 Pharr real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$75,057

Pharr, TX HOME PRICES

Value Range
> $1,077,000 0.1
$808,001 - $1,077,000 0.1
$539,001 - $808,000 0.3
$431,001 - $539,000 0.4
$323,001 - $431,000 0.9
$216,001 - $323,000 1.7
$108,001 - $216,000 21.3
$54,001 - $108,000 46.7
$0 - $54,000 28.5

Very Low for TX
Very Low for Nation

Value Relative to Nation Value Relative to State
93.512500731893 86.9649805447471

Number Of Homes And Apartments:
20,402

Pharr Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
TX*
Compared To
America*
Latest Quarter:
2017 Q1 - 2017 Q2
Last 12 Months:
2016 Q2 - 2017 Q2
Last 2 Years:
2015 Q2 - 2017 Q2
Last 5 Years:
2012 Q2 - 2017 Q2
Last 10 Years:
2007 Q2 - 2017 Q2
Since 2000:
2000 Q1 - 2017 Q2
37.15% 1.82% 1 4
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$840 / per month

Homeownership Rate

Homeownership
Owners 61.11
Renters 38.89
Vacant 12.07

Housing Market Details

 

Age of Homes

AGE OF Pharr HOMES
2000 or Newer 44.8
1970 - 1999 41.9
1940 - 1969 10.8
1939 or Older 2.5

Types of Homes

TYPE OF Pharr HOMES
Single-Family 60.6
Townhomes 2.6
Small Apt. Buildings 14.7
Apt. Complexes 5.7
Mobile Homes 16.2
Other 0.3

Home Size

SIZE OF Pharr HOMES
No Bedroom 1.50
1 Bedroom 8.18
2 Bedrooms 32.29
3 Bedrooms 47.21
4 Bedrooms 9.27
5 or more bedrooms 1.55