Prosper, 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 Q1 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

Prosper, TX Housing Market Trends

With a population of 24,579, 6,634 total housing units (homes and apartments), and a median house value of $563,946, Prosper house prices are not only among the most expensive in Texas, Prosper real estate also is some of the most expensive in all of America.

Prosper is a town of large, single-family homes. In fact, there is a higher proportion of four, five or more bedroom homes in Prosper than is found in 98% of the communities in America.

The large homes that make up Prosper are primarily owner-occupied ( 86.45%).

Prosper homes and real estate are some of the newest in America. 86.47% of Prosper's housing was built since 2000, making the town have a very new look and feel. If you like the amenities of newer homes and subdivisions, then you will probably like what the Prosper real estate market has to offer. Quite a bit of the housing here was also built between 1970-1999 ( 11.33%), and between 1940-1969 ( 1.57%).

Prosper Home Appreciation Rates

In the last 10 years, Prosper has experienced some of the highest home appreciation rates of any community in the nation. Prosper real estate appreciated 85.57% over the last ten years, which is an average annual home appreciation rate of 6.38%, putting Prosper in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Prosper definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

Over the last year, Prosper appreciation rates have trailed the rest of the nation. In the last twelve months, Prosper's appreciation rate has been 4.90%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Prosper were at 1.42%, which equates to an annual appreciation rate of 5.80%.

Relative to Texas, our data show that Prosper's latest annual appreciation rate is lower than 70% of the other cities and towns in Texas.

Average Home Values

 

Median Home Value:
$563,946

Prosper, TX HOME PRICES

> $1,197,000
2.9%
2.9%
$898,001 - $1,197,000
5.6%
5.6%
$598,001 - $898,000
28.9%
28.9%
$479,001 - $598,000
24.8%
24.8%
$359,001 - $479,000
19.9%
19.9%
$239,001 - $359,000
9.7%
9.7%
$120,001 - $239,000
5.6%
5.6%
$60,001 - $120,000
1.8%
1.8%
$0 - $60,000
0.8%
0.8%
0.0% 100.0%
% OF HOMES
Value Relative To State

Very High for Nation

Very High for TX

Value Relative To Nation

Number Of Homes And Apartments:
6,634

Prosper Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
TX*
Compared To
America*
Latest Quarter:
2020 Q4 - 2021 Q1
Last 12 Months:
2020 Q1 - 2021 Q1
Last 2 Years:
2019 Q1 - 2021 Q1
Last 5 Years:
2016 Q1 - 2021 Q1
Last 10 Years:
2011 Q1 - 2021 Q1
Since 2000:
2000 Q1 - 2021 Q1
125.91% 3.91%
7
9
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,820 / per month

Homeownership Rate

Owners
86.4%
86.4%
Renters
13.6%
13.6%
Vacant
6.4%
6.4%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
86.5%
86.5%
1970 - 1999
11.3%
11.3%
1940 - 1969
1.6%
1.6%
1939 or Older
0.6%
0.6%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
89.7%
89.7%
Townhomes
0.5%
0.5%
Small Apt. Buildings
0.8%
0.8%
Apt. Complexes
8.3%
8.3%
Mobile Homes
0.6%
0.6%
Other
0.1%
0.1%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
0.3%
0.3%
1 Bedroom
6.2%
6.2%
2 Bedrooms
4.1%
4.1%
3 Bedrooms
19.7%
19.7%
4 Bedrooms
44.7%
44.7%
5 or more bedrooms
25.1%
25.1%
0.0% 100.0%
% OF HOMES