Richardson TX
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA



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Richardson, 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 2020. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2018 (latest available). Updated annually.

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

Richardson Housing Market Information

With 120,981 people, 42,723 houses or apartments, and a median cost of homes of $272,434, Richardson real estate is some of the most expensive in Texas, although Richardson home values aren't among America's most expensive.

Single-family detached homes are the single most common housing type in Richardson, accounting for 62.77% of the city's housing units. Other types of housing that are prevalent in Richardson include large apartment complexes or high rise apartments ( 28.60%), duplexes, homes converted to apartments or other small apartment buildings ( 4.91%), and a few row houses and other attached homes ( 3.38%).

The most prevalent building size and type in Richardson are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 57.95% owning and 42.05% renting.

There is a lot of housing in Richardson 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 Richardson built between 1940-1969 ( 26.39%). A lesser amount of the housing stock also hails from between 2000 and later ( 16.88%).

Richardson Home Appreciation Rates

In the last 10 years, Richardson has experienced some of the highest home appreciation rates of any community in the nation. Richardson real estate appreciated 77.82% over the last ten years, which is an average annual home appreciation rate of 5.92%, putting Richardson in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Richardson 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, Richardson appreciation rates have trailed the rest of the nation. In the last twelve months, Richardson's appreciation rate has been 2.53%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Richardson were at 0.30%, which equates to an annual appreciation rate of 1.20%.

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

Average Home Values

 

Median Home Value:
$272,434

Richardson, TX HOME PRICES

Value Range
> $1,254,000 1.1
$941,001 - $1,254,000 0.5
$627,001 - $941,000 2.8
$502,001 - $627,000 8.9
$376,001 - $502,000 18.9
$251,001 - $376,000 31.5
$125,001 - $251,000 31.6
$63,001 - $125,000 3.4
$0 - $63,000 1.2

Very High for TX
High for Nation

Value Relative to Nation Value Relative to State
25.2496350364963 11.7361784675073

Number Of Homes And Apartments:
42,723

Richardson Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
TX*
Compared To
America*
Latest Quarter:
2020 Q1 - 2020 Q2
Last 12 Months:
2019 Q2 - 2020 Q2
Last 2 Years:
2018 Q2 - 2020 Q2
Last 5 Years:
2015 Q2 - 2020 Q2
Last 10 Years:
2010 Q2 - 2020 Q2
Since 2000:
2000 Q1 - 2020 Q2
119.10% 3.90%
7
9
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,894 / per month

Homeownership Rate

Homeownership
Owners 57.95
Renters 42.05
Vacant 5.67

Housing Market Details

 

Age of Homes

AGE OF Richardson HOMES
2000 or Newer 16.9
1970 - 1999 56.2
1940 - 1969 26.4
1939 or Older 0.5

Types of Homes

TYPE OF Richardson HOMES
Single-Family 62.8
Townhomes 3.4
Small Apt. Buildings 4.9
Apt. Complexes 28.6
Mobile Homes 0.3
Other 0.0

Home Size

SIZE OF Richardson HOMES
No Bedroom 1.10
1 Bedroom 15.33
2 Bedrooms 17.52
3 Bedrooms 34.13
4 Bedrooms 27.40
5 or more bedrooms 4.52