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 a population of 8,098, 3,140 total housing units (homes and apartments), and a median house value of $156,041, Richland Hills real estate and house prices are near the national average for all cities and towns.
Single-family detached homes are the single most common housing type in Richland Hills, accounting for 75.77% of the city's housing units. Other types of housing that are prevalent in Richland Hills include large apartment complexes or high rise apartments ( 16.78%), duplexes, homes converted to apartments or other small apartment buildings ( 4.62%), and a few row houses and other attached homes ( 1.79%).
The most prevalent building size and type in 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 63.27% owning and 36.73% 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. Richland Hills's housing was primarily built during this period, from the '40s through the '60s. A full 70.87% of the city's housing hails from this era. Other housing ages represented in Richland Hills include homes built between 1970-1999 ( 24.96%) and housing constructed between 2000 and later ( 4.17%).
Vacant housing appears to be an issue in Richland Hills. Fully 12.04% of the housing stock is classified as vacant. Left unchecked, vacant Richland Hills homes and apartments can be a drag on the real estate market, holding Richland Hills 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, Richland Hills has experienced some of the highest home appreciation rates of any community in the nation. Richland Hills real estate appreciated 34.84% over the last ten years, which is an average annual home appreciation rate of 3.03%, putting Richland Hills in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, 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 Richland Hills that despite a nationwide downturn in the housing market, Richland Hills real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Richland Hills appreciation rates continue to be some of the highest in America, at 12.43%, which is higher than appreciation rates in 97.97% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Richland Hills. Richland Hills appreciation rates in the latest quarter were at 2.35%, which equates to an annual appreciation rate of 9.75%.
Importantly, this makes 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 Richland Hills's latest annual appreciation rate is higher than 90% of the other cities and towns in Texas.
|$990,001 - $1,320,000||0.0|
|$660,001 - $990,000||0.0|
|$528,001 - $660,000||0.2|
|$396,001 - $528,000||1.3|
|$264,001 - $396,000||5.8|
|$132,001 - $264,000||49.1|
|$66,001 - $132,000||37.8|
|$0 - $66,000||4.6|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
2000 Q1 - 2017 Q1
|* 10 is highest|
|AGE OF Richland Hills HOMES|
|2000 or Newer||4.2|
|1970 - 1999||25.0|
|1940 - 1969||70.9|
|1939 or Older||0.0|
|TYPE OF Richland Hills HOMES|
|Small Apt. Buildings||4.6|
|SIZE OF Richland Hills HOMES|
|5 or more bedrooms||1.01|