Rusk, TX
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Rusk, TX Real Estate Data


Rusk Housing Market Information

With 5,618 people, 1,166 houses or apartments, and a median cost of homes of $78,008, house prices in Rusk 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 Rusk, accounting for 83.27% of the city's housing units. Other types of housing that are prevalent in Rusk include mobile homes or trailers ( 8.67%), duplexes, homes converted to apartments or other small apartment buildings ( 3.42%), and a few large apartment complexes or high rise apartments ( 3.19%).

The most prevalent building size and type in Rusk are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 38.15% owning and 61.85% 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. Rusk's housing was primarily built during this period, from the '40s through the '60s. A full 43.50% of the city's housing hails from this era. Other housing ages represented in Rusk include homes built between 1970-1999 ( 34.60%) and housing constructed before 1939 ( 15.82%). There's also some housing in Rusk built between 2000 and later ( 6.08%).

Vacant housing appears to be an issue in Rusk. Fully 11.33% of the housing stock is classified as vacant. Left unchecked, vacant Rusk homes and apartments can be a drag on the real estate market, holding Rusk 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.

Rusk Home Appreciation Rates

In the last 10 years, Rusk has experienced some of the highest home appreciation rates of any community in the nation. Rusk real estate appreciated 20.64% over the last ten years, which is an average annual home appreciation rate of 1.89%, putting Rusk in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Rusk 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 Rusk that despite a nationwide downturn in the housing market, Rusk real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Rusk appreciation rates continue to be some of the highest in America, at 7.28%, which is higher than appreciation rates in 86.88% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Rusk. Rusk appreciation rates in the latest quarter were at 2.87%, which equates to an annual appreciation rate of 11.99%.

Importantly, this makes Rusk 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 Rusk's latest annual appreciation rate is higher than 60% of the other cities and towns in Texas.

Average Home Values

 

Median Home Value:
$78,008

Rusk, TX HOME PRICES

Value Range
> $1,168,000 0.2
$876,001 - $1,168,000 0.0
$584,001 - $876,000 0.0
$468,001 - $584,000 0.8
$351,001 - $468,000 2.3
$233,001 - $351,000 4.1
$116,001 - $233,000 13.2
$59,001 - $116,000 44.3
$0 - $59,000 35.1

Very Low for TX
Very Low for Nation

Value Relative to Nation Value Relative to State
92.2351701118463 86.6990291262136

Number Of Homes And Apartments:
1,166

Rent & Ownership

 

Average Market Rent:
$670 / per month

Homeownership Rate

Homeownership
Owners 38.15
Renters 61.85
Vacant 11.33

Housing Market Details

 

Age of Homes

AGE OF Rusk HOMES
2000 or Newer 6.1
1970 - 1999 34.6
1940 - 1969 43.5
1939 or Older 15.8

Types of Homes

TYPE OF Rusk HOMES
Single-Family 83.3
Townhomes 0.4
Small Apt. Buildings 3.4
Apt. Complexes 3.2
Mobile Homes 8.7
Other 1.1

Home Size

SIZE OF Rusk HOMES
No Bedroom 0.00
1 Bedroom 3.50
2 Bedrooms 32.93
3 Bedrooms 50.95
4 Bedrooms 10.72
5 or more bedrooms 1.90

Rusk Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
TX*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
58.02% 2.73% 3 7
* 10 is highest

Popular Neighborhoods in Rusk

Zip Codes in Rusk, TX