San Benito, TX
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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San Benito, TX Real Estate Data


San Benito Housing Market Information

With 24,496 people, 7,329 houses or apartments, and a median cost of homes of $60,331, house prices in San Benito 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 San Benito, accounting for 65.78% of the city's housing units. Other types of housing that are prevalent in San Benito include mobile homes or trailers ( 14.38%), large apartment complexes or high rise apartments ( 9.54%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 7.81%).

Dwellings in San Benito tend to be quite small (one, two, or no bedrooms) and owner occupied. In fact, 51.50% of the homes in San Benito have two or fewer bedrooms.

There is a lot of housing in San Benito 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 San Benito built between 1940-1969 ( 30.93%). A lesser amount of the housing stock also hails from between 2000 and later ( 15.67%). There's also some housing in San Benito built before 1939 ( 8.72%).

Vacant housing appears to be an issue in San Benito. Fully 16.04% of the housing stock is classified as vacant. Left unchecked, vacant San Benito homes and apartments can be a drag on the real estate market, holding San Benito 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.

San Benito Home Appreciation Rates

Appreciation rates for homes in San Benito have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 8.14%, which ranks in the top 40% nationwide. This equates to an annual average San Benito house appreciation rate of 0.79%.

Over the last year, San Benito appreciation rates have trailed the rest of the nation. In the last twelve months, San Benito's appreciation rate has been -0.58%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in San Benito were at -2.21%, which equates to an annual appreciation rate of -8.54%.

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

Relative to Texas, our data show that San Benito'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 San Benito differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in San Benito - 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 San Benito real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$60,331

San Benito, TX HOME PRICES

Value Range
> $1,067,000 1.6
$800,001 - $1,067,000 0.0
$534,001 - $800,000 0.8
$427,001 - $534,000 0.3
$320,001 - $427,000 1.1
$214,001 - $320,000 2.0
$107,001 - $214,000 13.7
$53,001 - $107,000 34.7
$0 - $53,000 45.6

Very Low for TX
Very Low for Nation

Value Relative to Nation Value Relative to State
98.1788370322656 96.504854368932

Number Of Homes And Apartments:
7,329

Rent & Ownership

 

Average Market Rent:
$617 / per month

Homeownership Rate

Homeownership
Owners 66.06
Renters 33.94
Vacant 16.04

Housing Market Details

 

Age of Homes

AGE OF San Benito HOMES
2000 or Newer 15.7
1970 - 1999 44.7
1940 - 1969 30.9
1939 or Older 8.7

Types of Homes

TYPE OF San Benito HOMES
Single-Family 65.8
Townhomes 1.5
Small Apt. Buildings 7.8
Apt. Complexes 9.5
Mobile Homes 14.4
Other 1.0

Home Size

SIZE OF San Benito HOMES
No Bedroom 1.43
1 Bedroom 14.82
2 Bedrooms 35.24
3 Bedrooms 36.37
4 Bedrooms 9.71
5 or more bedrooms 2.42

San Benito 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
26.69% 1.40% 1 3
* 10 is highest