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 about Scout's Real Estate Data
With a population of 11,619, 3,844 total housing units (homes and apartments), and a median house value of $271,780, Selma 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 Selma, accounting for 70.38% of the city's housing units. Other types of housing that are prevalent in Selma include large apartment complexes or high rise apartments ( 20.01%), duplexes, homes converted to apartments or other small apartment buildings ( 7.54%), and a few row houses and other attached homes ( 2.07%).
The most prevalent building size and type in Selma are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 52.03% owning and 47.97% renting.
Selma homes and real estate are some of the newest in America. 86.29% of Selma's housing was built since 2000, making the city have a very new look and feel. If you like the amenities of newer homes and subdivisions, then you will probably like what the Selma real estate market has to offer. Quite a bit of the housing here was also built between 1970-1999 ( 13.21%), and between 1940-1969 ( 0.51%).
Appreciation rates for homes in Selma have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 87.60%, which ranks in the top 40% nationwide. This equates to an annual average Selma house appreciation rate of 6.49%.
NeighborhoodScout's data show that during the latest twelve months, Selma's appreciation rate, at 4.97%, has been at or slightly above the national average. In the latest quarter, Selma's appreciation rate has been 1.15%, which annualizes to a rate of 4.70%.
Notably, Selma's appreciation rate in the latest quarter is one of the lowest in America.
Relative to Texas, our data show that Selma's latest annual appreciation rate is lower than 60% of the other cities and towns in Texas.
$2,486 / per month