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 39,474 people, 12,223 houses or apartments, and a median cost of homes of $67,070, house prices in Weslaco 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 Weslaco, accounting for 55.92% of the city's housing units. Other types of housing that are prevalent in Weslaco include mobile homes or trailers ( 20.67%), duplexes, homes converted to apartments or other small apartment buildings ( 10.68%), and a few large apartment complexes or high rise apartments ( 10.30%).
People in Weslaco primarily live in small (one, two or no bedroom) single-family detached homes. Weslaco has a mixture of owner-occupied and renter-occupied housing.
There is a lot of housing in Weslaco 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 Weslaco built between 2000 and later ( 25.32%). A lesser amount of the housing stock also hails from between 1940-1969 ( 19.66%). There's also some housing in Weslaco built before 1939 ( 1.11%).
Vacant housing appears to be an issue in Weslaco. Fully 19.02% of the housing stock is classified as vacant. Left unchecked, vacant Weslaco homes and apartments can be a drag on the real estate market, holding Weslaco 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.
Appreciation rates for homes in Weslaco have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 2.14%, which ranks in the top 50% nationwide. This equates to an annual average Weslaco house appreciation rate of 0.21%.
Over the last year, Weslaco appreciation rates have trailed the rest of the nation. In the last twelve months, Weslaco's appreciation rate has been -0.61%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Weslaco were at -2.45%, which equates to an annual appreciation rate of -9.46%.
Notably, Weslaco's appreciation rate in the latest quarter is one of the lowest in America.
Relative to Texas, our data show that Weslaco'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 Weslaco differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Weslaco - 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 Weslaco real estate investment or home purchase decisions.
|$784,001 - $1,046,000||0.1|
|$523,001 - $784,000||0.4|
|$419,001 - $523,000||0.0|
|$314,001 - $419,000||1.8|
|$209,001 - $314,000||3.2|
|$105,001 - $209,000||25.7|
|$52,001 - $105,000||35.4|
|$0 - $52,000||32.8|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
2017 Q1 - 2017 Q2
Last 12 Months:
2016 Q2 - 2017 Q2
Last 2 Years:
2015 Q2 - 2017 Q2
Last 5 Years:
2012 Q2 - 2017 Q2
Last 10 Years:
2007 Q2 - 2017 Q2
2000 Q1 - 2017 Q2
|* 10 is highest|
|AGE OF Weslaco HOMES|
|2000 or Newer||25.3|
|1970 - 1999||53.9|
|1940 - 1969||19.7|
|1939 or Older||1.1|
|TYPE OF Weslaco HOMES|
|Small Apt. Buildings||10.7|
|SIZE OF Weslaco HOMES|
|5 or more bedrooms||2.03|