West University Place TX
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA



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West University Place, TX Real Estate Data

Source & Methodology

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.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q2 2019. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2017 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

West University Place Housing Market Information

With a population of 15,608, 5,470 total housing units (homes and apartments), and a median house value of $1,221,513, West University Place house prices are not only among the most expensive in Texas, West University Place real estate also is some of the most expensive in all of America.

West University Place is a city of large, single-family homes. In fact, there is a higher proportion of four, five or more bedroom homes in West University Place than is found in 98% of the communities in America.

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in West University Place. Owner-occupied housing accounts for 88.56% of West University Place's homes, and 73.76% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in West University Place 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 West University Place built between 1940-1969 ( 18.63%). A lesser amount of the housing stock also hails from between 2000 and later ( 18.50%). There's also some housing in West University Place built before 1939 ( 17.27%).

West University Place Home Appreciation Rates

In the last 10 years, West University Place has experienced some of the highest home appreciation rates of any community in the nation. West University Place real estate appreciated 49.83% over the last ten years, which is an average annual home appreciation rate of 4.13%, putting West University Place in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, West University Place 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 West University Place that despite a nationwide downturn in the housing market, West University Place real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, West University Place appreciation rates continue to be some of the highest in America, at 4.88%, which is higher than appreciation rates in 71.86% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in West University Place. West University Place appreciation rates in the latest quarter were at 2.35%, which equates to an annual appreciation rate of 9.72%.

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

Average Home Values

 

Median Home Value:
$1,221,513

West University Place, TX HOME PRICES

Value Range
> $1,178,000 49.3
$884,001 - $1,178,000 22.8
$589,001 - $884,000 13.9
$471,001 - $589,000 5.7
$353,001 - $471,000 0.8
$236,001 - $353,000 2.7
$118,001 - $236,000 2.2
$59,001 - $118,000 1.1
$0 - $59,000 1.4

Very High for TX
Very High for Nation

Value Relative to Nation Value Relative to State
0.712408759124088 0.678952473326867

Number Of Homes And Apartments:
5,470

West University Place Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
TX*
Compared To
America*
Latest Quarter:
2019 Q1 - 2019 Q2
Last 12 Months:
2018 Q2 - 2019 Q2
Last 2 Years:
2017 Q2 - 2019 Q2
Last 5 Years:
2014 Q2 - 2019 Q2
Last 10 Years:
2009 Q2 - 2019 Q2
Since 2000:
2000 Q1 - 2019 Q2
143.95% 4.68%
10
10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,683 / per month

Homeownership Rate

Homeownership
Owners 88.56
Renters 11.44
Vacant 5.45

Housing Market Details

 

Age of Homes

AGE OF West University Place HOMES
2000 or Newer 18.5
1970 - 1999 45.6
1940 - 1969 18.6
1939 or Older 17.3

Types of Homes

TYPE OF West University Place HOMES
Single-Family 94.4
Townhomes 4.7
Small Apt. Buildings 0.4
Apt. Complexes 0.4
Mobile Homes 0.1
Other 0.0

Home Size

SIZE OF West University Place HOMES
No Bedroom 0.22
1 Bedroom 0.00
2 Bedrooms 12.12
3 Bedrooms 29.30
4 Bedrooms 44.46
5 or more bedrooms 13.90