Housing Report for McAllen-Edinburg-Pharr
Looking across the State of Texas, McAllen-Edinburg-Pharr ranks 1 of the 25 metro areas by percentage growth in residential real estate. The metro area is positioned 12 of 361, comparing the percentage change in residential real estate in other US MSAs.
The residential real estate values in McAllen-Edinburg-Pharr, Texas have experienced moderate increases since their reported values in 2000. The values have increased by $8,800, or 16.8 percent, since 2000 when their medians were valued at $52,400.
McAllen-Edinburg-Pharr had a median home value in the year 2005 of $61,200, reported by the American Community Survey. This value is less than the overall Texas 2005 median home value of $106,000 and less than median owner-occupied dwelling value of $167,500 for the United States in the same year.
McAllen-Edinburg-Pharr may be described as having a small, but present proportion of high-valued homes. For the year 2005, the American Community Survey counted that 0.4 percent of owner-occupied dwellings were valued over a half a million dollars.
In McAllen-Edinburg-Pharr, the real estate market was made up of 231,571 homes in 2005. The metro area has experienced a high level of growth of new homes, adding a sum of 30,570 residential structures since 2001, a change of 15.2 percent.
According to the data, there is a large amount of real estate that is affordable in McAllen-Edinburg-Pharr, Texas. In 2005, 85.6 percent of owner-occupied dwellings were valued under $125k.
Data Source: U.S. Census Bureau
The residential real estate values in McAllen-Edinburg-Pharr, Texas have experienced moderate increases since their reported values in 2000. The values have increased by $8,800, or 16.8 percent, since 2000 when their medians were valued at $52,400.
McAllen-Edinburg-Pharr had a median home value in the year 2005 of $61,200, reported by the American Community Survey. This value is less than the overall Texas 2005 median home value of $106,000 and less than median owner-occupied dwelling value of $167,500 for the United States in the same year.
McAllen-Edinburg-Pharr may be described as having a small, but present proportion of high-valued homes. For the year 2005, the American Community Survey counted that 0.4 percent of owner-occupied dwellings were valued over a half a million dollars.
In McAllen-Edinburg-Pharr, the real estate market was made up of 231,571 homes in 2005. The metro area has experienced a high level of growth of new homes, adding a sum of 30,570 residential structures since 2001, a change of 15.2 percent.
According to the data, there is a large amount of real estate that is affordable in McAllen-Edinburg-Pharr, Texas. In 2005, 85.6 percent of owner-occupied dwellings were valued under $125k.
Data Source: U.S. Census Bureau
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