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 677,456, 239,624 total housing units (homes and apartments), and a median house value of $229,385, house prices in El Paso are solidly below the national average.
Single-family detached homes are the single most common housing type in El Paso, accounting for 66.90% of the city's housing units. Other types of housing that are prevalent in El Paso include large apartment complexes or high rise apartments ( 18.95%), duplexes, homes converted to apartments or other small apartment buildings ( 7.38%), and a few row houses and other attached homes ( 3.86%).
The most prevalent building size and type in El Paso are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 58.94% owning and 41.06% renting.
There is a lot of housing in El Paso 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 El Paso built between 2000 and later ( 27.16%). A lesser amount of the housing stock also hails from between 1940-1969 ( 25.12%). There's also some housing in El Paso built before 1939 ( 4.77%).
Real estate appreciation rates in El Paso's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 6.34% during the period.
NeighborhoodScout's data show that during the latest twelve months, El Paso's appreciation rate, at 7.87%, has been at or slightly above the national average. In the latest quarter, El Paso's appreciation rate has been 3.48%, which annualizes to a rate of 14.67%.
Importantly, this makes El Paso 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 El Paso's latest annual appreciation rate is higher 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 El Paso differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in El Paso - 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 El Paso real estate investment or home purchase decisions.
$229,385
for Texas
for nation
239,624
$1,940 / per month