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 86,635, 27,055 total housing units (homes and apartments), and a median house value of $228,909, house prices in Mission are solidly below the national average.
Single-family detached homes are the single most common housing type in Mission, accounting for 68.34% of the city's housing units. Other types of housing that are prevalent in Mission include mobile homes or trailers ( 12.87%), large apartment complexes or high rise apartments ( 8.65%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 6.56%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Mission. Owner-occupied housing accounts for 71.87% of Mission's homes, and 58.12% have either three or four bedrooms, which is average sized relative to America.
Mission homes and real estate are some of the newest in America. 48.46% of Mission'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 Mission real estate market has to offer. Quite a bit of the housing here was also built between 1970-1999 ( 43.98%), and between 1940-1969 ( 7.15%).
Vacant housing appears to be an issue in Mission. Fully 14.45% of the housing stock is classified as vacant. Left unchecked, vacant Mission homes and apartments can be a drag on the real estate market, holding Mission 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 Mission have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 94.55%, which ranks in the top 40% nationwide. This equates to an annual average Mission house appreciation rate of 6.88%.
Appreciation rates are so strong in Mission that despite a nationwide downturn in the housing market, Mission real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Mission appreciation rates continue to be some of the highest in America, at 13.09%, which is higher than appreciation rates in 99.11% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Mission. Mission appreciation rates in the latest quarter were at 1.87%, which equates to an annual appreciation rate of 7.68%.
Relative to Texas, our data show that Mission'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 Mission differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Mission - 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 Mission real estate investment or home purchase decisions.
$228,909
for Texas
for nation
27,055
$1,381 / per month