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 17,310 people, 9,561 houses or apartments, and a median cost of homes of $546,230, Addison real estate is some of the most expensive in Texas, although Addison home values aren't among America's most expensive.
Large apartment complexes or high rise apartments are the single most common housing type in Addison, accounting for 73.15% of the town's housing units. Other types of housing that are prevalent in Addison include single-family detached homes ( 14.62%), duplexes, homes converted to apartments or other small apartment buildings ( 8.42%), and a few row houses and other attached homes ( 3.81%). Towns with mostly row houses, apartments, and other high density housing types are relatively uncommon, and characteristic of compact towns that frequently have a downtown or other neighborhoods where amenities are within walking distance and a lot of street life can be seen.
Addison is dominated by renter-occupied one, two, or no bedrooms apartments. 82.69% of Addison's dwellings are rentals.
There is a lot of housing in Addison 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 Addison built between 2000 and later ( 32.28%). A lesser amount of the housing stock also hails from between 1940-1969 ( 5.15%).
Appreciation rates for homes in Addison have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 88.24%, which ranks in the top 50% nationwide. This equates to an annual average Addison house appreciation rate of 6.53%.
Over the last year, Addison appreciation rates have trailed the rest of the nation. In the last twelve months, Addison's appreciation rate has been 4.50%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Addison were at 1.89%, which equates to an annual appreciation rate of 7.76%.
Relative to Texas, our data show that Addison's latest annual appreciation rate is higher than 60% 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 town. Individual neighborhoods within Addison differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Addison - 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 Addison real estate investment or home purchase decisions.
$546,230
for Texas
for nation
9,561
$2,617 / per month