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 7,498, 1,879 total housing units (homes and apartments), and a median house value of $128,147, house prices in Fabens are some of the most affordable in Texas as well as the nation.
Single-family detached homes are the single most common housing type in Fabens, accounting for 62.00% of the town's housing units. Other types of housing that are prevalent in Fabens include mobile homes or trailers ( 26.48%), duplexes, homes converted to apartments or other small apartment buildings ( 7.73%), and a few large apartment complexes or high rise apartments ( 2.08%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Fabens. Owner-occupied housing accounts for 75.73% of Fabens's homes, and 61.68% have either three or four bedrooms, which is average sized relative to America.
There is a lot of housing in Fabens 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 Fabens built between 1940-1969 ( 11.43%). A lesser amount of the housing stock also hails from between 2000 and later ( 10.94%). There's also some housing in Fabens built before 1939 ( 3.25%).
Vacant housing appears to be an issue in Fabens. Fully 15.09% of the housing stock is classified as vacant. Left unchecked, vacant Fabens homes and apartments can be a drag on the real estate market, holding Fabens 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 Fabens have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 92.04%, which ranks in the top 50% nationwide. This equates to an annual average Fabens house appreciation rate of 6.74%.
NeighborhoodScout's data show that during the latest twelve months, Fabens's appreciation rate, at 6.54%, has been at or slightly above the national average. In the latest quarter, Fabens's appreciation rate has been 3.48%, which annualizes to a rate of 14.67%.
Importantly, this makes Fabens one of the highest appreciating communities in the nation for the latest quarter, and may signal the town's near-future real estate investment strength.
Relative to Texas, our data show that Fabens's latest annual appreciation rate is higher than 80% of the other cities and towns in Texas.
$128,147
for Texas
for nation
1,879
$1,537 / per month