Palmview, TX Real Estate Market
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.
Date(s) & Update Frequency:
- Home Values, Rents: Reflects Q2 2024. Updated quarterly.
- Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
Palmview, TX Housing Market Trends
With 15,863 people, 4,841 houses or apartments, and a median cost of homes of $158,641, house prices in Palmview are solidly below the national average.
Single-family detached homes are the single most common housing type in Palmview, accounting for 69.50% of the city's housing units. Other types of housing that are prevalent in Palmview include mobile homes or trailers ( 23.41%), large apartment complexes or high rise apartments ( 3.01%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 2.43%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Palmview. Owner-occupied housing accounts for 78.89% of Palmview's homes, and 60.30% have either three or four bedrooms, which is average sized relative to America.
There is a lot of housing in Palmview 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 Palmview built between 2000 and later ( 26.38%). A lesser amount of the housing stock also hails from between 1940-1969 ( 2.97%).
Vacant housing appears to be an issue in Palmview. Fully 17.28% of the housing stock is classified as vacant. Left unchecked, vacant Palmview homes and apartments can be a drag on the real estate market, holding Palmview 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.
Palmview Home Appreciation Rates
Palmview's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Palmview during the period has been just 5.53%, which is lower than 70% of US communities.
Over the last year, Palmview appreciation rates have trailed the rest of the nation. In the last twelve months, Palmview's appreciation rate has been -0.12%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Palmview were at 8.04%, which equates to an annual appreciation rate of 36.25%.
Importantly, this makes Palmview 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 Palmview's latest annual appreciation rate is lower 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 Palmview differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Palmview - 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 Palmview real estate investment or home purchase decisions.
Median Home Value
$158,641
Low
for Texas
Very Low
for nation
Number of Homes And Apartments:
4,841
TX
America
2024 Q1 - 2024 Q2
2023 Q2 - 2024 Q2
2022 Q2 - 2024 Q2
2019 Q2 - 2024 Q2
2014 Q2 - 2024 Q2
2000 Q1 - 2024 Q2
Average Market Rent:
$1,212 / per month