Pampa, 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
Pampa, TX Housing Market Trends
With 16,612 people, 6,935 houses or apartments, and a median cost of homes of $147,989, house prices in Pampa are solidly below the national average.
Single-family detached homes are the single most common housing type in Pampa, accounting for 85.37% of the city's housing units. Other types of housing that are prevalent in Pampa include large apartment complexes or high rise apartments ( 6.83%), mobile homes or trailers ( 3.84%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 2.15%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Pampa. Owner-occupied housing accounts for 67.70% of Pampa's homes, and 59.49% have either three or four bedrooms, which is average sized relative to America.
At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Pampa's housing was primarily built during this period, from the '40s through the '60s. A full 59.38% of the city's housing hails from this era. Other housing ages represented in Pampa include homes built between 1970-1999 ( 22.63%) and housing constructed before 1939 ( 9.91%). There's also some housing in Pampa built between 2000 and later ( 8.08%).
Vacant housing appears to be an issue in Pampa. Fully 19.46% of the housing stock is classified as vacant. Left unchecked, vacant Pampa homes and apartments can be a drag on the real estate market, holding Pampa 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.
Pampa Home Appreciation Rates
Some of the lowest real estate appreciation rates in America over the last ten years have been in Pampa, where house values have increased just 44.43%, which is annualized rate of 3.74%. This rate is lower than the appreciation rate found in 90% of the cities and towns in America.
NeighborhoodScout's data show that during the latest twelve months, Pampa's appreciation rate, at 6.15%, has been at or slightly above the national average. In the latest quarter, Pampa's appreciation rate has been 1.51%, which annualizes to a rate of 6.17%.
Relative to Texas, our data show that Pampa's latest annual appreciation rate is higher than 80% 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 Pampa differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Pampa - 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 Pampa real estate investment or home purchase decisions.
Median Home Value
$147,989
Low
for Texas
Very Low
for nation
Number of Homes And Apartments:
6,935
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:
$1,389 / per month