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El Paso, TX Real Estate Market

Source & Methodology

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 Q3 2022. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2020 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

El Paso, TX Housing Market Trends

With 678,415 people, 230,905 houses or apartments, and a median cost of homes of $188,393, house prices in El Paso are solidly below the national average.

Single-family detached homes are the single most common housing type in El Paso, accounting for 67.35% of the city's housing units. Other types of housing that are prevalent in El Paso include large apartment complexes or high rise apartments ( 18.97%), duplexes, homes converted to apartments or other small apartment buildings ( 7.34%), and a few row houses and other attached homes ( 3.54%).

The most prevalent building size and type in El Paso are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 59.09% owning and 40.91% renting.

There is a lot of housing in El Paso 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 El Paso built between 1940-1969 ( 25.56%). A lesser amount of the housing stock also hails from between 2000 and later ( 25.42%). There's also some housing in El Paso built before 1939 ( 4.96%).

El Paso Home Appreciation Rates

El Paso's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in El Paso during the period has been just 4.71%, which is lower than 70% of US communities.

Appreciation rates are so strong in El Paso that despite a nationwide downturn in the housing market, El Paso real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, El Paso appreciation rates continue to be some of the highest in America, at 16.73%, which is higher than appreciation rates in 77.09% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in El Paso. El Paso appreciation rates in the latest quarter were at 4.89%, which equates to an annual appreciation rate of 21.04%.

Relative to Texas, our data show that El Paso's latest annual appreciation rate is lower than 70% 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 El Paso differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in El Paso - 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 El Paso real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$188,393

El Paso, TX HOME PRICES

> $1,435,000
$1,076,001 - $1,435,000
$717,001 - $1,076,000
$574,001 - $717,000
$430,001 - $574,000
$287,001 - $430,000
$143,001 - $287,000
$72,001 - $143,000
$0 - $72,000
0.2%
0.2%
0.3%
0.3%
1.0%
1.0%
1.1%
1.1%
3.6%
3.6%
12.3%
12.3%
51.9%
51.9%
24.3%
24.3%
5.3%
5.3%
0.0% 100.0%
% OF HOMES
Value Relative To State

Low for Nation

Average for TX

Value Relative To Nation

Number Of Homes And Apartments:
230,905

El Paso Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
TX*
Compared To
America*
Latest Quarter:
2022 Q2 - 2022 Q3
Last 12 Months:
2021 Q3 - 2022 Q3
Last 2 Years:
2020 Q3 - 2022 Q3
Last 5 Years:
2017 Q3 - 2022 Q3
Last 10 Years:
2012 Q3 - 2022 Q3
Since 2000:
2000 Q1 - 2022 Q3
133.86% 3.81%
2
6
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,458 / per month

Homeownership Rate

Owners
Renters
Vacant
59.1%
59.1%
40.9%
40.9%
8.6%
8.6%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
25.4%
25.4%
44.1%
44.1%
25.6%
25.6%
5.0%
5.0%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
67.3%
67.3%
3.5%
3.5%
7.3%
7.3%
19.0%
19.0%
2.8%
2.8%
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
3.4%
3.4%
9.5%
9.5%
20.0%
20.0%
45.1%
45.1%
19.2%
19.2%
2.9%
2.9%
0.0% 100.0%
% OF HOMES