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 11,257 people, 5,063 houses or apartments, and a median cost of homes of $595,927, Fredericksburg house prices are not only among the most expensive in Texas, Fredericksburg real estate also is some of the most expensive in all of America.
Single-family detached homes are the single most common housing type in Fredericksburg, accounting for 72.35% of the city's housing units. Other types of housing that are prevalent in Fredericksburg include large apartment complexes or high rise apartments ( 13.22%), duplexes, homes converted to apartments or other small apartment buildings ( 8.52%), and a few mobile homes or trailers ( 4.46%).
The most prevalent building size and type in Fredericksburg are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 55.58% owning and 44.42% renting.
There is a lot of housing in Fredericksburg 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 Fredericksburg built between 2000 and later ( 28.27%). A lesser amount of the housing stock also hails from before 1939 ( 13.97%). There's also some housing in Fredericksburg built between 1940-1969 ( 12.56%).
Vacant housing appears to be an issue in Fredericksburg. Fully 20.00% of the housing stock is classified as vacant. Left unchecked, vacant Fredericksburg homes and apartments can be a drag on the real estate market, holding Fredericksburg 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.
In the last 10 years, Fredericksburg has experienced some of the highest home appreciation rates of any community in the nation. Fredericksburg real estate appreciated 134.74% over the last ten years, which is an average annual home appreciation rate of 8.91%, putting Fredericksburg in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Fredericksburg definitely has a track record of being one of the best long term real estate investments in America through the last ten years.
Over the last year, Fredericksburg appreciation rates have trailed the rest of the nation. In the last twelve months, Fredericksburg's appreciation rate has been 0.54%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Fredericksburg were at 1.51%, which equates to an annual appreciation rate of 6.17%.
Relative to Texas, our data show that Fredericksburg'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 Fredericksburg differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Fredericksburg - 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 Fredericksburg real estate investment or home purchase decisions.
$595,927
for Texas
for nation
5,063
$2,203 / per month