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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Groves, 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 Q4 2023. 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

Groves, TX Housing Market Trends

With 16,798 people, 6,034 houses or apartments, and a median cost of homes of $186,761, house prices in Groves are solidly below the national average.

Single-family detached homes are the single most common housing type in Groves, accounting for 87.81% of the city's housing units. Other types of housing that are prevalent in Groves include large apartment complexes or high rise apartments ( 8.08%), duplexes, homes converted to apartments or other small apartment buildings ( 3.07%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Groves. Owner-occupied housing accounts for 72.95% of Groves's homes, and 66.79% 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. Groves's housing was primarily built during this period, from the '40s through the '60s. A full 52.92% of the city's housing hails from this era. Other housing ages represented in Groves include homes built between 1970-1999 ( 35.89%) and housing constructed between 2000 and later ( 6.64%). There's also some housing in Groves built before 1939 ( 4.56%).

Vacant housing appears to be an issue in Groves. Fully 10.41% of the housing stock is classified as vacant. Left unchecked, vacant Groves homes and apartments can be a drag on the real estate market, holding Groves 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.

Groves Home Appreciation Rates

Real estate appreciation rates in Groves's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 5.43% during the period.

Over the last year, Groves appreciation rates have trailed the rest of the nation. In the last twelve months, Groves's appreciation rate has been 4.03%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Groves were at 0.90%, which equates to an annual appreciation rate of 3.64%.

Relative to Texas, our data show that Groves's latest annual appreciation rate is lower than 50% of the other cities and towns in Texas.

Average Home Values

Median Home Value

$186,761

Groves, TX Home Prices
> $1,245,000
$934,001 - $1,245,000
$622,001 - $934,000
$498,001 - $622,000
$373,001 - $498,000
$249,001 - $373,000
$125,001 - $249,000
$62,001 - $125,000
$0 - $62,000
0.0%
0.0%
0.4%
0.4%
0.2%
0.2%
1.7%
1.7%
3.0%
3.0%
24.2%
24.2%
48.7%
48.7%
16.8%
16.8%
5.1%
5.1%
0% 100.0%
% of Homes
Low

for Texas

Low

for nation

Number of Homes And Apartments:

6,034

Groves Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,735 / per month

Homeownership Rate

Owners
Renters
72.9%
72.9%
27.1%
27.1%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
10.4%
10.4%
89.6%
89.6%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
6.6%
6.6%
35.9%
35.9%
52.9%
52.9%
4.6%
4.6%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
87.8%
87.8%
0.6%
0.6%
3.1%
3.1%
8.1%
8.1%
0.4%
0.4%
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
0.8%
0.8%
2.9%
2.9%
28.4%
28.4%
57.6%
57.6%
9.2%
9.2%
1.1%
1.1%
0% 100.0%
% of Homes

Popular Neighborhoods in Groves

Zip Codes in Groves, TX