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 1,384 people, 555 houses or apartments, and a median cost of homes of $141,154, house prices in Hico are some of the most affordable in Texas as well as the nation.
Single-family detached homes are the single most common housing type in Hico, accounting for 82.69% of the city's housing units. Other types of housing that are prevalent in Hico include duplexes, homes converted to apartments or other small apartment buildings ( 10.03%), mobile homes or trailers ( 5.22%), and a few large apartment complexes or high rise apartments ( 1.24%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Hico. Owner-occupied housing accounts for 74.32% of Hico's homes, and 67.86% 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. Hico's housing was primarily built during this period, from the '40s through the '60s. A full 44.51% of the city's housing hails from this era. Other housing ages represented in Hico include homes built between 1970-1999 ( 35.03%) and housing constructed before 1939 ( 16.48%). There's also some housing in Hico built between 2000 and later ( 3.98%).
Vacant housing appears to be an issue in Hico. Fully 23.76% of the housing stock is classified as vacant. Left unchecked, vacant Hico homes and apartments can be a drag on the real estate market, holding Hico 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.
Hico's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Hico during the period has been just 5.08%, which is lower than 80% of US communities.
Over the last year, Hico appreciation rates have trailed the rest of the nation. In the last twelve months, Hico's appreciation rate has been 3.74%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Hico were at 1.51%, which equates to an annual appreciation rate of 6.17%.
Relative to Texas, our data show that Hico's latest annual appreciation rate is lower than 60% of the other cities and towns in Texas.
$141,154
for Texas
for nation
555
$1,563 / per month