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 a population of 8,548, 2,836 total housing units (homes and apartments), and a median house value of $274,591, Hillsboro real estate and house prices are near the national average for all cities and towns.
Single-family detached homes are the single most common housing type in Hillsboro, accounting for 69.21% of the city's housing units. Other types of housing that are prevalent in Hillsboro include large apartment complexes or high rise apartments ( 18.81%), duplexes, homes converted to apartments or other small apartment buildings ( 8.37%), and a few mobile homes or trailers ( 2.82%).
The most prevalent building size and type in Hillsboro are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 47.13% owning and 52.87% renting.
There is a lot of housing in Hillsboro 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 Hillsboro built between 1940-1969 ( 30.67%). A lesser amount of the housing stock also hails from before 1939 ( 14.30%). There's also some housing in Hillsboro built between 2000 and later ( 7.81%).
Vacant housing appears to be an issue in Hillsboro. Fully 11.07% of the housing stock is classified as vacant. Left unchecked, vacant Hillsboro homes and apartments can be a drag on the real estate market, holding Hillsboro 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, Hillsboro has experienced some of the highest home appreciation rates of any community in the nation. Hillsboro real estate appreciated 134.85% over the last ten years, which is an average annual home appreciation rate of 8.91%, putting Hillsboro in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Hillsboro definitely has a track record of being one of the best long term real estate investments in America through the last ten years.
NeighborhoodScout's data show that during the latest twelve months, Hillsboro's appreciation rate, at 7.95%, has been at or slightly above the national average. In the latest quarter, Hillsboro's appreciation rate has been 1.51%, which annualizes to a rate of 6.17%.
Relative to Texas, our data show that Hillsboro's latest annual appreciation rate is higher than 90% of the other cities and towns in Texas.
$274,591
for Texas
for nation
2,836
$1,522 / per month