Levelland, 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 Q2 2021. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

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

Levelland, TX Housing Market Trends

With 13,502 people, 4,855 houses or apartments, and a median cost of homes of $168,907, house prices in Levelland are solidly below the national average.

Single-family detached homes are the single most common housing type in Levelland, accounting for 74.50% of the city's housing units. Other types of housing that are prevalent in Levelland include mobile homes or trailers ( 11.74%), large apartment complexes or high rise apartments ( 6.69%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 6.16%).

The most prevalent building size and type in Levelland are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 62.59% owning and 37.41% renting.

There is a lot of housing in Levelland 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 Levelland built between 1940-1969 ( 40.00%). A lesser amount of the housing stock also hails from between 2000 and later ( 10.41%). There's also some housing in Levelland built before 1939 ( 4.18%).

Vacant housing appears to be an issue in Levelland. Fully 13.61% of the housing stock is classified as vacant. Left unchecked, vacant Levelland homes and apartments can be a drag on the real estate market, holding Levelland 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.

Levelland Home Appreciation Rates

Appreciation rates for homes in Levelland have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 61.97%, which ranks in the top 30% nationwide. This equates to an annual average Levelland house appreciation rate of 4.94%.

NeighborhoodScout's data show that during the latest twelve months, Levelland's appreciation rate, at 9.32%, has been at or slightly above the national average. In the latest quarter, Levelland's appreciation rate has been 2.58%, which annualizes to a rate of 10.75%.

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

Average Home Values

 

Median Home Value:
$168,907

Levelland, TX HOME PRICES

> $1,317,000
0.2%
0.2%
$988,001 - $1,317,000
0.1%
0.1%
$658,001 - $988,000
0.0%
0.0%
$527,001 - $658,000
0.2%
0.2%
$395,001 - $527,000
1.1%
1.1%
$263,001 - $395,000
12.7%
12.7%
$132,001 - $263,000
30.4%
30.4%
$66,001 - $132,000
28.6%
28.6%
$0 - $66,000
26.7%
26.7%
0.0% 100.0%
% OF HOMES
Value Relative To State

Average for Nation

Average for TX

Value Relative To Nation

Number Of Homes And Apartments:
4,855

Levelland Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
TX*
Compared To
America*
Latest Quarter:
2021 Q1 - 2021 Q2
Last 12 Months:
2020 Q2 - 2021 Q2
Last 2 Years:
2019 Q2 - 2021 Q2
Last 5 Years:
2016 Q2 - 2021 Q2
Last 10 Years:
2011 Q2 - 2021 Q2
Since 2000:
2000 Q1 - 2021 Q2
151.19% 4.38%
8
10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$915 / per month

Homeownership Rate

Owners
62.6%
62.6%
Renters
37.4%
37.4%
Vacant
13.6%
13.6%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
10.4%
10.4%
1970 - 1999
45.4%
45.4%
1940 - 1969
40.0%
40.0%
1939 or Older
4.2%
4.2%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
74.5%
74.5%
Townhomes
0.9%
0.9%
Small Apt. Buildings
6.2%
6.2%
Apt. Complexes
6.7%
6.7%
Mobile Homes
11.7%
11.7%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
2.0%
2.0%
1 Bedroom
7.3%
7.3%
2 Bedrooms
27.5%
27.5%
3 Bedrooms
53.8%
53.8%
4 Bedrooms
8.0%
8.0%
5 or more bedrooms
1.4%
1.4%
0.0% 100.0%
% OF HOMES

Popular Communities Near Levelland, TX

Zip Codes in Levelland, TX