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 2,176 people, 775 houses or apartments, and a median cost of homes of $180,123, house prices in Rio Hondo are solidly below the national average.
Single-family detached homes are the single most common housing type in Rio Hondo, accounting for 77.43% of the city's housing units. Other types of housing that are prevalent in Rio Hondo include mobile homes or trailers ( 12.03%), large apartment complexes or high rise apartments ( 4.47%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 3.67%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Rio Hondo. Owner-occupied housing accounts for 67.74% of Rio Hondo's homes, and 66.67% have either three or four bedrooms, which is average sized relative to America.
There is a lot of housing in Rio Hondo 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 Rio Hondo built between 2000 and later ( 29.44%). A lesser amount of the housing stock also hails from between 1940-1969 ( 17.87%). There's also some housing in Rio Hondo built before 1939 ( 3.44%).
Vacant housing appears to be an issue in Rio Hondo. Fully 11.23% of the housing stock is classified as vacant. Left unchecked, vacant Rio Hondo homes and apartments can be a drag on the real estate market, holding Rio Hondo 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, Rio Hondo has experienced some of the highest home appreciation rates of any community in the nation. Rio Hondo real estate appreciated 125.43% over the last ten years, which is an average annual home appreciation rate of 8.47%, putting Rio Hondo in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Rio Hondo definitely has a track record of being one of the best long term real estate investments in America through the last ten years.
Appreciation rates are so strong in Rio Hondo that despite a nationwide downturn in the housing market, Rio Hondo real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Rio Hondo appreciation rates continue to be some of the highest in America, at 10.72%, which is higher than appreciation rates in 90.20% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Rio Hondo. Rio Hondo appreciation rates in the latest quarter were at 4.95%, which equates to an annual appreciation rate of 21.32%.
Importantly, this makes Rio Hondo one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.
Relative to Texas, our data show that Rio Hondo's latest annual appreciation rate is higher than 90% of the other cities and towns in Texas.
$180,123
for Texas
for nation
775
$1,215 / per month