West University Place, 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 Q1 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

West University Place, TX Housing Market Trends

With 15,585 people, 5,419 houses or apartments, and a median cost of homes of $1,110,220, West University Place house prices are not only among the most expensive in Texas, West University Place real estate also is some of the most expensive in all of America.

West University Place is a city of large, single-family homes. In fact, there is a higher proportion of four, five or more bedroom homes in West University Place than is found in 98% of the communities in America.

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in West University Place. Owner-occupied housing accounts for 90.75% of West University Place's homes, and 74.85% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in West University Place 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 West University Place built between 2000 and later ( 21.57%). A lesser amount of the housing stock also hails from between 1940-1969 ( 14.96%). There's also some housing in West University Place built before 1939 ( 14.33%).

West University Place Home Appreciation Rates

Appreciation rates for homes in West University Place have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 53.07%, which ranks in the top 30% nationwide. This equates to an annual average West University Place house appreciation rate of 4.35%.

Over the last year, West University Place appreciation rates have trailed the rest of the nation. In the last twelve months, West University Place's appreciation rate has been -1.66%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in West University Place were at 1.20%, which equates to an annual appreciation rate of 4.88%.

Notably, West University Place's appreciation rate in the latest quarter is one of the lowest in America.

Relative to Texas, our data show that West University Place's latest annual appreciation rate is lower than 90% of the other cities and towns in Texas.

Average Home Values

 

Median Home Value:
$1,110,220

West University Place Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
TX*
Compared To
America*
Latest Quarter:
2020 Q4 - 2021 Q1
Last 12 Months:
2020 Q1 - 2021 Q1
Last 2 Years:
2019 Q1 - 2021 Q1
Last 5 Years:
2016 Q1 - 2021 Q1
Last 10 Years:
2011 Q1 - 2021 Q1
Since 2000:
2000 Q1 - 2021 Q1
141.33% 4.23%
8
10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,704 / per month

Homeownership Rate

Owners
90.8%
90.8%
Renters
9.2%
9.2%
Vacant
3.1%
3.1%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
21.6%
21.6%
1970 - 1999
49.1%
49.1%
1940 - 1969
15.0%
15.0%
1939 or Older
14.3%
14.3%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
94.1%
94.1%
Townhomes
5.3%
5.3%
Small Apt. Buildings
0.4%
0.4%
Apt. Complexes
0.0%
0.0%
Mobile Homes
0.2%
0.2%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
0.6%
0.6%
1 Bedroom
0.4%
0.4%
2 Bedrooms
10.5%
10.5%
3 Bedrooms
28.0%
28.0%
4 Bedrooms
46.9%
46.9%
5 or more bedrooms
13.5%
13.5%
0.0% 100.0%
% OF HOMES