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 6,805, 2,378 total housing units (homes and apartments), and a median house value of $158,057, house prices in La Feria are solidly below the national average.
Single-family detached homes are the single most common housing type in La Feria, accounting for 55.05% of the city's housing units. Other types of housing that are prevalent in La Feria include mobile homes or trailers ( 26.55%), duplexes, homes converted to apartments or other small apartment buildings ( 7.86%), and a few large apartment complexes or high rise apartments ( 5.83%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in La Feria. Owner-occupied housing accounts for 68.71% of La Feria's homes, and 55.12% have either three or four bedrooms, which is average sized relative to America.
There is a lot of housing in La Feria 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 La Feria built between 2000 and later ( 24.73%). A lesser amount of the housing stock also hails from between 1940-1969 ( 15.48%).
Vacant housing appears to be an issue in La Feria. Fully 21.18% of the housing stock is classified as vacant. Left unchecked, vacant La Feria homes and apartments can be a drag on the real estate market, holding La Feria 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.
Appreciation rates for homes in La Feria have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 104.13%, which ranks in the top 40% nationwide. This equates to an annual average La Feria house appreciation rate of 7.40%.
Appreciation rates are so strong in La Feria that despite a nationwide downturn in the housing market, La Feria real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, La Feria appreciation rates continue to be some of the highest in America, at 11.02%, which is higher than appreciation rates in 91.15% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in La Feria. La Feria appreciation rates in the latest quarter were at 4.95%, which equates to an annual appreciation rate of 21.32%.
Importantly, this makes La Feria 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 La Feria's latest annual appreciation rate is higher than 90% of the other cities and towns in Texas.
One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within La Feria differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in La Feria - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best La Feria real estate investment or home purchase decisions.
$158,057
for Texas
for nation
2,378
$1,377 / per month