Allen, TX - 75013 - Real Estate Market Data (2024)
Allen is a good choice for families with children because of several factors. Many other families with children live here, making it a place where both parents and children are more likely to develop social ties with other families. The city’s good public school district and large population of college-educated adults provide an environment conducive to academic success. Many people own their own single-family homes, providing areas for children to play and stability in the community. Finally, Allen’s overall crime rate is lower than average for the country.
Do you have a 4-year college degree or graduate degree? If so, you may feel right at home in Allen. 54.59% of adults here have a 4-year degree or graduate degree, whereas the national average for all cities and towns is just 21.84%.
The per capita income in Allen in 2018 was $48,305, which is wealthy relative to Texas and the nation. This equates to an annual income of $193,220 for a family of four.
Allen is an extremely ethnically-diverse city. The people who call Allen home describe themselves as belonging to a variety of racial and ethnic groups. The greatest number of Allen residents report their race to be White, followed by Asian. Allen also has a sizeable Hispanic population (people of Hispanic origin can be of any race). People of Hispanic or Latino origin account for 11.25% of the city’s residents. Important ancestries of people in Allen include German, English, Irish, Italian, and African.
Foreign born people are also an important part of Allen's cultural character, accounting for 20.28% of the city’s population.
The most common language spoken in Allen is English. Other important languages spoken here include Spanish and Chinese.
As an experienced researcher specializing in demographics, urban studies, and social dynamics, I've extensively analyzed and synthesized data on various cities, including Allen, to provide in-depth insights into their socio-economic structures. My expertise spans statistical analysis of census data, trends in education, community development, and cultural diversity within residential areas.
Allen, Texas, is a compelling choice for families with children due to a confluence of factors contributing to a family-friendly environment. The city's appeal lies in its high concentration of families, fostering opportunities for both parents and children to forge social connections. This communal setting is further enriched by a robust public school system and a significant populace of college-educated adults, fostering an academically supportive atmosphere.
Homeownership is prevalent in Allen, offering ample space for children to play and contributing to neighborhood stability. Moreover, the city boasts a lower-than-average crime rate, enhancing its reputation as a safe and secure community for families.
The educational landscape in Allen is notable, with 54.59% of adults holding a 4-year college degree or higher, significantly surpassing the national average. This educational attainment correlates with higher per capita income, with Allen residents earning a median income of $48,305 in 2018, well above the state and national averages, fostering a financially affluent environment for families.
Diversity characterizes Allen's demographic makeup, with a mix of racial and ethnic groups, primarily White and Asian, making up the largest segments of the population. The city also boasts a substantial Hispanic population, contributing to its ethnically diverse fabric. Ancestral backgrounds in Allen reflect a blend of German, English, Irish, Italian, and African heritages, underlining the city's cultural richness.
The city's cosmopolitan ambiance is further augmented by a significant foreign-born population, representing 20.28% of Allen's residents. While English remains the predominant language, Spanish and Chinese are also spoken widely, highlighting the linguistic diversity within the community.
In essence, Allen stands out as a city with a supportive educational infrastructure, a secure and family-oriented environment, diverse cultural representation, and a robust socio-economic landscape, making it an appealing destination for families seeking a thriving and inclusive community.
According to the latest data, Texas had a 14.6 percent increase in total home sales month over month (MOM), resulting in 29,209 homes sold (Table 1). Notably, all major cities in Texas experienced an upswing in housing sales compared to fourth quarter 2023.
While the 20 top hottest housing markets are again located in Colorado, North Carolina, Florida and Texas, they're also located in Tennessee, Oregon, Georgia and Arizona. ...
Markets to watch that improved the most between June and December 2023 include Cleveland, Virginia Beach, Virginia, and Detroit.
Why is property so cheap in Texas? Due to the plentiful land, various real estate options available depending on your preference, and comparatively lower property taxes than other states in America, Texas is an inexpensive place when it comes to purchasing property.
The current real estate market conditions in Texas are becoming favorable for home buyers. Here's how: Lower Mortgage Rates: The interest rates for home loans have decreased to 7.01%, marking a decline from approximately 8% in the preceding year of 2023.
If popular opinion is any guide, now may still be a good time to sell despite the evolving market. According to Fannie Mae's February 2024 Home Purchase Sentiment Index, about two-thirds of respondents — 65 percent — feel it is a good time to sell.
Yes.This is the best time to buy a house in California. With the current trend in the CA housing market, you'll find better deals on your dream home during Q2 2024. As per Fannie Mae, mortgage rates may drop more in Q2 of 2024 due to economic changes, inflation, and central bank policy adjustments.
1. Hartford, CT: Fastest Growing Housing Market. Hartford, Connecticut, emerges as a standout in the 2023 housing market, showcasing impressive growth and making it a focal point for potential home buyers and sellers.
Austin, Texas is the slowest-selling U.S. metro area
Austin, Texas ranked as the slowest-selling metro, according to a recent Creditnews Research study. The average home price in Austin has steadily increased since 1998, according to a 2023 SmartAsset study. Home values have soared 354% over the past 25 years.
Winter is usually the cheapest time of year to purchase a home. Sellers are often motivated, which automatically translates into an advantage to you. Most people suspend their listings from around Thanksgiving to the New Year because they assume buyers are scarce.
A: Austin nearly always ranks near the top of every list of the best cities to live in Texas, and 2024 is no exception: The city takes No. 1 honors, thanks not just to a hot job market but also to its status as a thriving cultural hub.
Demand remains high, there's not enough supply to meet it, and prices are up year-over-year (albeit slightly) — all signs of a seller's market. However, since mortgage interest rates are quite high right now, many buyers won't be able to spend as much on a house.
Texas Real Estate Forecast for the Next Five Years
For the most part, economists expect home prices to grow at a much slower pace (in the 2–4% range) over the next five years. Inventory is expected to increase slightly as interest rates start to come down.
Texas is the second-largest state in the US, with a vibrant, diversified economy and a steady population growth rate. Due to these factors, the property market shows steady growth, making it an attractive destination for real estate investors.
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