The typical home in Texas has increased in value by 13% in 2022.
Data from Zillow shows prices across the state increased by about $36,000, or 12.8% between Dec. 31, 2021, and Dec. 31, 2022.
Zillow’s “Home Value Index” (ZHVI) is a seasonally-adjusted measure of the typical home value in any given area. According to Zillow, the index reflects the typical value for homes in the 35th to 65th percentile range.
The average increase in Texas is slightly above that of the national average. Across the country, the typical home increased in value by 10.8% during the same time frame.
The map below shows the typical home value in counties across Texas as of Dec. 31.
Lubbock County
In 2022 the typical home value for a home in Lubbock as of November 2022 was 212,327 and had increased in the year to 13% or 35,452. Since 2017 Homes in Lubbock have been trending up in value with Lubbock County Increasing to 39.33%.
- Typical home value, November 2022: $212,327
- One-year price increase: +13.0%
- Five-year price increase: +39.3%
- Price increase since Jan. 2000: +147.5
Terry County
Terry County has seen increases as well with typical homes valued at 109,146 in 2022 compared to 2017 which was 82,969. Since Nov 2017 homes in Terry county have increased to 31.55% or 226,177
- Typical home value, November 2022: $109,146
- One-year price increase: +12.2%
- Five-year price increase: +31.55%
- Price increase since Jan. 2000: +137.2
Gaines County
Gaines County has seen the most increase around the area with typical homes valued as of Nov 22 are 255,528 compared to 2017 which was 155,750. Within a five-year span, Gaines County homes have in increased in value to 44.80% or 69,778.
- Typical home value, November 2022: $255,528
- One-year price increase: +14.23%
- Five-year price increase: +43.2%
- Price increase since Jan. 2000: +165.55
