Housing Market 2024: Avoid Buying a Home in These 25 Texas Cities
Not all Texas housing markets are created equal. While there are many parts of Texas where buyers can find their dream homes and experience an excellent quality of life, home values may decline over time in other areas.
How do you know which areas to steer clear of purchasing a home in? To determine the Texas cities where you should avoid buying a home, GOBankingRates reviewed the January 2023 and January 2024 average single-family home value for every Texas city as well as the average single-family home value for Texas and the United States. The year-over-year change was then calculated using these home values in various Texas cities, the state of Texas and the U.S. The livability index was also factored in as cities with a livability under 70 represent the areas with the poorest quality of life.
In descending order, with the No. 1 city offering the poorest quality of life, see which 25 Texas cities you should avoid purchasing a home in.
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25. Buchanan Dam, Texas
January 2023 average home value: $390,776
January 2024 average home value: $357,933
YOY (%) change in average home value: -9.176%
Difference from USA average home value: $13,981
Livability score: 63
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24. Granite Shoals, Texas
January 2023 average home value: $400,914
January 2024 average home value: $371,851
YOY (%) change in average home value: -7.816%
Difference from USA average home value: $27,900
Livability score: 60
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23. Jonestown, Texas
January 2023 average home value: $538,398
January 2024 average home value: $506,794
YOY (%) change in average home value: -6.236%
Difference from USA average home value: $162,842
Livability score: 69
22. Medina, Texas
January 2023 average home value: $433,135
January 2024 average home value: $407,397
YOY (%) change in average home value: -6.318%
Difference from USA average home value: $63,445
Livability score: 59
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21. Mustang Ridge, Texas
January 2023 average home value: $396,870
January 2024 average home value: $370,690
YOY (%) change in average home value: -7.062%
Difference from USA average home value: $26,738
Livability score: 57
20. New Hope, Texas
January 2023 average home value: $449,523
January 2024 average home value: $429,496
YOY (%) change in average home value: -4.663%
Difference from USA average home value: $85,545
Livability score: 56
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19. Enchanted Oaks, Texas
January 2023 average home value: $614,645
January 2024 average home value: $605,247
YOY (%) change in average home value: -1.553%
Difference from USA average home value: $261,295
Livability score: 57
18. Point Venture, Texas
January 2023 average home value: $483,616
January 2024 average home value: $442,229
YOY (%) change in average home value: -9.359%
Difference from USA average home value: $98,278
Livability score: 68
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17. Graford, Texas
January 2023 average home value: $646,409
January 2024 average home value: $629,753
YOY (%) change in average home value: -2.645%
Difference from USA average home value: $285,801
Livability score: 62
16. Burton, Texas
January 2023 average home value: $435,120
January 2024 average home value: $428,660
YOY (%) change in average home value: -1.507%
Difference from USA average home value: $84,708
Livability score: 42
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15. Port Aransas, Texas
January 2023 average home value: $763,202
January 2024 average home value: $748,111
YOY (%) change in average home value: -2.017%
Difference from USA average home value: $404,160
Livability score: 65
14. Wimberley, Texas
January 2023 average home value: $578,536
January 2024 average home value: $540,420
YOY (%) change in average home value: -7.053%
Difference from USA average home value: $196,468
Livability score: 66
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13. McDade, Texas
January 2023 average home value: $454,495
January 2024 average home value: $427,490
YOY (%) change in average home value: -6.317%
Difference from USA average home value: $83,538
Livability score: 52
12. Kingsland, Texas
January 2023 average home value: $499,192
January 2024 average home value: $466,171
YOY (%) change in average home value: -7.084%
Difference from USA average home value: $122,219
Livability score: 58
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11. Cresson, Texas
January 2023 average home value: $434,425
January 2024 average home value: $384,246
YOY (%) change in average home value: -13.059%
Difference from USA average home value: $40,294
Livability score: 63
10. Tiki Island, Texas
January 2023 average home value: $740,561
January 2024 average home value: $729,967
YOY (%) change in average home value: -1.451%
Difference from USA average home value: $386,016
Livability score: 56
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9. Horseshoe Bay, Texas
January 2023 average home value: $838,401
January 2024 average home value: $817,937
YOY (%) change in average home value: -2.502%
Difference from USA average home value: $473,985
Livability score: 65
8. Highland Haven, Texas
January 2023 average home value: $719,705
January 2024 average home value: $681,808
YOY (%) change in average home value: -5.558%
Difference from USA average home value: $337,856
Livability score: 68
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7. Mountain City, Texas
January 2023 average home value: $558,060
January 2024 average home value: $503,307
YOY (%) change in average home value: -10.879%
Difference from USA average home value: $159,356
Livability score: 67
6. Hudson Bend, Texas
January 2023 average home value: $836,364
January 2024 average home value: $803,319
YOY (%) change in average home value: -4.114%
Difference from USA average home value: $459,367
Livability score: 64
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5. The Hills, Texas
January 2023 average home value: $957,744
January 2024 average home value: $907,686
YOY (%) change in average home value: -5.515%
Difference from USA average home value: $563,735
Livability score: 66
4. Round Top, Texas
January 2023 average home value: $1,188,546
January 2024 average home value: $1,161,900
YOY (%) change in average home value: -2.293%
Difference from USA average home value: $817,948
Livability score: 61
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3. Driftwood, Texas
January 2023 average home value: $976,110
January 2024 average home value: $926,039
YOY (%) change in average home value: -5.407%
Difference from USA average home value: $582,088
Livability score: 61
2. Volente, Texas
January 2023 average home value: $1,035,378
January 2024 average home value: $972,538
YOY (%) change in average home value: -6.461%
Difference from USA average home value: $628,586
Livability score: 57
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1. Lost Creek, Texas
January 2023 average home value: $1,379,756
January 2024 average home value: $1,299,012
YOY (%) change in average home value: -6.216%
Difference from USA average home value: $955,060
Livability score: 65
Photo disclaimer: Photos are for illustrative purposes only. In many cases, the closest major city outside of the city/county mentioned it the article was used.
Methodology: For this study, GOBankingRates analyzed housing markets across cities in Texas to find the places you should avoid buying. GOBankingRates started by using the Zillow Home Value Index to find the [1] January 2023 average single-family home value for every city in Texas, [2] January 2024 average single-family home value for every city in Texas, [3] overall Texas state January 2024 average single-family home value, and the [4] overall USA national January 2024 average single-family home value all sourced from Zillow Home Value Index for Single Family Homes. Using the home values from each city, the year-over-year change in USD and percentage can be calculated, as well as the differences from the Texas average and national average. To qualify for this study, the year-over-year change in home value had to be negative, the home value had to be inflated over the state average, and the home value had to be inflated over the national average. For each city left on the list, the livability index was sourced and all the cities with a livability below 70 were kept as they represent the places with the poorest quality of life. The year-over-year change in home value was scored and weighted at 1.50x, the difference from the Texas state average was scored and weighted at 0.75x, the difference from USA national average was scored and weighted at 0.75x, and the livability index was scored and weighted at 0.75x. All the scores were summed and sorted to show the 2024 housing markets to avoid buying a home in Texas. All data was collected on and is up to date as of Feb. 28, 2024.
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This article originally appeared on GOBankingRates.com: Housing Market 2024: Avoid Buying a Home in These 25 Texas Cities
