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 7,057, 2,044 total housing units (homes and apartments), and a median house value of $793,977, Dripping Springs house prices are not only among the most expensive in Texas, Dripping Springs real estate also is some of the most expensive in all of America.
Single-family detached homes are the single most common housing type in Dripping Springs, accounting for 55.44% of the city's housing units. Other types of housing that are prevalent in Dripping Springs include large apartment complexes or high rise apartments ( 25.26%), duplexes, homes converted to apartments or other small apartment buildings ( 15.11%), and a few mobile homes or trailers ( 2.18%).
The most prevalent building size and type in Dripping Springs are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 54.55% owning and 45.45% renting.
Dripping Springs homes and real estate are some of the newest in America. 77.74% of Dripping Springs's housing was built since 2000, making the city have a very new look and feel. If you like the amenities of newer homes and subdivisions, then you will probably like what the Dripping Springs real estate market has to offer. Quite a bit of the housing here was also built between 1970-1999 ( 22.08%), and between 1940-1969 ( 0.18%).
In the last 10 years, Dripping Springs has experienced some of the highest home appreciation rates of any community in the nation. Dripping Springs real estate appreciated 126.27% over the last ten years, which is an average annual home appreciation rate of 8.51%, putting Dripping Springs in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Dripping Springs definitely has a track record of being one of the best long term real estate investments in America through the last ten years.
Over the last year, Dripping Springs appreciation rates have trailed the rest of the nation. In the last twelve months, Dripping Springs's appreciation rate has been 1.79%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Dripping Springs were at 1.70%, which equates to an annual appreciation rate of 6.99%.
Relative to Texas, our data show that Dripping Springs's latest annual appreciation rate is lower than 80% of the other cities and towns in Texas.
$793,977
for Texas
for nation
2,044
$2,022 / per month