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 3,052, 773 total housing units (homes and apartments), and a median house value of $153,873, house prices in Lytle are solidly below the national average.
Single-family detached homes are the single most common housing type in Lytle, accounting for 61.74% of the city's housing units. Other types of housing that are prevalent in Lytle include mobile homes or trailers ( 29.25%), large apartment complexes or high rise apartments ( 7.55%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 1.47%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Lytle. Owner-occupied housing accounts for 65.72% of Lytle's homes, and 69.08% have either three or four bedrooms, which is average sized relative to America.
There is a lot of housing in Lytle 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 Lytle built between 2000 and later ( 25.05%). A lesser amount of the housing stock also hails from between 1940-1969 ( 23.69%). There's also some housing in Lytle built before 1939 ( 2.62%).
Vacant housing appears to be an issue in Lytle. Fully 18.97% of the housing stock is classified as vacant. Left unchecked, vacant Lytle homes and apartments can be a drag on the real estate market, holding Lytle 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 Lytle have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 93.56%, which ranks in the top 50% nationwide. This equates to an annual average Lytle house appreciation rate of 6.83%.
Over the last year, Lytle appreciation rates have trailed the rest of the nation. In the last twelve months, Lytle's appreciation rate has been 1.59%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Lytle were at -1.46%, which equates to an annual appreciation rate of -5.70%.
Notably, Lytle's appreciation rate in the latest quarter is one of the lowest in America.
Relative to Texas, our data show that Lytle's latest annual appreciation rate is lower than 80% of the other cities and towns in Texas.
$153,873
for Texas
for nation
773
$1,339 / per month