El Paso TX Real Estate - El Paso TX Homes For Sale | Zillow (2024)

FAQs

Are home prices in El Paso dropping? ›

El Paso, TX housing market

The median listing home price in El Paso, TX was $295K in June 2024, trending down -1.7% year-over-year. The median listing home price per square foot was $162. The median home sold price was $245.3K.

The cost of living in El Paso is 12% lower than the national average, residents can enjoy a comfortable lifestyle while managing their expenses more efficiently. A notable factor contributing to this affordability is the housing market, where the cost of housing in El Paso is 29% less than the national average.

Castner Heights

This family-friendly neighborhood in El Paso offers families safe recreation, as well as convenient access. Not only does this area offer convenient access to US-54 for downtown commuters—Castner Heights is also close to Fort Bliss, making this a great El Paso neighborhood for military families!

Among El Paso residents, there is a homeowner vacancy rate of 2.1% and a rental vacancy rate of 10.4% from a total of 245,993 units.

The median home value in the city is notably lower than the national average, making it an attractive option for those seeking affordable housing options. This affordability factor, coupled with a diverse range of housing types, positions El Paso as a market with potential for both long-term growth and rental income.

The Gross Metropolitan Product is projected to grow 0.2% in 2024 and 1.6% in 2025, according to the report. The population of El Paso County is expected to accelerate past 882,000 residents in 2025, with areas outside the El Paso metropolitan area, including Horizon City, seeing especially rapid growth.

Around $75,000 a year is the salary needed in El Paso while in New York, San Jose and Irvine California the required salary for comfortable living is $138,000 a year. On average, an individual needs $96,500 for sustainable comfort in a major U.S. city.

Texas cities make up more than half of the top 50 most expensive places for real estate taxes. These include Pearland (2.31%), El Paso (2.30%), Edinburg (2.28%), Brownsville (2.08%), San Antonio (2.04) and Laredo (2.02%).

El Paso consistently ranks as one of the best retirement cities in the U.S., offering affordability, a warm climate, natural beauty, and a high quality of life. The city's low crime rate, tax advantages, and access to quality healthcare make it an attractive destination for retirees.

Sun Valley East

With a median home price of $259,109 and a median rent of $955, Sun Valley East is the most expensive neighborhood on our list. Based on the growth in home prices in Sun Valley East over the last 3 years, it ranks No. 1 among all the neighborhoods in El Paso.

What is the best district in El Paso? ›

EL PASO, Texas (KTSM) — Ysleta Independent School District has some of the top-performing schools in West Texas, according to rankings released by the nonprofit research and advocacy group Children at Risk. Ysleta ISD has the No. 1-ranked elementary school, the No. 1 middle school and the No.

One of the richest people to come out of El Paso, Texas is Paul L. Foster. He's one of the most well known figures in the world of oil refining: He is the founder of Western Refinery in 1997, which later was sold to Marathon (presently is now Marathon).

Comparably, statewide Texas average office rents by class in 2023 were: $36.17 per square foot for class A office space; $24.95 per square foot for class B office space; $20.98 per square foot for class C office space.

A vacancy rate is a percentage that compares how many available units in a rental property are currently unoccupied. This metric refers to an investment property's unrealized income potential. Keep in mind that vacancy rate differs from occupancy rate, which is the percentage of rental units that are occupied.

Home Price Declines

Texas' median home price fell by 1.5 percent MOM in June with an overall decline in the Big Four areas (Table 2). Houston, San Antonio, and Austin each declined by less than one percent. Dallas experienced the largest decline, with a drop of 1.7 percent, surpassing the overall state decline.

Despite being a big city, El Paso's cost of living is lower than the national average. If you'd love to live in a big city without all the worries of expensive living, moving to El Paso TX is right for you. You'll find lots of family-friendly attractions if you move to El Paso TX.

The availability of local construction materials and a regulatory environment that encourages building contribute to Texas's affordable housing market. Reduced building costs and streamlined construction processes mean that homes can be built quickly and sold at lower prices, benefiting both builders and buyers.

According to C2ER (the Council for Community and Economic Research), the cost of living in El Paso is estimated to be 88.1% of the national average making it one of the least expensive cities in the US.