McAllen Real Estate Market
McAllen, Texas
August 6, 2023
McAllen, Texas is a city in the Rio Grande Valley region of the state. It is a popular destination for people looking for affordable housing, warm weather, and a sense of community. The real estate market in McAllen is relatively strong, with average home prices rising by 10.6% in the past year.
The median home price in McAllen is $273,000. This is higher than the national median home price of $375,300, but it is still relatively affordable compared to other major cities in Texas. For example, the median home price in Austin is $500,000, and the median home price in Houston is $400,000.
The most affordable neighborhoods in McAllen are North Alamo, South Alamo, and Hidalgo. These neighborhoods offer a variety of housing options, including single-family homes, condos, and townhomes. The average home price in these neighborhoods is around $200,000.
The most expensive neighborhoods in McAllen are Downtown McAllen, La Plaza Mall, and the Rio Grande Valley Medical Center. These neighborhoods offer luxury homes with amenities such as pools, gyms, and parking. The average home price in these neighborhoods is around $500,000.
The real estate market in McAllen is expected to remain strong in the coming years. The city is growing rapidly, and there is a high demand for housing.