Amarillo, often known as the Yellow Rose of Texas, is located in the Texas Panhandle along historic Route 66. Amarillo hosts a vibrant arts scene with many art galleries and events. Real estate in Amarillo is surprisingly affordable from both a national and local perspective.
An exciting yet historic place, Amarillo boasts lifestyle amenities that are often much more affordable than other parts of Texas. Amongst all, here are the top reasons to buy real estate in Amarillo, TX.
Quick Facts
- With an estimated population of 199,747 in 2021.
- The affordable cost of living is 13% lower than the average cost in Texas and 20% lower across the country.
- The median home price is approximately $212,000.
- The average price per square foot is between $98.46 to $104.17.
- The real estate price has been trending up to 26.2% over the past year.
Amarillo, TX, in a Nutshell
Amarillo, Texas, is indeed a city filled with many fantastic opportunities. It's a perfect place for those searching for the actual values of Texas without compromising on an extravagant lifestyle.
Economy
Amarillo is the largest city in Panhandle, Texas, with almost 200,000 residents. As being located in the Panhandle region of Texas, the city's economy is greatly flourished by the oil industry, agriculture, renewable energy, and tourism.
Employment
Amid its affordable cost of living, the unemployment rate in Amarillo is relatively low. Moreover, employment is something to look forward to in Amarillo with its numerous job opportunities available in the city.
Public School
Amarillo has a total of 77 public schools to choose from:
- Woodlands Elementary School
- Belmar Elementary School
- Hillside Elementary School
- Sleepy Hollow Elementary
- Lorenzo De Zavala Middle
Real Estate in Amarillo, TX
Amarillo, TX, is the largest city in the Texas Panhandle, with an estimated population of 199,747 in 2021. The affordability rate for this area is 13% lower than the average cost in Texas and 20% lower across the country.
The average home price is around $212,000, whereas the median price for single-family homes is $154,000. Amarillo, TX, is a perfect place for you to invest in real estate for all of these reasons and more.
Real Estate Trends
According to statistics, home prices in Amarillo are trending up by 26.2% over the past year. Demand for homes will to continue with the following trends:
- Single-family homes will be increasing.
- The number of foreign buyers is rising.
- Median home prices are expected to continue growing.
The key insight of Amarillo, TX, is its affordable cost of living and high economic growth. This city is truly a perfect place for you to invest in real estate.
Final Thoughts
Amarillo, Texas, is a beautiful place for living with its reasonable cost of living and many opportunities. As the largest city in the Texas Panhandle, Amarillo offers a wide range of employment opportunities and friendly neighborhoods. In conclusion, if you are looking for a place to invest in real estate, look no further than Amarillo, TX.
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