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El Paso real estate market overview
- Average Monthly Rent: $1,024
- Home Price/Value Percentage Change: 10.90%
- Median Home Value: $204,415
- Best Time To Sell a Home: July
- Affordability Index: Moderate
- Days To Sell a House: 57
- Job Market: Fair
- Public School Ranking: 27
Location and weather
El Paso sits in the western region of Texas, and is the seat of El Paso County. It's located on the Rio Grande, at the foot of the beautiful Franklin Mountains. Top-notch dining, strong culture, and a myriad of outdoor recreation opportunities flourish here, making this large Texas city the perfect home for potential new residents.
El Paso was rightfully given the nickname Sun City, as it's one of the sunniest cities in the United States. There are almost 300 days of sun per year, ideal for outdoorsy residents and tourists. There is also a slim 10 inches of rain and 3 inches of snow per year.
Population, job market and cost of living
El Paso has a population of 687,722, with a growth rate of 0.43% annually.
The job market has decreased by -4.19% over the last year. In ten years, job growth is predicted to be 35.9%. El Paso's sturdy economy hosts over 70 Fortune 500 company offices, including AT&T, Raytheon, Verizon, Walmart, and Wells Fargo. Similar to Corpus Christi, there's a strong military presence here as it's home to Fort Bliss and the William Beaumont Army Medical Center. Combined, these two make up a large portion of job opportunity provided to its residents.
This city is also home to the University of Texas at El Paso, putting education amongst some of the leading industries in the job market. El Paso is an affordable city in Texas, with a lower cost of living average than both Texas and the US average.
El Paso real estate market details
- Silver Springs Village
- Mesa Hills
- Via Hermosa
- Castner Heights
- Mountain View
- Park Foothills
The average monthly rent in El Paso is $1,024 for an average apartment size of 809 sq. feet.
There has been a 10.9% increase in El Paso's median home value over the last year. As of 2023, the median home value is $204,415.
On average, homes in El Paso sell after 57 days on the market.
July is the best time to sell a home for the most amount of money, while October is the best time to sell a home quickly.
The affordability index in El Paso is 82. This number indicates moderate affordability in this city.
The top ranked public schools are Vista Del Futuro Charter School, Horizon Heights Elementary School, Hornedo Middle School, Young Women's Leadership Academy, Mission Early College High School and Silva Health Magnet. This information is based on data regarding academic performance and equity.