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Amarillo real estate market overview
- Average Monthly Rent: $941
- Home Price/Value Percentage Change: 6.70%
- Median Home Value: $193,424
- Best Time To Sell a Home: December
- Affordability Index: High
- Days To Sell a House: 18
- Job Market: Weak
- Public School Ranking: 27
Location and weather
The "cowboy" city of Amarillo is located in the middle of the Texas Panhandle. It is the seat of Potter County, and one of the largest cities in Texas in terms of population. This urbanized area offers a modern downtown, and far-stretched, flat plains occupied by state parks, historical ranches and other natural attractions perfect for exploring.
The weather here varies, with major changes in temperature dependent seasons. Residents of Amarillo see sunny skies throughout most of the year and warm summers, without a lot of humidity. The long, cold winter months hit temperatures below zero, bringing in almost 4 inches of snow per year and potential snowstorms.
Population, job market and cost of living
The population in Amarillo is 203,303, with a growth rate of 0.48% annually.
The job market has decreased by -3.15% since last year. In ten years, job growth is predicted to be 31.49%. This city is supportive of small businesses, and has promising business success in a variety of industries. Considering Amarillo's sturdy transportation industry and abundance of land, logistics and agricultural companies thrive here. Some of the other major industries include retail trade and manufacturing, insurance, healthcare and social assistance and management. The best companies that can get you a good job are BSA Health System, Northwest Texas Healthcare System, Affiliated Foods, Valic and Children's Home Healthcare.
Amarillo is a very affordable place to live in Texas, considering residents here have access to the more expensive neighboring cities around it.
Amarillo real estate market details
- Downtown Amarillo
- Colonies
- Sleepy Hollow
- South Lawn
The average monthly rent in Amarillo is $941 for an average apartment size of 832 sq. feet.
There has been a 6.7% increase in Amarillo's median home value year-over-year. As of 2023, the median home value is $193,424.
On average, homes in Amarillo sell after 18 days on the market.
Sales in December provide homeowners with the most profitable sale, while sales in August provide homeowners with the quickest sale.
The affordability index in Amarillo is 78. This number indicates high affordability in this city.
The top ranked public schools are Sleepy Hollow Elementary School, Belmar Elementary School, Woodlands Elementary, Lorenzo De Zavala Middle School, and Greenways Intermediate School. This information is based on the school's combined math and reading proficiency data in testing.