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McAllen real estate market overview
- Average Monthly Rent: $874
- Home Price/Value Percentage Change: 12.3%
- Median Home Value: $249,900
- Best Time To Sell a Home: July
- Affordability Index: 141
- Days To Sell a House: n/a
- Job Market: Fair
- Public School Ranking: 28
Location and weather
The city of McAllen is the largest city in Hidalgo County and sits at the southern tip of Texas in the Rio Grande Valley. Just 70 miles west of the Gulf of Mexico and 5 miles from the Mexico border, McAllen's location is closest to the city of Reynose. Aside from being a border town, McAllen is also a lively metro region that's described to have friendly residents, a strong Hispanic culture and a high quality of life.
The weather here is primarily warm, with year-round sunshine, humidity, and hardly any rain.
Population, job market and cost of living
McAllen has a population of 145,482, with a growth rate of 0.51% annually.
The job market has increased by 2.1% over the last year. In ten years, job growth is predicted to be 36.1%. Not only is McAllen recognized as the retail center of southern Texas and northern Mexico, but it's a major center for international trade and manufacturing. Tourism is also a huge contributor to the economy here, bringing in millions of dollars into the local economy during mid fall and winter.
This affordable city offers inexpensive housing and transportation, which is one of the big appeals for new residents considering living here.
McAllen real estate market details
- De Palmas Historic District
- Uptown
- North Park Estates
- College Heights
- Downtown McAllen
The average monthly rent in McAllen is $874 for an average apartment size of 918 sq. feet.
There has been a 12.3% increase in McAllen's median home value over the last year. As of 2022, the median home value is $249,900.
Homeowners looking for the highest valued sale should sell during July. Homeowners in need of a fast sale should sell during September.
The affordability index in McAllen is 141. This number indicates high affordability in this city.
The top ranked public schools are Milam Elementary, Gonzalez Elementary, Achieve Early College High School, Morris Middle, Dr. Pablo Perez, Rayburn Elementary, and Cathey Middle. This information is based on data from The US Department of Education, The US Census Bureau and the Texas Education Agency.