Midland real estate market overview
- Average Monthly Rent: $1,105
- Home Price/Value Percentage Change: 8.4%
- Median Home Value: $325,000
- Best Time To Sell a Home: June
- Affordability Index: 161
- Days To Sell a House: 57
- Job Market: Strong
- Public School Ranking: 28
Location and weather
Midland sits on the southern edge of the High Plains, and is the county seat of Midland County. This flat, sandy red city received its name due to the midway location it sits between Fort Worth and El Paso. Also nicknamed The Tall City, Midland is a fast growing, vibrant arts community that offers residents big-city culture with home-town charm.
True to most Texas cities, weather here is warm with highs in the mid 90s and lows in the 30s. There's around 16 inches of rain per year, and 3 inches of snow during winter.
Population, job market and cost of living
The population in Midland is 157,633, with a growth rate of 2.51% annually.
The job market here has increased by 8.7% over the last year. In ten years, job growth is predicted to be 48.3%. Midland is home to the Permian Basin, the largest oil production region in the country. As a result, oil and gas has heavily and positively influenced the economy here. The Permian Basin alone has supported more than 260,000 professionals. Other primary industries are energy, manufacturing, transportation, and distribution. The largest employers of Midland are Anthem Oil & Gas, Apache Corp., Baker Hughes Companies, Chevron, and many more.
The cost of living is higher here than the Texas average but lower than the US average cost of living.
Midland real estate market details
- Wilshire Park
- Wedgewood Park
- Permian Estates
- Fannin Terrace
- Fairmount Park
There has been an 8.4% increase in Midland's median home value over the last year. As of 2022, the median home value is $325,000.
To earn the most profit for a home sale, data suggest selling during June. To sell a home quickly, data suggest selling during July.
The top ranked public schools are Carver Center, Young Women's Leadership Academy, Early College H S at Midland College, Emerson Elementary, Midland Academy Charter School and James Bowie Fine Arts Academy. The information is supported by data from The US Department of Education, The US Census Bureau and the Texas Education Agency.