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El Paso Market Overview 2006
Multifamily
El Paso Apartment Statistics 2005
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El Paso |
Texas Metro
Average |
 |
| Average rent per square foot |
$0.67 |
$0.78 |
| Average rent for units built since 2000 |
$0.69 |
$0.89 |
| Average occupancy (in percent) |
94.0 |
91.4 |
| Average occupancy for units built since 2000 (in percent) |
95.5 |
93.1 |
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| Source: Apartment Market Data Research Jan-2006 |
El Paso Market Overview 2006
Housing
2005 Housing Affordability Index
| |
2005 Median
Priced Home |
Required
Income to
Qualify |
Median
Family
Income |
HAI* |
HAI for First-
Time |
|
| El Paso |
$110,300 |
$25,503 |
$38,250 |
1.5 |
0.93 |
| Texas Total |
$136,500 |
$31,561 |
$53,000 |
1.68 |
1.14 |
| U.S. Total |
$206,600 |
$47,132 |
$58,000 |
1.23 |
0.68 |
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*The HAI is the ration of the median family income to the income required to buy the median-priced house using standard mortgage financing at the current interest rate. Standard financing is a fixed-rate, 30-634 loan covering 80 percent of the cost of the home. A HAI of 1.00 indicates that the median family income is exactly equal to the required income to qualify for the standard loan to purchase the median-priced house.
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** First-time home buyer is assumed to purchase a home equal to the first quartile home price using a 90% home loan at an interest rate 0.5 percent greater than the standard current rate.
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Source: Real Estate Center at Texas A&M University |
Housing Costs
Price Distribution of MLS Homes Sold, El Paso Area
(in percent)
| Price Range |
1999 |
2000 |
2001 |
2002 |
2003 |
2004 |
2005 |
|
| $29,999 or less |
1.4 |
0.9 |
0.9 |
1.0 |
0.8 |
0.7 |
0.8 |
| 30,000 - 39,999 |
1.8 |
1.7 |
1.6 |
1.8 |
1.4 |
1.1 |
1.1 |
| 40,000 - 49,999 |
5.4 |
4.6 |
4.4 |
3.2 |
3.1 |
3.0 |
2.0 |
| 50,000 - 59,999 |
14.0 |
12.5 |
8.5 |
7.5 |
6.1 |
5.1 |
3.4 |
| 60,000 - 69,999 |
16.6 |
16.4 |
15.3 |
13.6 |
12.1 |
10.1 |
6.2 |
| 70,000 - 79,999 |
13.8 |
13.1 |
11.5 |
13.4 |
12.5 |
14.4 |
9.2 |
| 80,000 - 89,999 |
11.2 |
12.4 |
11.1 |
11.2 |
12.1 |
11.6 |
10.1 |
| 90,000 - 99,999 |
8.3 |
7.1 |
7.8 |
8.2 |
8.4 |
8.8 |
10.1 |
| 100,000 - 119,999 |
8.8 |
9.2 |
11.6 |
11.3 |
12.2 |
11.7 |
14.0 |
| 120,000 - 139,999 |
4.7 |
6.5 |
9.4 |
9.0 |
10.3 |
10.3 |
13.4 |
| 140,000 - 159,999 |
4.2 |
4.3 |
5.2 |
6.0 |
6.3 |
6.6 |
8.9 |
| 160,000 - 179,999 |
3.2 |
3.3 |
3.7 |
4.1 |
3.8 |
4.0 |
5.6 |
| 180,000 - 199,999 |
1.7 |
2.2 |
2.6 |
2.6 |
2.9 |
3.4 |
4.8 |
| 200,000 - 249,999 |
2.6 |
3.2 |
3.0 |
3.4 |
4.0 |
4.1 |
5.0 |
| 250,000 - 299,999 |
1.1 |
1.3 |
1.5 |
1.7 |
1.7 |
2.0 |
2.4 |
| 300,000 - 399,999 |
0.9 |
0.9 |
1.4 |
1.3 |
1.6 |
2.1 |
2.1 |
| 400,000 - 499,999 |
0.2 |
0.2 |
0.3 |
0.4 |
0.6 |
0.5 |
0.6 |
| 500,000 and more |
0.1 |
0.2 |
0.2 |
0.3 |
0.2 |
0.4 |
0.4 |
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Source: Real Estate Center at Texas A&M University
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