Overview
Spring Branch is a tiny city located in the state of Texas. With a population of 221 people and just one neighborhood, Spring Branch is the 1015th largest community in Texas.
Spring Branch home prices are not only among the most expensive in Texas, but Spring Branch real estate also consistently ranks among the most expensive in America.
Occupations and Workforce
When you are in Spring Branch, you'll notice that it is more blue-collar than most other communities in America. 41.12% of Spring Branch’s employed work in blue-collar jobs, while America averages only 27.7% that do. Overall, Spring Branch is a city of professionals, construction workers and builders, and sales and office workers. There are especially a lot of people living in Spring Branch who work in art, media, and design (42.06%), sales jobs (5.61%), and office and administrative support (2.80%).
Of important note, Spring Branch is also a city of artists. Spring Branch has more artists, designers and people working in media than 90% of the communities in America. This concentration of artists helps shape Spring Branch’s character.
Setting & Lifestyle
One downside of living in Spring Branch is that it can take a long time to commute to work. In Spring Branch, the average commute to work is 51.05 minutes, which is quite a bit higher than the national average.
Being a small city, Spring Branch does not have a public transit system used by locals to get to and from work.
Demographics
Spring Branch is one of the most well-educated cities in the nation. 40.91% of adults in Spring Branch have at least a bachelor's degree. Compare that to the average community in America, which has just 21.84% with a bachelor's degree or higher.
The per capita income in Spring Branch in 2018 was $47,199, which is wealthy relative to Texas and the nation. This equates to an annual income of $188,796 for a family of four. However, Spring Branch contains both very wealthy and poor people as well.
The people who call Spring Branch home describe themselves as belonging to a variety of racial and ethnic groups. The greatest number of Spring Branch residents report their race to be White, followed by Asian. Important ancestries of people in Spring Branch include German, Irish, Scots-Irish, English, and Polish.
The most common language spoken in Spring Branch is English. Other important languages spoken here include Italian and Polish.
Notable & Unique Neighborhood Characteristics
When you see a neighborhood for the first time, the most important thing is often the way it looks, like its homes and its setting. Some places look the same, but they only reveal their true character after living in them for a while because they contain a unique mix of occupational or cultural groups. This neighborhood is very unique in some important ways, according to NeighborhoodScout's exclusive exploration and analysis.
People
Of note is NeighborhoodScout's research finding that the neighborhood has some of the lowest rates of children living in poverty of any neighborhood in the United States. In a nation where approximately 1 in 4 children are living in poverty, the community truly stands out from the rest in this regard.
In addition, if you are planning to retire in Texas, this neighborhood should be on your must-see list. For many reasons, may be considered a retiree's dream neighborhood. According to NeighborhoodScout's exclusive analysis and metrics, it's peaceful and quiet, has above average safety from crime compared to other neighborhoods in Texas, while also offering a diverse range of housing options. This, along with the vibrant mix of very educated seniors and other age groups who choose to live here, makes the neighborhood more retiree-friendly than 98.2% of neighborhoods in TX. If a Texas retirement is in your future, this neighborhood should be one of the places you visit. In addition to being an excellent choice for active retirees, this neighborhood is also a very good choice for families with school-aged children and highly educated executives.
Also, astoundingly, NeighborhoodScout's research reveals that this single neighborhood has a higher concentration of married couples living here than 97.8% of all U.S. neighborhoods. Whether they have school-aged children or not, married couples are the rule in the neighborhood. If you are a married couple, you may find many people here with a similar lifestyle, and perhaps common interests. But if you are single, you might not find many other singles here.
Real Estate
One of the notable things about is that it is one of the quietest neighborhoods in America, according to NeighborhoodScout's exclusive analysis and quantitative rating of quietness. When you are here, you will find it to be very quiet. If quiet and peaceful are your cup of tea, you may have found a great place for you.
Diversity
Significantly, 6.2% of its residents five years old and above primarily speak Italian at home. While this may seem like a small percentage, it is higher than 95.0% of the neighborhoods in America.
The Neighbors
How wealthy a neighborhood is, from very wealthy, to middle income, to low income is very formative with regard to the personality and character of a neighborhood. Equally important is the rate of people, particularly children, who live below the federal poverty line. In some wealthy gated communities, the areas immediately surrounding can have high rates of childhood poverty, which indicates other social issues. NeighborhoodScout's analysis reveals both aspects of income and poverty for this neighborhood.
The neighbors in the neighborhood in Spring Branch are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 84.4% of the neighborhoods in America. In addition, 0.0% of the children seventeen and under living in this neighborhood are living below the federal poverty line, which is a lower rate of childhood poverty than is found in 100.0% of America's neighborhoods.
A neighborhood is far different if it is dominated by enlisted military personnel rather than people who earn their living by farming. It is also different if most of the neighbors are clerical support or managers. What is wonderful is the sheer diversity of neighborhoods, allowing you to find the type that fits your lifestyle and aspirations.
In the neighborhood, 52.1% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is sales and service jobs, from major sales accounts, to working in fast food restaurants, with 20.8% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (14.9%), and 11.6% in clerical, assistant, and tech support occupations.
Languages
The languages spoken by people in this neighborhood are diverse. These are tabulated as the languages people preferentially speak when they are at home with their families. The most common language spoken in the neighborhood is English, spoken by 85.6% of households. Other important languages spoken here include Spanish and Italian.
Ethnicity / Ancestry
Culture is the shared learned behavior of peoples. Undeniably, different ethnicities and ancestries have different cultural traditions, and as a result, neighborhoods with concentrations of residents of one or another ethnicities or ancestries will express those cultures. It is what makes the North End in Boston so fun to visit for the Italian restaurants, bakeries, culture, and charm, and similarly, why people enjoy visiting Chinatown in San Francisco.
In the neighborhood in Spring Branch, TX, residents most commonly identify their ethnicity or ancestry as German (22.1%). There are also a number of people of Mexican ancestry (21.1%), and residents who report English roots (13.5%), and some of the residents are also of Irish ancestry (10.5%), along with some Polish ancestry residents (3.5%), among others.
Getting to Work
How you get to work – car, bus, train or other means – and how much of your day it takes to do so is a large quality of life and financial issue. Especially with gasoline prices rising and expected to continue doing so, the length and means of one's commute can be a financial burden. Some neighborhoods are physically located so that many residents have to drive in their own car, others are set up so many walk to work, or can take a train, bus, or bike. The greatest number of commuters in neighborhood spend between 45 minutes and one hour commuting one-way to work (36.4% of working residents), longer and tougher than most commutes in America.
Here most residents (74.2%) drive alone in a private automobile to get to work. In addition, quite a number also carpool with coworkers, friends, or neighbors to get to work (9.2%) . In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.
FAQs
What is the average real estate appreciation per year in Texas? ›
According to Zillow, the typical home value in Texas has climbed by 6.9% over the last twelve months. It stands at $289,255 (ZHVI).
What is the hottest real estate market in Texas? ›- Austin. Over the past few years, Austin has remained a booming commercial real estate investment activity center. ...
- Dallas. The Crowdstreet report ranked the Dallas/Ft. ...
- Fort Worth. ...
- San Antonio. ...
- Houston.
New data in a study from researchers at Florida Atlantic University and Florida International University looked at the top 100 housing markets in the U.S. and found that 15 markets are overvalued by more than 50% while four of them, including Austin, Texas is overvalued by more than 60%.
Is Dallas real estate market slowing down? ›The index score was 48.6 in December 2022, down 7.8 year over year and continues on a downward trend from the five-year high of 61.2 in January 2022.
How much does a house appreciate in 5 years? ›We show both the cumulative appreciation rate, and the average annual appreciation rate for each time period (e.g., last 5-years: 84% total appreciation, Avg. per year: 16.8%).
How much does property value increase each year Texas? ›The appraised home value for a homeowner who qualifies his or her homestead for exemptions in the preceding and current year may not increase more than 10 percent per year.
Which city in Texas has the best real estate market? ›1 on best US housing markets for growth, stability list. AUSTIN (KXAN) — According to a new study, 12 of the top 20 U.S. cities that ranked as being the best housing markets for growth and stability were in Texas, and six Texas cities made the top 10.
Where is real estate booming in Texas? ›It's not just Houston, however, Texas, in general, has been seeing booming real estate activity. While Houston was named the top real estate market, San Antonio was named immediately afterward, followed by Austin, then Fort Worth, and Dallas as the 5th highest.
Will land prices go down in 2023 Texas? ›Some experts predict that due to low inventory, home prices won't drop in 2023. While others believe that due to the higher interest rates, sellers will lower their prices to current levels. Home values are expected to go down by 5% to 10% due to unaffordability.
Will mortgage rates go down in 2024? ›Fannie Mae, Mortgage Bankers Association and National Association of Realtors expect mortgage rates to drop through the first quarter of 2024, by half a percentage point to about nine-tenths of a percentage point. Figures are the predicted quarterly average rates for the 30-year fixed-rate mortgage.
Are houses in Texas getting more expensive? ›
Housing costs
The median sale price of a home in the state increased 0.6 percent in the first quarter of 2023 compared with the same time a year ago, putting the price at $326,800. Despite the year-over-year increase, that's still more than $50K cheaper than the nationwide median.
Our reality today, though, is starkly different. In 2021, about half of households in Dallas-Fort Worth were priced out of ownership of a median-priced single-family home, according to a News analysis.
What is the housing market forecast for DFW in 2023? ›By December 2023, the median price is forecast to be $351,000, a 4% decline from $365,000 year-over-year.
Will Dallas Fort Worth resilient housing market crash in 2023? ›The region's median sale price has dropped almost 9% since its peak of $435,000 in June, but it would take a much bigger blow to get it back to March 2020′s median price of $283,000. Gaines said prices could see a slight year-over-year decline in 2023 but will likely stay close to where they are.
What will my house be worth in 2025? ›According to a report by Zillow, home values are projected to increase by 5.5% over the next year, slower than the 16.9% increase seen in 2021. Zillow predicts that home values will increase by 3.5% in 2023, 3.4% in 2024, 3.3% in 2025, and 3.2% in 2026.
What will my house be worth in 2030? ›The Average US Home Could be Worth $382,000 by 2030
House prices in the US have risen by 48.55% in the last ten years (from $173k to $257k) and if they continue to grow at this rate for another decade, the average US home will be worth $382k by 2030.
In general, it's best to buy when you have your eye on the horizon and you're thinking long-term. Experts largely agree that you shouldn't own unless you plan on staying in the home for at least five years. That's because, thanks to their high start-up costs, houses don't usually make great short-term investments.
At what age can you stop paying property taxes in Texas? ›Property Tax and Appraisals
The Texas Tax Code, Section 33.06, allows taxpayers 65 years of age or older to defer their property taxes until their estates are settled after death.
This local option exemption cannot be less than $3,000. To qualify for the age 65 or older residence homestead exemption, the individual must be age 65 or older, have an ownership interest in the property and live in the home as his or her principal residence.
Do you pay taxes on market value or appraised value Texas? ›Generally, all property must be taxed based on its current market value. That's the price it would sell for when both buyer and seller seek the best price and neither is under pressure to buy or sell.
Where do most millionaires live in Texas? ›
Highland Park
The richest city in Texas is Highland Park. An upscale area located in central Dallas, this beautiful neighborhood possesses both a small-town atmosphere and big-city amenities.
Of the 10 fastest-growing cities in the country, Texas took four spots, with Little Elm in the Dallas-Fort Worth region ranking fifth. Fort Worth gained the highest sheer number of new residents of any city in the country in 2022, with an increase of 19,170. Its total population hit 956,709 last year.
What is the Dominate Estate in Texas? ›Dominance of Mineral Estate
This means that the owner of the mineral estate has the right to freely use the surface estate to the extent reasonably necessary for the exploration, development, and production of the oil and gas under the property.
TEXAS —Texas once again tops the nation for lack of available affordable housing in the latest National Low Income Housing annual report.
What city in Texas has the most expensive real estate? ›Webster, Texas, is one of the state's most expensive places to live, with a cost of living that's 34% higher than the national average. This city is located in Harris County and has a median home value of $379,065. Webster's median rent price is also high at $1,650 per month.
How much is 1 acre of land cost in Texas? ›How much is an acre of land in Texas? The average price per acre of rural land in Texas was more than $4,000 per acre in 2022, according to the Texas Real Estate Research Center. That average climbed each quarter: $4,116/acre average in Q1 of 2022.
What is the economic forecast for Texas in 2023? ›Texas' economy continues to expand in 2023. Employment gains were broad based in January, with growth in oil and gas outperforming all other major sectors. Existing-home sales and median home prices increased in January.
What are the interest rates in Texas 2023? ›| Week Ending | Rate (%) |
|---|---|
| 1/13/2023 | 4.70 |
| 1/20/2023 | 4.66 |
| 1/27/2023 | 4.69 |
| 2/3/2023 | 4.70 |
How High Will Mortgage Rates Go in 2023? While rates could climb slightly higher over the next month or so, experts predict a modest decline after that. Freddie Mac, for example, forecasts a 6.2% rate in the fourth quarter and an annualized rate of 6.4% for the year without stating a specific peak rate.
What are the chances of mortgage rates going down 2023? ›The Mortgage Bankers Association predicts rates will fall to 5.5 percent by the end of 2023 as the economy weakens. The group revised its forecast upward a bit — it previously expected rates to fall to 5.3 percent. Meanwhile, Fannie Mae's Duncan expects rates to be in the “high 5s” by the end of 2023.
How high will interest rates go 2023? ›
Meanwhile, Scotiabank predicted as of 28 April the US interest rates to stay at 5.25% for 2023, and fall to 3.5% in 2024. In the short-term, analysts believed that the Fed is likely to keep the current rate on hold for the near future, provided inflation doesn't spike again.
Is it cheaper to live in Texas or Florida? ›Florida has a higher cost of living index than Texas across most categories. This is consistent with the fact that Floridians need a higher living wage to survive. Not only is Texas 8% cheaper than Florida overall, but housing, utilities and groceries all cost significantly less in the Lone Star State.
Is it cheaper to live in California or Texas? ›Cost of Living in California vs. Texas. In Texas, you can get a lot more bang for your buck. A MyMove study evaluating the cost of living in the United States in 2022 shows that California has a cost index of 151.7, while Texas has a cost index of only 91.5.
Why are houses in Texas so cheap compared to California? ›One reason contributing to a lower cost of living and affordable housing is that Texas has no state income tax. Texas is one of seven states in the U.S. to not have an income tax. In comparison, as of 2022, the states with the highest income tax rate are Minnesota (9.85%), New York (10.90%), and California (13.30%).
What is the most expensive part of Dallas to live? ›1. Highland Park. Highland Park is the richest neighborhood in Dallas. Located just north of downtown, this affluent neighborhood is the epitome of luxury living.
Is it a good time to buy a house in Texas? ›Overall, home sales in Texas set a record in 2021, topping 417,000. Then, “Nearly 30% of total home sales vanished from December 2021 to December 2022,” according to the Texas Real Estate Research Center. This decrease in demand, coupled with higher inventory, can give buyers an advantage.
Are Dallas home prices dropping? ›For the first time since 2020, D-FW home prices are down from a year ago.
What will the Texas housing market look like in 2023? ›While some areas may experience an increase in housing prices, others may experience a decline. In Dallas, TX, housing prices are expected to decrease by 0.1% as of April 2023, followed by a further decline of 0.3% in June 2023, but are projected to increase by 0.7% by March 2024.
What is the US housing market going to do in 2023? ›Fannie Mae: Economists at the firm predict that U.S. home prices, as measured by the Fannie Mae HPI, will fall 1.2% in 2023 and another 2.2% dip in 2024. That's a big upgrade from March, when Fannie Mae predicted national home prices would fall 4.2% in 2023 and another 2.3% dip in 2024.
Will the real estate bubble burst in 2023? ›While a housing price correction is expected, we aren't in a housing bubble. Demand for homes remains high, and there are fewer home sellers than there were in 2022. And while the market is cooling, experts don't expect an actual housing crash or a housing bubble burst in 2023.
Will the housing market crash in 2023 or 2024? ›
Even though there have been signs of strain in the market—and even though we still don't know how the pandemic will continue to impact it—for now, it looks like the California housing market is stable overall and unlikely to experience a crash in 2023.
Is Dallas a buyers market? ›Dallas is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
What rate do most houses appreciate per year? ›What Is The Average Home Appreciation Rate? According to Millionacres.com, the current national average appreciation rate is 2% month over month and 14.5% year over year.
What is the average yearly return on real estate? ›Average Returns on Real Estate Investments
As you can see, there's a lot that goes into real estate investment returns. But if you want to know the average annualized returns of long-term real estate investments, it's 10.3%. That's about the same as what the stock market returns over the long run.
United States House Prices Growth
US house prices grew 8.8% YoY in Dec 2022, following an increase of 12.2% YoY in the previous quarter. YoY growth data is updated quarterly, available from Mar 1992 to Dec 2022, with an average growth rate of 5.4%.
The controversial idea is to tighten the state's “appraisal cap” on how much a home's taxable value can rise each year. The House proposal would lower the cap from 10% to 5% — and expand the benefit to owners of business properties like grocery stores, restaurants and apartment complexes.
What real estate appreciates the most? ›Question: What type of property appreciates faster – condo, townhouse, or single-family? Answer: Since 2012, the data is clear – single-family homes appreciate the fastest, followed by townhouses/duplexes, and then condos. Since 2012, the average single-family home has appreciated 69% compared to 27% for condos.
How much should my house appreciate in 10 years? ›Average Home Value Increase Per Year
National appreciation values average around 3.5 to 3.8 percent per year. Ownerly explains that the average home appreciation per year is based on local housing market trends as well as the economy, and this makes for a great deal of fluctuation.
Typically, a good return on your investment is 15%+. Using the cap rate calculation, a good return rate is around 10%. Using the cash on cash rate calculation, a good return rate is 8-12%. Some investors won't even consider a property unless the calculation predicts at least a 20% return rate.
What state has the best ROI? ›1. Wyoming: 203% 5-year ROI on College. Wyoming has some of the highest wages for high school graduates: $31,936 a year, on average. This results in a 43 percent increase in pay for earning a bachelor's degree.
What is a good ROI on investment property? ›
The 2% rule in real estate is another simple way to calculate ROI for rental properties. According to this rule, if the monthly rent for a rental property is at least 2% of its purchase price, then odds are it should generate positive cash flow.