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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Canyon, TX Real Estate Market

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q2 2024. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Canyon, TX Housing Market Trends

With a population of 15,771, 5,209 total housing units (homes and apartments), and a median house value of $206,034, house prices in Canyon are solidly below the national average.

Single-family detached homes are the single most common housing type in Canyon, accounting for 63.19% of the city's housing units. Other types of housing that are prevalent in Canyon include large apartment complexes or high rise apartments ( 18.13%), duplexes, homes converted to apartments or other small apartment buildings ( 9.24%), and a few row houses and other attached homes ( 5.21%).

The most prevalent building size and type in Canyon are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 48.33% owning and 51.67% renting.

There is a lot of housing in Canyon built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Canyon built between 2000 and later ( 27.77%). A lesser amount of the housing stock also hails from between 1940-1969 ( 20.23%). There's also some housing in Canyon built before 1939 ( 10.61%).

Vacant housing appears to be an issue in Canyon. Fully 10.39% of the housing stock is classified as vacant. Left unchecked, vacant Canyon homes and apartments can be a drag on the real estate market, holding Canyon real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Canyon Home Appreciation Rates

Canyon's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Canyon during the period has been just 4.83%, which is lower than 80% of US communities.

Over the last year, Canyon appreciation rates have trailed the rest of the nation. In the last twelve months, Canyon's appreciation rate has been 2.35%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Canyon were at 0.00%, which equates to an annual appreciation rate of 0.00%.

Notably, Canyon's appreciation rate in the latest quarter is one of the lowest in America.

Relative to Texas, our data show that Canyon's latest annual appreciation rate is lower than 70% of the other cities and towns in Texas.

Average Home Values

Median Home Value

$206,034

Canyon, TX Home Prices
> $1,246,000
$935,001 - $1,246,000
$623,001 - $935,000
$499,001 - $623,000
$374,001 - $499,000
$249,001 - $374,000
$125,001 - $249,000
$62,001 - $125,000
$0 - $62,000
1.5%
1.5%
0.7%
0.7%
3.7%
3.7%
4.5%
4.5%
11.3%
11.3%
19.8%
19.8%
44.7%
44.7%
9.7%
9.7%
4.2%
4.2%
0% 100.0%
% of Homes
Average

for Texas

Low

for nation

Number of Homes And Apartments:

5,209

Canyon Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,564 / per month

Homeownership Rate

Owners
Renters
48.3%
48.3%
51.7%
51.7%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
10.4%
10.4%
89.6%
89.6%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
27.8%
27.8%
41.4%
41.4%
20.2%
20.2%
10.6%
10.6%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
63.2%
63.2%
5.2%
5.2%
9.2%
9.2%
18.1%
18.1%
3.9%
3.9%
0.3%
0.3%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
1.5%
1.5%
12.7%
12.7%
23.4%
23.4%
45.1%
45.1%
15.4%
15.4%
1.9%
1.9%
0% 100.0%
% of Homes

Popular Communities Near Canyon, TX

Zip Codes in Canyon, TX