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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With 5,433 people, 996 houses or apartments, and a median cost of homes of $219,119, house prices in Rusk are solidly below the national average.
Single-family detached homes are the single most common housing type in Rusk, accounting for 85.03% of the city's housing units. Other types of housing that are prevalent in Rusk include mobile homes or trailers ( 9.83%), large apartment complexes or high rise apartments ( 2.52%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 2.35%).
Renters dominate Rusk's housing market, and most live in three of four bedroom dwellings, chiefly found in single-family detached homes.
There is a lot of housing in Rusk 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 Rusk built between 1940-1969 ( 21.85%). A lesser amount of the housing stock also hails from between 2000 and later ( 13.32%). There's also some housing in Rusk built before 1939 ( 7.57%).
Vacant housing appears to be an issue in Rusk. Fully 13.32% of the housing stock is classified as vacant. Left unchecked, vacant Rusk homes and apartments can be a drag on the real estate market, holding Rusk 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.
In the last 10 years, Rusk has experienced some of the highest home appreciation rates of any community in the nation. Rusk real estate appreciated 119.03% over the last ten years, which is an average annual home appreciation rate of 8.16%, putting Rusk in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Rusk definitely has a track record of being one of the best long term real estate investments in America through the last ten years.
Over the last year, Rusk appreciation rates have trailed the rest of the nation. In the last twelve months, Rusk's appreciation rate has been 4.57%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Rusk were at 1.51%, which equates to an annual appreciation rate of 6.17%.
Relative to Texas, our data show that Rusk's latest annual appreciation rate is higher than 60% of the other cities and towns in Texas.
$219,119
for Texas
for nation
996
$1,591 / per month