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McAllen-Edinburg-Mission, TX housing market
Housing market indicators
| Indicator | 2022 | 2023 | 2024 | 2025* | Change | 2022 | 2023 | 2024 | YTD |
|---|---|---|---|---|---|---|---|---|---|
| Median Listing Price per Square Feet | $148 | $155 | $161 | $159 | 17.5% | 4.7% | 3.9% | -1.2% | |
| Active Listing Count | 1,533 | 2,041 | 2,793 | 3,285 | 48.5% | 33.1% | 36.8% | 17.6% | |
| Median Days on Market | 67 | 71 | 78 | 74 | 28.8% | 6% | 9.9% | -5.1% | |
| Share of listings with price increase | 1.1% | 0.7% | 0.7% | 0.5% | |||||
| Share of listings with price decrease | 10.1% | 13.3% | 13.7% | 14.2% | |||||
* last available value
Home prices
Short term housing supply drivers
Long term housing demand drivers
Long term housing supply drivers
Note: 12M MA - 12 months moving average, Permits - New Private Housing Structures Authorized by Building Permits. Source: FRED
Housing market overview
McAllen-Edinburg-Mission, TX MSA Overview
| Area | City/town | Population | Density | Income (high/low/...) | Quality of Schools (Great Schools rating range) | Crime level | Property tax (%) | Comments |
|---|---|---|---|---|---|---|---|---|
| Core Urban | McAllen | 143,000 | 2,500/sq mi | Low | 5-8 | Moderate | 2.5% | Retail hub, medical center |
| Core Urban | Edinburg | 102,000 | 2,200/sq mi | Low | 4-7 | High | 2.4% | University town, growing suburbs |
| Core Urban | Mission | 85,000 | 2,100/sq mi | Low | 5-7 | Moderate | 2.5% | Agricultural base, border proximity |
| Suburban | Pharr | 78,000 | 3,000/sq mi | Very Low | 3-6 | High | 2.6% | Dense, working-class |
| Suburban | Weslaco | 42,000 | 1,800/sq mi | Low | 4-7 | Moderate | 2.4% | Farming community |
| Rural | Palmview | 12,000 | 1,200/sq mi | Low | 4-6 | Low | 2.3% | Developing outskirts |
To view all table columns, please open this table on a laptop or desktop screen.
- MSA spans Hidalgo County primarily, 1,571 sq mi total area.
- Population 914,820 in 2024, up 5.06% from prior year.
- Density averages 572/sq mi across metro.
- No local personal income tax; Texas state tax only.
- Property taxes average 2.4-2.6% via Hidalgo County appraisal.
- Key regions: Core urban along US-83 corridor; suburban expansions north; rural south toward border.
Citizens: Income and Education
- Median household income $52,281 in 2023, up 5.89% from 2022.
- Per capita income $37,106, ranks low nationally (No. 65 among MSAs).
- Texas average per capita $59,206; MSA 37% below state.
- Median age 30.3, youngest among Texas metros.
- 91.8% Hispanic, 88.7% Mexican descent; 27% foreign-born.
- High school graduation 78%; bachelor's degree 18% (below Texas 30%).
- 20% poverty rate vs Texas 12.1%.
- Large under-15 population at 28%; avg 2 children/family vs Texas 1.4.
Key Economic Sectors
- Education and health services dominate: 43,015 education jobs, 31,814 health jobs (2017 data).
- Government: 49,455 jobs, largest employer.
- Retail trade: 27,037 jobs.
- Food services: 15,102 jobs.
- Agriculture supports rural areas, though employment data limited.
- 280,135 total jobs in metro; unemployment around 7-8% historically.
- Retail and services tied to Mexico cross-border activity.
- Universities like UT Rio Grande Valley (Edinburg) and South Texas College (McAllen) drive education cluster.
Housing Buying Market: Supply Drivers
- Zoning relatively open in Hidalgo County; minimal restrictions favor single-family and multi-family builds.
- Regulatory environment lax compared to coastal Texas; fast permitting in growing suburbs.
- Construction workforce abundant, low-cost due to local labor pool; wages 20-30% below state average.
- Land availability high in rural south and north expansions; flood plain regs limit some areas.
- New construction surged 15% yearly post-2020 with population growth.
- Builder activity focused on Edinburg-Mission corridor; modular homes common for affordability.
- Supply constraints minor: occasional material cost spikes, but no major bans.
Housing Buying Market: Demand Drivers
- Net migration in: +5.06% population growth 2023-2024, fastest among mid-sized Texas MSAs.
- Family migration from higher-cost Texas cities like Houston, Dallas seeking affordability.
- Growing health sector pulls professionals; education expansion attracts faculty/students.
- Border trade recovery post-COVID boosts retail/service demand.
- Remote work influx from northern states drawn to low costs, warm climate.
- Declining sectors minimal impact; agriculture stable, no major outflows.
- Young median age drives first-time buyer demand for entry-level homes.
Key Challenges on the Housing Market
- Affordability strained: median home $220,000 vs income $52k limits buyers to 25% debt-to-income.
- Crime in urban cores (Pharr, parts of Edinburg) deters families.
- Flood risks in low-lying areas raise insurance 20-50% above average.
- Labor shortages in skilled trades despite cheap workforce.
- Water scarcity concerns with Rio Grande dependency affect long-term development.
- Low incomes cap price appreciation; inventory high but sales slow.
- Border security perceptions impact investor confidence.
- School quality varies, lower ratings correlate with slower neighborhood growth.
Investment Potential Differences
| Area | Appreciation potential | Risk | Key drivers |
|---|---|---|---|
| Edinburg North | High | Low | University growth, new subdivisions, low crime |
| McAllen Core | Medium-High | Medium | Retail/medical anchors, steady demand |
| Mission West | Medium | Low | Agricultural conversion, family migration |
| Pharr Central | Low-Medium | High | High crime, density saturation |
| Weslaco Rural | Low | Medium | Aging population, limited infrastructure |
| Palmview Outskirts | High | High | Speculative growth, flood risks |
To view all table columns, please open this table on a laptop or desktop screen.
- Overall MSA appreciation 4-6% annual projected through 2027 on migration.
- High potential areas near employment hubs; low in stagnant rural pockets.
- Risks tied to economy, water, border dynamics.
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