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East Terrell Hills: Rising Home Values and Ownership Trends in a Dynamic San Antonio Neighborhood
CATEGORY
Property Value
DATA
Percent Owner Occupied
Housing Prices
Median Rent
Population
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Property Value
Percent Owner Occupied
Housing Prices
Median Rent
Population
East Terrell Hills, a neighborhood in San Antonio, Texas, has experienced significant changes in its housing market over the past decade. This area has seen substantial fluctuations in homeownership rates and a remarkable increase in average home values, reflecting broader economic trends and local market conditions.
The homeownership rate in East Terrell Hills has shown notable variability from 2013 to 2022. Starting at 58% in 2013, it decreased to 46% by 2015, rebounded to 59% in 2019, and settled at 53% in 2022. Concurrently, average home prices in the neighborhood have seen a substantial increase. From $88,601 in 2013, average home prices rose to $210,532 in 2022, marking a 137% increase over nine years.
An interesting pattern emerges when examining the relationship between federal interest rates and homeownership rates in East Terrell Hills. During the period of low interest rates from 2013 to 2016 (below 0.5%), homeownership rates initially declined from 58% to 49%. However, as interest rates began to rise from 2017 onwards, reaching 1.68% in 2022, homeownership rates stabilized and even showed slight increases, reaching 53% in 2022. This suggests that local factors may have had a more significant influence on homeownership than interest rates alone.
Renter percentages and average rent prices in East Terrell Hills have also shown notable trends. The percentage of renters increased from 42% in 2013 to a peak of 54% in 2015, before decreasing to 47% in 2022. Average rent prices rose from $830 in 2013 to a high of $1,046 in 2018, but then experienced some volatility, settling at $838 in 2022. These fluctuations may be influenced by changes in the neighborhood's population, which increased from 4,672 in 2013 to 6,091 in 2022, potentially affecting housing demand and availability.
Recent data shows that average home prices in East Terrell Hills reached $211,122 in 2023 and slightly decreased to $209,579 in 2024. This minor decline coincides with a significant increase in federal interest rates, which rose to 5.02% in 2023 and 5.33% in 2024. These higher interest rates may have contributed to the slight cooling in home prices observed in 2024.
Based on historical trends and current market conditions, predictions for the next five years can be made. Average home prices in East Terrell Hills are likely to continue their overall upward trajectory, albeit at a more moderate pace due to higher interest rates. Average home prices may reach around $240,000 to $250,000 by 2029. Average rent prices, which have shown more volatility, may stabilize and gradually increase to approximately $950 to $1,000 per month by 2029, assuming steady population growth and economic stability in the area.
In summary, East Terrell Hills has undergone significant changes in its housing market over the past decade. The neighborhood has experienced substantial appreciation in average home values, fluctuating homeownership rates, and varying rental market conditions. The interplay between interest rates, population growth, and local economic factors continues to shape the housing landscape in this San Antonio community, making it an area of interest for both residents and investors alike.
