Texas Real Estate Center Trends, Volume 5, Number 1, September 1991 Page: Insert
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RESiDENTIAL
Table 4. Texas Housing Affordability Data
2nd Quarter
Interest Rates**
Average Affordability
Price Index *
Metropolitan Area (July) 1990 1991 1991
Abilene $ 52,200 8.34 na na
Amarillo 58,000 10.25 9.66 na
Austin 101,700 10.18 9.61 1.2
Beaumont- 72,900 10.35 9.81 1.3
Port Arthur 51,400 10.35 9.81 1.9
Brazoria 63,000 10.18 9.78 2.4
Brownsville- na na na na
Harlingen na na na na
Bryan-College Station 76,000 10.41 9.94 1.3
Corpus Christi 73,800 10.17 9.61 1.5
Dallas- 122,800 10.49 9.43 1.1
Irving 123,800 10.49 9.43 1.3
El Paso 70,600 9.97 9.73 1.2
Fort Worth na 10.39 9.68 1.3
Arlington 82,500 10.39 9.68 1.7
NE Tarrant County 112,200 10.39 9.68 1.2
Galveston- 99,200 10.48 9.33 1.1
Texas City na 10.48 9.33 na
Houston 99,600 10.47 9.45 1.3
Killeen-Fort Hood- 67,700 na 9.40 1.8
Temple-Belton 72,000 na 9.40 2.1
Laredo na 10.80 na na
Longview 61,400 10.37 9.93 1.4
Lubbock 74,100 na 9.57 1.4
McAllen na na 10.14 0.9
Midland 80,700 10.60 9.09 1.4
Odessa 58,500 na na na
San Angelo 64,300 na na na
San Antonio 84,000 10.41 9.79 1.2
Sherman-Denison 51,900 10.17 na na
Texarkana 55,700 na na na
Tyler 75,900 10.78 10.00 2.1
Victoria 64,500 9.93 10.18 1.6
Waco 64,100 10.57 na na
Wichita Falls 55,500 na na na
Texas Total 94,400 10.44 9.57 1.2
USA Total*** $130,000 10.16 9.47 1.0
* Affordability Index: A value of 1.0 means that the median income
household can afford the mortgage payment for the average priced
home, considering current local financing terms. The higher the
index, the more affordable the housing.
** Office of Thrift Supervision
*** National Association of Realtors
Source: Real Estate Center at Texas A&M UniversityTable 5. Price Distribution of MLS Homes Sold:
July 1991
Distribution
Price Range Jul Prior 12 Jul Prior 12
Months J Months
(number) (percent)
$ 29,999 or less 812 10,134 8.9 10.6
30,000 39,999 638 7,248 7.0 7.6
40,000 49,999 853 12,121 9.3 12.7
50,000 59,999 897 10,482 9.8 11.0
60,000 69,999 934 9,821 10.2 10.3
70,000 79,999 891 8,595 9.7 9.0
80,000 89,999 766 7,378 8.4 7.7
90,000 99,999 554 5,380 6.0 5.6
100,000 -119,999 768 7,006 8.4 7.3
120,000 -139,999 583 5,089 6.4 5.3
140,000 -159,999 360 3,224 3.9 3.4
160,000 -179,999 264 2,177 2.9 2.3
180,000 -199,999 184 1,434 2.0 1.5
200,000 -299,999 415 4,238 4.5 4.4
300,000 -399,999 113 643 1.2 0.7
400,000 -499,999 72 327 0.8 0.3
500,000 -and up 62 291 0.7 0.3
Total 9,166 95,462 100.0 100.0
Reported Prior
Prices July 12 Months
Median price $76,500 $69,700
Average price $94,400 $86,900
Source: Real Estate Center at Texas A&M University
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Texas A & M University. Real Estate Center. Texas Real Estate Center Trends, Volume 5, Number 1, September 1991, report, September 1991; College Station, Texas. (https://texashistory.unt.edu/ark:/67531/metapth902877/m1/4/: accessed July 11, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu.; crediting UNT Libraries Government Documents Department.