HometownBell County

Actions

Average price of home in Bell County raises to more than $210,000

HOMESPRICESRISING00000000.jpg
Posted at 10:18 AM, Nov 24, 2021
and last updated 2021-11-24 20:01:19-05

BELTON, Texas — Prices for homes are getting higher and higher in Central Texas. Just ask Patrick Arryn, who closed on a new home in Belton last week.

“In Bell County, that home two years ago would’ve been $50-$75,000 cheaper than what I got it for,” said local realtor Patrick Arryn.

This is because the median home price in Bell County is now more than $210,000.

“This year I’ve seen two different sources and both of them have 22-24% of price growth year-over-year,” said Texas A&M Central Texas Interim Department Chair of Finance Accounting and Economics Robert Tennant.

Local experts say it’s unlike anything they have ever seen. According to the 2020 census, Bell County saw a 17% increase in population over the past decade, roughly 52,000 people.

“There are so many people moving from California, moving from Austin, moving from Florida. There’s just so many from all around the country,” said local realtor David Hightower.

A lack of building materials for new homes, coupled with supply chain holdups are also factors driving up the prices of existing homes.

Arryn oversees several rental properties and says pricing for rent is going way up too.

“The average three-bedroom two bath home is now 400-$500 more on rent than it was two years ago. It’s just insane to me,” said Arryn.

Arryn and other local realtors don’t think the market will slow down as Central Texas still offers far cheaper prices compared to Dallas, Austin and other larger Texas cities.