El Paso TX Real Estate - El Paso TX Homes For Sale | Zillow (2024)

FAQs

Are home prices in El Paso dropping? ›

El Paso Housing Market Trends

In June 2024, El Paso home prices were down 1.2% compared to last year, selling for a median price of $250K. On average, homes in El Paso sell after 29 days on the market compared to 21 days last year. There were 591 homes sold in June this year, up from 569 last year.

The cost of living in El Paso is 11% lower than the national average, residents can enjoy a comfortable lifestyle while managing their expenses more efficiently. A notable factor contributing to this affordability is the housing market, where the cost of housing in El Paso is 30% less than the national average.

El Paso County is a highly livable community that offers affordable homes and attractive neighborhoods. Shielded by mountains on three sides, El Paso experiences more than 300 days of sunshine annually and a dry climate, making it possible to enjoy outdoor activities year-round.

The cost of living in El Paso, TX is 5% lower than the state average and 12% lower than the national average. El Paso, TX housing is 29% cheaper than the U.S average, while utilities are about 12% less pricey.

El Paso is the 6th largest city in Texas, and the 22nd largest in the U.S. Over the past five years, the county's population growth has outpaced the nation's overall growth.

The list price of homes in El Paso has increased by 6.7% since last year. Summary: The median home list price in El Paso was $264,695 in July 2024, up 6.7% from the previous year, and the median price per square foot was $153.

Around $75,000 a year is the salary needed in El Paso while in New York, San Jose and Irvine California the required salary for comfortable living is $138,000 a year. On average, an individual needs $96,500 for sustainable comfort in a major U.S. city.

Most El Paso homeowners will see a slight increase in their property tax bills this year, continuing a decade-long climb that has residents in the county digging deeper into their pockets to pay for government services and school repairs.

Mesa Hills

This calm and peaceful El Paso neighborhood offers a range of things to do, especially since it's only 15 minutes away from downtown. Mesa Hills' close proximity to I-10 makes it a very commuter-friendly neighborhood!

Factors like not being able to get a job or not feeling comfortable in a community may push people out of it, she said. "El Paso has billed itself as a low-wage job place — call centers, service sectors, these are not high-tech jobs," she said.

Who is the richest family in El Paso Texas? ›

One of the richest people to come out of El Paso, Texas is Paul L. Foster. He's one of the most well known figures in the world of oil refining: He is the founder of Western Refinery in 1997, which later was sold to Marathon (presently is now Marathon).

El Paso is also the second-largest majority-Hispanic city in the United States (after San Antonio), with 81% of its residents being Hispanic.

Electric bills in El Paso County, TX

In El Paso County, TX, the average monthly electric bill for residential customers is $224/month, which is calculated by multiplying the average monthly consumption by the average electric rate: 1,618 kWh * 14 ¢/kWh.

El Paso is located at the western tip of Texas, where Texas, New Mexico and Old Mexico meet! We are the largest international metroplex in the world where cultures and traditions blend seamlessly; from the historic Old West to the colors of Mexico, from the heritage of Native Americans to the beauty of our desert sun!

Texas Housing Market Overview

In June 2024, home prices in Texas were down 1.1% compared to last year, selling for a median price. On average, the number of homes sold was down 14.0% year over year and there were 28,542 homes sold in June this year, down 33,182 homes sold in June last year.

The average El Paso, TX home value is $224,590, up 5.2% over the past year and goes to pending in around 19 days.

The availability of local construction materials and a regulatory environment that encourages building contribute to Texas's affordable housing market. Reduced building costs and streamlined construction processes mean that homes can be built quickly and sold at lower prices, benefiting both builders and buyers.

According to C2ER (the Council for Community and Economic Research), the cost of living in El Paso is estimated to be 88.1% of the national average making it one of the least expensive cities in the US.