Killeen TX Home Values On the Rise

Many Killeen homeowners, home sellers, and buyers have noticed the slight rise in property value across Central Texas. According to the most recent Zillow Report, home values across town have seen a 6% rise since 2018. Although the following year is speculated to see only around a 2% rise, some homeowners and sellers are starting to feel the pressure that comes with higher values. The median home value in Killeen is $121,300, making it one of the cheapest places to live in Central Texas. In this article, our KDH HomeFinder team will aim to explain the causes and effects behind the rise of home values around Killeen, TX.

Rising Home Values Across Central Texas

Temple, TX Properties

On average, Temple, TX properties have experienced a 12.3% rise over the past year and are expected to rise another 6% by 2020. The median home value in Salado is $136,400.

Belton, TX Properties

On average, Belton, TX properties have experienced an 8.3% rise over the past year and are expected to rise another 3.9% by 2020. The median home value in Salado is $183,300.

Lampasas, TX Properties

On average, Lampasas, TX properties have experienced an 8% rise over the past year and are expected to rise another 3.5% by 2020. The median home value in Salado is $134,400.

Salado, TX Properties

On average, Salado, TX properties have experienced a 10.1% rise over the past year and are expected to rise another 2.8% by 2020. The median home value in Salado is $284,200.

Property Tax Increases

One of the main effects the rise in value has on our local residents is higher property taxes. Although sellers can make a bit more due to higher values, homeowners around Killeen will have to pay higher tax rates year after year if their property value keeps rising.

The main concern to keep your eye out for is the possible rise of property taxes across the state of Texas. Earlier in 2019, the state government pitched an idea to raise property taxes in order to help levy taxes elsewhere.

New Construction

There is also plenty of new construction in the area, which generates enough inventory to satisfy the housing demand around Killeen. Some of the newest property areas in Killeen include E Rancier Ave, E Rancier Ave / N Young Dr, and E Stagecoach. These new homes are sure to raise the property values within their respective communities.

Killeen ISD

The latest rumors and speculations for the Killeen Independent School District (KISD) also has a big role in this value rise. KISD recently developed its STEM (Science, Technology, Engineering, and Mathematics) and other development programs, which are aimed at helping stimulate education across town. You can expect to see a positive impact of these programs in the future.

Killeen Since the 2008 Housing Crash

Evidently, Killeen was one of the few places the 2008 housing crash did not drastically affect the local economy. Mostly because the home values around the area never climbed as much as other properties in states like Florida, California, and Nevada.

Since then, the housing market in Killeen has experienced healthy growth and has a promising future. The average home price is predicted to keep rising within the next couple of years.