Which Of The 8 Amarillo Metro Cities Is The Most Affordable?
So you're looking for somewhere to live in the Amarillo metro area you say. Well, you must first determine what is most important to you.
Everyone has a different level of importance placed on things, and that's typically where you want to start. Is it a low home price? Maybe it's convenience to work.
Well, good news. We're going to make your job a little bit easier for you. There are more cities in the Amarillo metro area than you probably think, which means there are several places for you to choose from when it comes to making your move.
We've found a list of median home prices in the Amarillo metro area, and no matter where it is in your list, home prices will always play a part in determining where you eventually end up living.
So without further ado, let's break down the least expensive to most expensive places to live in the Amarillo metro area.
Out of the eight Amarillo metro areas looked at, Happy checked in with the lowest home prices anywhere in the area, and by a pretty significant margin. The average home price in Happy is $123,978 which is extremely low, especially in today's housing market.
That's not to say Happy is immune to the rising home prices as they've risen 19.5% over the last five years. However, it's still the cheapest place to live by a wide margin.
Checking in at number seven on the list is Claude. Home prices there are over $25,000 higher than Happy, coming in at an average of $159,342. The biggest difference between Claude and Happy? The rise in price of houses has skyrocketed in Claude, as they're up 41% over a five-year period.
As we work down the list, Panhandle comes in at number six. Homes in the area are just a touch higher than Claude at $165,201, so it really just comes down to which city you're more enamored with or how much house you get for the price between Claude and Panhandle. Home prices have risen by 43.3% in the last five years here, so it's a growing area for sure.
Coming in much lower on the list than I personally anticipated was Amarillo proper. With an average home price of $186,066, it's still VERY affordable to live within city limits. If you're looking to buy a home that you'll see a good rise in value on in a short amount of time, this is where you want to buy. Over the last five years, Amarillo home prices are up 45.3%, but the most impressive number is over the last year, home prices in the city have risen by 10%, making it the biggest one-year jump in the Amarillo metro area.
Now we start to work our way into the smaller cities of the Amarillo metro area. Palisades comes in at number four on the list and is our first entry into average home prices over $200,000 as it checks in with an average price of $208,311. Over the last five years, people have started to discover Palisades as the rise in home value is up a stunning 56.9%.
We're into the top three now, and Canyon has officially found its way onto the list. With an average home price of $257,459, it's our first entry into the quarter-million dollar homes. You start to find some pretty large homes in and around Canyon, and it's not overly loaded with houses which also drives the prices up. Over the last five years, Canyon home prices have risen 41.6%, so you know you're going to see an increase in value from the second you purchase it.
Here comes the money. If you've recently won the lottery, or have a couple of really good-paying jobs, you can look into sliding into Timbercreek Canyon. The average home price here is a stunning $415,805, and the growth in home value is unreal. Over the last year, homes in Timbercreek Canyon have risen 9.7%, and in five years they've seen a rise of 55.3% which is the biggest gain over a five-year period in the Amarillo metro area.
Here we are, number one on the list, and it should surprise no one when it comes to average home price. The honor belongs to Lake Tanglewood and checks in as the only city with average homes over half a million dollars. In fact, it's WAY over that as the average home will run you $637,681. Now to be fair, every home in the city seems to be a huge, sprawling estate type of home, but the value is there. Over the last five years, home prices have risen by 41.2%, so you're getting value even at that price.