The story of this market
The typical home in ZIP 79042 sells for about $250,000, or $135 per square foot.
Prices are up +6.3% from a year ago, so sellers still have some momentum. Homes take about 53 days to sell. HUD's fair market rent for a two-bedroom is $1,282 a month.
ZIP 79042 — Happy
The Amarillo housing market remains affordable and stable, with a median sale price of $250,000 and a year-over-year price increase of 6.3%. While inventory levels are moderate, the market is seeing faster sales compared to the previous year, driven by steady demand and a resilient local economy. Buyers are finding a balanced environment, though rising property taxes and insurance costs remain key considerations for long-term affordability.
This area is well-suited for family buyers and first-time homeowners seeking affordability and a stable cost of living. It also attracts commuters who work in the regional healthcare or energy sectors and prefer a suburban lifestyle.
Median prices moved up 6.3% year over year.
Homes spend a median of 53 days on market with 5.2 months of supply — a balanced-paced market.
18% of listings have cut prices · homes sell at 98% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 4.1% · poverty 13.2% — a stable, low-distress profile.
Researched annual trajectory for this ZIP, from published historical series
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 4.7%/yr trend — a deterministic estimate, not a published forecast or guarantee.
Median annual property tax paid on this ZIP's residential parcels
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 3.8%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
net influx — more people moved in than out
ZCTA 79042, Texas
Crime rates in the Amarillo area are generally higher than the national average, with property crime being the most frequently reported issue. Local law enforcement continues to focus on community policing initiatives to address these trends.
The area is served by the Amarillo Independent School District, which maintains a mix of highly-rated magnet programs and standard neighborhood schools. Overall school quality is considered stable with ongoing investments in vocational and college-prep curricula.
The region faces significant exposure to high winds, occasional severe thunderstorms, and wildfire risks during dry seasons. Property insurance premiums are influenced by these environmental factors, necessitating comprehensive coverage for homeowners.
Economic momentum is driven by the healthcare, energy, and agricultural sectors, with major employers like Tyson Foods and local hospital systems anchoring the economy. Infrastructure development is focused on regional highway connectivity and utility expansion to support modest population growth.
Composed from the ARED governance burden registry — tier-native tax structure (state + county + city + special districts), never averaged. State (Texas) — Senior (65+) and Disabled Homestead Exemption and School Tax Ceiling: Grants an additional mandatory $10,000 exemption from ISD appraised value (Taxable Value_ISD = Appraised Value - $100,000 - $10,000) and establishes an absolute statutory tax freeze (school tax ceiling): total ISD property taxes cannot exceed the dollar ceiling established in the… State (Texas) — General Residence Homestead Exemption and 10% Valuation Growth Cap: Imposes mandatory state-level valuation deductions and growth limitations on the qualifying homestead: (1) Mandates a $100,000 deduction from appraised value for independent school district (ISD) maintenance and operations/debt taxation: Taxable Value_ISD = Appraised Value - $100… State (Texas) — Ad Valorem Real Property Taxation and Assessment Ratio: Mandates ad valorem appraisal of all real property at 100% of fair market value as of January 1 each tax year (Assessment Ratio = 1.00).
Commuting is primarily car-dependent, with most residents utilizing major corridors like I-40 and I-27 to reach employment hubs in central Amarillo. Public transit options are limited, resulting in average commute times consistent with mid-sized regional cities.
Residents have access to local parks, community centers, and the nearby Palo Duro Canyon State Park for outdoor activities. Shopping and dining are concentrated along major arterial roads, providing convenient access to retail services.
The rental market is characterized by moderate vacancy pressure and steady demand, particularly for multi-family units. Rent growth has been modest, with a notable presence of long-term investors and limited short-term rental saturation.
The economy is anchored by healthcare, energy, and food processing, with significant employment provided by Tyson Foods and regional medical centers. The area maintains a stable industrial base with consistent demand for labor.
Transportation infrastructure is centered on the I-40 and I-27 highway corridors, which facilitate regional movement. Public transit is provided by City of Amarillo Transit, though private vehicle ownership remains the primary mode of commuting.
Development is currently focused on expanding residential subdivisions on the city's southern and western edges. Infrastructure upgrades are underway to support increased traffic flow and utility capacity in these growth zones.
The Potter-Randall Appraisal District manages property assessments, utilizing mass appraisal techniques to determine market values annually. Property owners have the right to protest valuations through a formal administrative process.
Parcels are subject to various special districts, including school districts, hospital districts, and municipal utility districts that fund local infrastructure and services.
Property insurance markets are sensitive to regional weather patterns, including wind and hail risks. Premiums are generally competitive but reflect the necessity of coverage for severe weather events.
The state continues to experience positive net domestic migration, driven by job growth and a relatively low cost of living compared to coastal markets.
Texas operates as a non-judicial foreclosure state, allowing for a streamlined process that typically requires a 21-day notice period before a trustee sale.
Sellers are required to provide a written disclosure notice to buyers, detailing the condition of the property and any known defects, typically provided before the execution of a binding contract.
Data retrieved from data.census.gov using ZCTA-level tables.
Public schools whose reported address is in this area (NCES). Not attendance boundaries — schools that serve residents may sit outside it. Check the district's address locator for assignment.
A major regional attraction offering hiking, biking, and scenic views.
A peaceful green space featuring diverse plant collections and seasonal events.
The primary regional shopping destination for the Amarillo area.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.