HOUSTON (CW39) The real estate market in Texas is strong, but have you ever wondered what states have fewer older homes versus younger homes? Well, a new report out takes a look at which states across the country have the most homes that were built before 1940.
Texas ranks 6th for smallest share of homes built before during the World War 2 era. Take a look at the full report, you might find a few surprises.
To find which states have the highest percentage of homes built before 1940, researchers at Filterbuy analyzed housing data from the U.S. Census Bureau’s 2019 American Community Survey 1-Year Estimates. Researchers also analyzed each state’s percentage of homes built after 2010, as well as the state’s median home price based on the Zillow Home Value Index.
The analysis found that in Texas, 3.4% of all homes were built at least 80 years ago.
Out of all U.S. states, Texas has the 6th smallest share of homes built before 1940. Here is a summary of the data for Texas:
Share of homes built before 1940: 3.4%
Number of homes built before 1940: 381,734
Share of homes built in 2010 or later: 14.0%
Number of homes built in 2010 or later: 1,577,850
Median home price: $215,658
For reference, here are the statistics for the entire United States:
Share of homes built before 1940: 12.3%
Number of homes built before 1940: 17,219,141
Share of homes built in 2010 or later: 7.2%
Number of homes built in 2010 or later: 10,008,104
Median home price: $256,663
Older homes have their pros and cons. According to research from the National Association of Realtors, many buyers who purchase existing homes appreciate their charm and character, and others believe that these homes offer lower prices or better value. On the other hand, older homes also may be more expensive to own due to structural issues, outdated systems, and cosmetics, as well as the presence of hazardous materials. Materials, like asbestos, lead-based paint, and radon were once common building materials; however, these materials are now known to be hazardous to human health. In fact, the Environmental Protection Agency states that exposure to asbestos increases the risk of developing lung disease such as lung cancer. Additionally, mold and volatile organic compounds (VOCs) from remodeling activities are more common in older homes.
Not surprisingly, some parts of the country are more likely to have older homes than others. States with the most old homes are located in the Northeast. More specifically, more than 30 percent of homes in Massachusetts, New York, and Rhode Island were built before 1940. By contrast, states in the South and the West have a significantly smaller share of older homes—fewer than 2 percent of homes in Alaska, Arizona, and Nevada were constructed before 1940.
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