by M. Anthony Carr
In a real estate world of turbulent sales data, when a market presents itself as stable and growing, that's something to talk about. San Angelo, Texas, with nearly 85,000 residents, is one of those markets.
With an average sales price of $110,000, a single-family home in this rural Texas community is nearly half the national average, but appreciating at 6 percent for the same type home a year ago, according to Eppraisal.com, a price trend evaluation web site.
The city touts its affordable housing as a reason to move to this frontier town, reporting that new homes and lots sell in the range of $85 to $100 per square foot. Rentals are also affordable, with two-bedroom unfurnished apartments ranging from $430 to $680.
Its strong economic setting is reflected in various areas, including its per capita income (which was up 3.3 percent in 2007); retail sales and single family home building permits. Though not totally insulated from the dip in home sales across the country, San Angelo's market has remained strong.
In addition, the community continues to enjoy a strong military presence with Goodfellow Air Force Base, which was not affected with the latest Base Realignment and Closure report. The base contributes to the local economy with a $66 million budget, supporting almost 15,000 active duty personnel, dependents, retirees and civilians.
Two of its largest employers include Angelo State University and Verizon -- with more than 1,300 employees each.
Published: August 5, 2008
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Mr. Carr has covered real estate since 1989. He is the author of