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City of Melissa Texas 2015 Comprehensive Plan Update Page 1.22 Chapter 1 Existing Conditions Analysis Housing Characteristics It is important to understand the condition of existing homes and the quality of residential neighborhoods that the City has to offer. It also has a direct effect on the desirability of the City of Melissa as a place to not only live but to continue to live work and play. This section provides an outline of the City of Melissas housing characteristics. Housing Value Housing values are important to examine because they indicate what the City can expect its future housing stock to contribute to the local economy and the aesthetic quality of Melissa. Table 1-9 reflects the total housing composition for both 2000 and 2008-2012. In 2000 16 percent of the housing stock was valued at less than 50000. By 2008-2012 that number decreased to well below one percent. Another significant change can be seen for housing valued between 150000 and 199999. In 2000 there were less than two percent but by 2008-2012 that percentage increased to almost 20 percent of the housing stock. Homes valued between 200000 and 499999 has decreased in percentage however those valued 500000 or more have increased. This is an indication of new homes are being built for the people of Melissa that reflect todays demand for increased square footage while smaller homes are slowly disappearing off the housing market. Figure 1-17 graphically depicts the changing of housing stock in Melissa. Table 1-9. Housing Value of Owner-Occupied Units 2000 and 2008-2012 House Values 2000 2008-2012 Melissa Texas Melissa Texas Owner-Occupied Units 299 3849585 1319 5609007 Less than 50000 47 15.7 875444 22.7 6 0.5 696888 12.4 50000-99999 57 19.1 1561509 40.6 134 10.2 1361239 24.3 100000-149999 28 9.4 700830 18.2 286 21.7 1238795 22.1 150000-199999 4 1.3 335179 8.7 261 19.8 895978 16.0 200000-299999 100 33.4 223968 5.8 432 32.8 758661 13.5 300000-499999 55 18.4 104821 2.7 120 9.1 436502 7.8 500000-999999 8 2.7 37697 1.0 71 5.4 167999 3.0 1000000 or more 0 0.0 10137 0.3 9 0.7 52945 0.9 Median house value 218800 82500 191100 128000 Source U.S. Census 2000 2008-2012 American Community Survey 5-Year Estimates