There are currently 2,103 real estate properties in Lorena, TX, with a median automated valuation model (AVM) price of $344,275.00. What is an AVM? It is a smart computer program that analyzes and predicts the approximate value of a home, property or land in Lorena, TX, based on current market trends, comparable real estate sales nearby, historical data and, of course, property features, among other variables. These automated home estimates are often very helpful, providing buyers and sellers with a better idea of a home’s value ahead of the negotiation process. For example, the average home price in Lorena, TX, is $401,218.00, with the most expensive house in Lorena, TX, topping out at $8,574,500.00 and the cheapest home in Lorena, TX, clocking in at $28,453.00. In other words, there’s something for every potential homebuyer or savvy investor in Lorena, TX!
With the expiration of certain local, state and federal housing-related restrictions and mandated programs, the rental market in Lorena, TX, is on a rollercoaster ride. The average rent price in Lorena, TX, is $1,676.00. Indeed, when looking to rent in Lorena, TX, you can expect to pay as little as $790.00 or as much as $3,220.00, with the average rent median estimated to be $1,610.00. The good news is that finding an affordable and desirable property to rent in Lorena, TX -- whether it’s apartments, townhomes, condominiums or single-family homes -- is made easier with knowledge of the local market and, of course, a little patience.
Lorena is located in McLennan, Texas, with an estimated municipal population of 1,755 residents. All of the best foreclosed homes for sale in Lorena are located in the following zip code areas on Foreclosure.com: 76655. The estimated population per square kilometer (.62 miles) in Lorena is 199.
So, about how much do homes cost in Lorena? The most recent median value of resident-owned homes in Lorena is 161,497. An estimated 75.5 percent of households in Lorena own their homes, with an average family size of 3.25. The median household income in Lorena is 78,750, with39.9 percentage of households earning at least $100,000 annually. For working parents and professionals who are searching for cheap homes in Lorena, the median commute time of resident workers (in minutes) is 22.5. And last, but certainly not least, are you looking for homes to rent in Lorena? If so, the average rent price paid by renters in Lorena is 832, according to recent statistics.
Where a home is located is almost just as important as the home itself. Whether you are a first-time homebuyer or are relocating to Lorena, it is essential to take a deep dive into your potential future neighborhood. Homeownership is often a long-term relationship; therefore, be sure to do your due diligence to ensure that you make the best long-term decision.
The median age of residents in Lorena is 33.9, split between 50.9 percent male versus 49.1 female. The percentage of residents who report being married in Lorena is 51.6, with an average family size of 3.25.
The percentage of residents who report their race in Lorena is as follows:
| White | 91.2% |
| Black / African American | 0% |
| Asian | 3.5% |
| American Indian / Alaskan Native | 0.2% |
| Native Hawaiian / Other Pacifc Islander | 0% |
| Multi-racial | 1.2% |
| Other | 4% |
Looking for family-friendly neighborhoods in and/or near Lorena? Or maybe you are searching for 55+ active adult communities in and/or near Lorena?
The percentage of residents who report their age in Lorena is as follows:
| Under 10 | 12.5% |
| Aged 10-19 | 18.9% |
| 20s | 13.6% |
| 30s | 10.4% |
| 40s | 16.2% |
| 50s | 10.1% |
| 60s | 11.6% |
| 70s | 4.4% |
| 80+ | 2.4% |
It was a rollercoaster ride for academics in 2020, with school districts throughout the nation transferring their classes online because of the global pandemic. Numerous school districts will continue online courses, while others will welcome students back to campus. Regardless, homebuyers are shopping for homes in Lorena with dedicated in-home learning spaces, as well as for homes located within the best school systems for in-person instruction in Lorena.
How do you know that living in -- or moving to -- Lorena is right where you need to be? Perhaps you grew up in Lorena or already live nearby; therefore, the decision to buy a home in Lorena is a no-brainer. For others, however, it may not be such a straightforward or simple decision. Whether you are relocating to Lorena for work or just looking for a fresh start, getting a read on a neighborhood from afar (online) can be tricky... and exhausting.
Here are some questions to ask yourself when shopping for foreclosed homes for sale in Lorena:
In short, it always helps to create a “Pros vs. Cons” list of what you need in a home and/or neighborhood like Lorena.
Prospective homebuyers are clearly taking advantage of the low interest rates and numerous government assistance programs. These low interest rates mean homebuyers in Lorena can now afford much more house for the same monthly payment (if interest rates were higher). Motivated and opportunistic sellers in Lorena, meanwhile, can field multiple offers from more qualified buyers.
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