The story of this market
The typical home in ZIP 79783 sells for about $432,000, or $194 per square foot.
Prices are down 1.3% from a year ago, which gives buyers more room to negotiate. Homes take about 47 days to sell. HUD's fair market rent for a two-bedroom is $1,400 a month.
ZIP 79783 — Tarzan
The housing market in 79783 is currently balanced, reflecting broader trends in the Midland metropolitan area. Prices have seen a slight year-over-year decline, while inventory levels and days on market suggest a stable environment for buyers and sellers. The local economy remains heavily tied to the energy sector, which continues to be the primary driver of housing demand.
This area is well-suited for energy-sector professionals, families seeking suburban space, and investors looking for exposure to the Permian Basin economy.
Median prices moved down 1.3% year over year.
Homes spend a median of 47 days on market with 0.0 months of supply — a fast-moving market.
28% of listings have cut prices · homes sell at 100% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 4.0% · poverty 8.0% — a stable, low-distress profile.
ZCTA 79783
The area is heavily influenced by the Permian Basin energy sector, which drives local economic momentum and infrastructure development.
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).
Commutes are primarily car-dependent, with residents traveling toward the Midland-Odessa employment core via regional highway corridors.
Local recreation includes access to regional parks, community sports facilities, and shopping centers within the broader Midland metropolitan area.
The rental market is characterized by steady demand driven by the energy industry workforce, with vacancy rates influenced by regional economic cycles.
The economy is anchored by the oil and gas industry, with significant employment in energy exploration, production, and support services.
Transportation is dominated by private vehicle use, with major highway access connecting the area to the broader Permian Basin.
Development is largely focused on supporting energy-sector infrastructure and residential expansion to accommodate workforce growth.
The Central Appraisal District manages property assessments for tax purposes, typically reflecting market value trends in the energy-dependent economy.
Parcels may be subject to various special districts, including school districts, hospital districts, and potential municipal utility districts.
Property insurance premiums are influenced by regional weather risks, including wind and hail exposure common to West Texas.
Data aggregated from regional census and market reports.
Provides local green space and recreational facilities.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.