2018 Westlake Way · Houston, TX 77084

$220,000

4 bd · 2.5 ba · 2,003 sqft · SingleFamily public records · 93 Days on market

Built 1975 8,163 sqft lot $110/sqft · 13% below area Est $254k · 13% under

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Why this score? — see what drove the C- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• ARV discount +13.5/15.0
• Cash flow +11.5/30.0
• Schools +5.7/10.0
• 1% rule +4.4/10.0
• Appreciation +4.3/10.0
• Livability +3.7/5.0
• DSCR +3.4/10.0
• Condition / age +2.5/5.0
• Rent growth +1.8/5.0

Listing remarks MLS

Charming 4-bedroom, 2.5-bath home located in the established Westlake community. This well-maintained property features a living area with abundant natural light and a functional layout ideal for everyday living and entertaining. The kitchen offers ample cabinet space and opens to the dining area for easy gatherings. The primary suite includes a private bath and generous closet space. Step outside to a large backyard featuring a private pool. Conveniently located with easy access to I-10, shopping, dining, and nearby schools. Great opportunity to own in a desirable neighborhood.

Key facts

• Private pool
• Large backyard
• Ample cabinet space

Tags

• LARGE BACKYARD
• PRIVATE POOL
• AMPLE CABINET SPACE
• EASY ACCESS TO I-10
• NEARBY SCHOOLS

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $220k.

Deal economics

• At list price, monthly cash flow is $-71 ($-846/yr) — negative.
• To cash-flow at today's rent, offer at most $208k (5.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $207k (5.8% below list).
• Recommended offer: $200k (9.0% below list) — sets the bar for market timing.
• Cap rate 5.9% vs local median 3.2% in Houston — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 74/100 on livability (#184 in TX, #4,771 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, cost of living A+, housing A+; Watch: schools D, crime F.
• Katy ISD (suburban): math 61% / reading 63% proficiency, ranked #29 of 826 in TX (top 4%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents soft (-2.9%/yr); 494 active listings in the ZIP; 34 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 41% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 29,883 units permitted in Harris County in 2024 (8,621 in 5+ unit buildings).
• This rent runs 31% of the median local income ($81k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-1.4%/yr); year-one equity from $2k of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Harris County population projected at +47% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 93 days — a 9% lower offer ($200k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 5y ago; this cycle's ask has dropped $45k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $72k; list at $220k implies a 203% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.5% of price.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $200,200 (9.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 93 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
3. Built in 1975 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
8. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
9. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
10. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
11. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.94% ✗
• Cap rate: 5.91%
• Cash-on-cash: -1.37%
• DSCR: 0.94
• GRM: 8.8

CMA / ARV

• ARV (median comp): $253,534
• List price: $220,000
• Delta: -13.23%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2302 Shady Brook Dr	0.27mi	3/2.0 (-1)	1,969 (-2%)	2mo	$229,000	$116	76
19507 Hunt Lake Ln	0.23mi	4/2.0	1,847 (-8%)	1mo	$253,000	$137	74
19407 Southaven Dr	0.35mi	3/2.0 (-1)	1,969 (-2%)	2mo	$250,000	$127	73
19543 Quiet Brook Dr	0.29mi	3/2.0 (-1)	1,976 (-1%)	6mo	$263,000	$133	72
1911 Mission Creek Cir	0.38mi	4/2.0	2,054 (+2%)	7mo	$240,000	$117	70
19707 San Gabriel Dr	0.50mi	4/2.0	1,904 (-5%)	1mo	$250,000	$131	66
19418 Lake Hollow Ln	0.18mi	3/2.5 (-1)	2,297 (+15%)	2mo	$275,500	$120	60
19326 Gagelake Ln	0.15mi	3/2.0 (-1)	1,711 (-15%)	2mo	$235,000	$137	60
19718 Mission Mill Ln	0.45mi	3/2.0 (-1)	1,769 (-12%)	1mo	$256,900	$145	52
2627 Cypressvine Dr	0.71mi	3/2.0 (-1)	1,852 (-8%)	7mo	$270,000	$146	41
19427 Harvest Stream Way	0.74mi	3/2.0 (-1)	1,824 (-9%)	3mo	$250,000	$137	41
19702 Franz Rd	0.61mi	3/2.0 (-1)	1,720 (-14%)	8mo	$260,000	$151	35

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-1.4% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -12.4%
• Equity multiple: 0.50×
• Total profit: $-30,892
• Equity at exit: $48,950

10-year hold

• IRR: -8.9%
• Equity multiple: 0.32×
• Total profit: $-41,604
• Equity at exit: $47,939

Cash invested: $61,600 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 87 Strongly Landlord-Friendly
• State Texas: 87 Strongly Landlord-Friendly · R+5
• County: — inherits STATE
• City: — inherits STATE

3-day notice; statewide preemption; one of the fastest eviction climates; Travis County (Austin) slightly slower.

Methodology + full state rankings →

ZIP-level market 77084

• Home prices YoY: -0.6%
• Rents YoY: -2.9%
• Active inventory: 494
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $2,073 high
• Mortgage (P&I): −$1,154
• Tax from tax record: −$463 /mo · $5,556/yr
• Insurance: −$92
• HOA: −$0
• Vacancy / Maint / Mgmt: −$435
• Net cashflow: $-71

Break-even live

Break-even rent $2,162

Max offer price $207,539

Occupancy floor 98%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $55,000
• Closing costs: $6,600
• Reserves months: —
• Total cash needed: —

Rent comps 34 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1710 Blindlake Dr Houston, TX	3.0	2.0	1406	$1,750	$1.24	44d	1	0.27mi
2219 Greenhouse Rd Unit 3174 Houston, TX	3.0	2.0	1425	$1,894	$1.33	10d	1	0.31mi
2219 Greenhouse Rd Unit 2252 Houston, TX	3.0	2.0	1425	$1,905	$1.34	43d	1	0.31mi
2219 Greenhouse Rd Unit 3112 Houston, TX	3.0	2.0	1425	$1,862	$1.31	2d	1	0.33mi
2411 Greenhouse Rd Houston, TX	1.0–3.0	1.0–2.0	1109	$2,008	$1.81	1d	37	0.34mi
2411 Shady Brook Dr Houston, TX	3.0	2.0	1715	$1,916	$1.12	5d	1	0.40mi
2218 Greenhouse Rd Houston, TX	1.0–3.0	1.0–2.0	1066	$2,236	$2.10	2d	26	0.46mi
2040 Greenhouse Rd Houston, TX	1.0–3.0	1.0–2.5	1209	$2,449	$2.03	1d	28	0.47mi
19638 Southaven Dr Houston, TX	3.0	2.0	1684	$1,769	$1.05	16d	1	0.48mi
2500 Greenhouse Rd Unit 3112 Houston, TX	3.0	2.0	1440	$2,051	$1.42	2d	1	0.52mi
2500 Greenhouse Rd Unit 2533 Houston, TX	3.0	2.0	1440	$2,094	$1.45	43d	1	0.52mi
2500 Greenhouse Rd Unit 3174 Houston, TX	3.0	2.0	1440	$2,083	$1.45	10d	1	0.52mi
1550 Foxlake Dr Unit 1583 Houston, TX	3.0	2.0	1426	$2,428	$1.70	2d	1	0.55mi
2607 Cypressvine Dr Houston, TX	3.0	2.0	1527	$2,000	$1.31	19d	1	0.66mi
2606 Olster Dr Houston, TX	3.0	2.0	1527	$1,571	$1.03	5d	1	0.66mi
2622 Broomsedge Dr Houston, TX	3.0	2.0	1746	$1,050	$0.60	5d	1	0.74mi
19407 Dawn Canyon Rd Houston, TX	3.0	2.0	1576	$1,716	$1.09	43d	1	0.85mi
20114 Fort Stanton Dr Katy, TX	4.0	2.5	2533	$1,951	$0.77	43d	1	0.99mi
19434 Brook Village Rd Houston, TX	3.0	2.0	1822	$1,950	$1.07	43d	1	1.02mi
1806 Usher Ct Katy, TX	4.0	2.5	2568	$2,350	$0.92	20d	1	1.15mi
1550 Westborough Dr Katy, TX	3.0	2.0	1670	$1,850	$1.11	43d	1	1.17mi
20102 Twilight Canyon Rd Katy, TX	4.0	2.5	1633	$3,395	$2.08	2d	1	1.22mi
2919 Amber Cliff Dr Katy, TX	3.0	2.0	1526	$1,900	$1.25	43d	1	1.24mi
223 Wild Oak Run Houston, TX	3.0	3.0	2832	$3,000	$1.06	24d	1	1.28mi
1550 Westborough Dr Unit 3112 Katy, TX	3.0	2.0	1670	$1,931	$1.16	2d	1	1.31mi
1550 Westborough Dr Unit DW5 Katy, TX	3.0	2.0	1670	$1,850	$1.11	2d	1	1.31mi
1550 Westborough Dr Unit 1583 Katy, TX	3.0	2.0	1670	$1,974	$1.18	43d	1	1.31mi
1550 Westborough Dr Unit 3174 Katy, TX	3.0	2.0	1670	$1,963	$1.18	10d	1	1.31mi
2923 Granite Vale Rd Houston, TX	4.0	2.0	2319	$2,350	$1.01	43d	1	1.33mi
333 Dominion Dr Katy, TX	1.0–3.0	1.0–2.0	1043	$1,969	$1.89	43d	1	1.35mi
1772 S Parkview Dr Houston, TX	3.0	2.0	1400	$1,910	$1.36	43d	1	1.40mi
1672 Barker Cypress Rd Houston, TX	3.0	2.0	1435	$1,785	$1.24	43d	1	1.41mi
1672 Barker Cypress Rd Houston, TX	3.0	2.0	1435	$1,785	$1.24	24d	1	1.41mi
17972 Park Row Blvd Houston, TX	3.0	2.0	1400	$1,890	$1.35	43d	1	1.49mi

Listing history 24 events

1. 2026-06-18
   days on market $220,000 Active 93 DOM
2. 2026-06-17
   days on market $220,000 Active 92 DOM
3. 2026-06-16
   days on market $220,000 Active 91 DOM
4. 2026-06-15
   days on market $220,000 Active 90 DOM
5. 2026-06-13
   days on market $220,000 Active 88 DOM
6. 2026-06-09
   days on market $220,000 Active 84 DOM
7. 2026-06-08
   days on market $220,000 Active 83 DOM
8. 2026-06-07
   days on market $220,000 Active 82 DOM
9. 2026-06-04
   days on market $220,000 Active 79 DOM
10. 2026-06-03
    days on market $220,000 Active 78 DOM
11. 2026-06-02
    days on market $220,000 Active 77 DOM
12. 2026-06-01
    days on market $220,000 Active 76 DOM
13. 2026-05-31
    days on market $220,000 Active 75 DOM
14. 2026-05-07
    price $230,000 585-char remark

    Show marketing remark (585 chars)

    Charming 4-bedroom, 2.5-bath home located in the established Westlake community. This well-maintained property features a living area with abundant natural light and a functional layout ideal for everyday living and entertaining. The kitchen offers ample cabinet space and opens to the dining area for easy gatherings. The primary suite includes a private bath and generous closet space. Step outside to a large backyard featuring a private pool. Conveniently located with easy access to I-10, shopping, dining, and nearby schools. Great opportunity to own in a desirable neighborhood.

15. 2026-04-25
    price $240,000 585-char remark

    Show marketing remark (585 chars)

    Charming 4-bedroom, 2.5-bath home located in the established Westlake community. This well-maintained property features a living area with abundant natural light and a functional layout ideal for everyday living and entertaining. The kitchen offers ample cabinet space and opens to the dining area for easy gatherings. The primary suite includes a private bath and generous closet space. Step outside to a large backyard featuring a private pool. Conveniently located with easy access to I-10, shopping, dining, and nearby schools. Great opportunity to own in a desirable neighborhood.

16. 2026-04-10
    price $250,000 585-char remark

    Show marketing remark (585 chars)

    Charming 4-bedroom, 2.5-bath home located in the established Westlake community. This well-maintained property features a living area with abundant natural light and a functional layout ideal for everyday living and entertaining. The kitchen offers ample cabinet space and opens to the dining area for easy gatherings. The primary suite includes a private bath and generous closet space. Step outside to a large backyard featuring a private pool. Conveniently located with easy access to I-10, shopping, dining, and nearby schools. Great opportunity to own in a desirable neighborhood.

17. 2026-03-17
    listed $265,000 Active 585-char remark

    Show marketing remark (585 chars)

    Charming 4-bedroom, 2.5-bath home located in the established Westlake community. This well-maintained property features a living area with abundant natural light and a functional layout ideal for everyday living and entertaining. The kitchen offers ample cabinet space and opens to the dining area for easy gatherings. The primary suite includes a private bath and generous closet space. Step outside to a large backyard featuring a private pool. Conveniently located with easy access to I-10, shopping, dining, and nearby schools. Great opportunity to own in a desirable neighborhood.

18. 2021-09-16
    soldstatus
19. 2021-09-08
    soldstatus Sold 682-char remark

    Show marketing remark (682 chars)

    Welcome home to 2018 Westlake Way located in the community of Westlake and zoned to Katy ISD. This lovely home features 4 bedrooms and 2 1/2 baths. Entertain your guests and family in the formal and casual areas. The stunning kitchen features white cabinetry and SS appliances, . The family room includes a brick fireplace, lush carpeting, and is open to the kitchen/breakfast room. End your days in the spacious master suite. The master bath includes a separate shower and the bedroom features two closets! Don't forget to step out back for a view of the covered patio and sparkling pool! You don't want to miss all this gorgeous home has to offer! Schedule your showing today!

20. 2021-08-08
    status Pending 682-char remark

    Show marketing remark (682 chars)

    Welcome home to 2018 Westlake Way located in the community of Westlake and zoned to Katy ISD. This lovely home features 4 bedrooms and 2 1/2 baths. Entertain your guests and family in the formal and casual areas. The stunning kitchen features white cabinetry and SS appliances, . The family room includes a brick fireplace, lush carpeting, and is open to the kitchen/breakfast room. End your days in the spacious master suite. The master bath includes a separate shower and the bedroom features two closets! Don't forget to step out back for a view of the covered patio and sparkling pool! You don't want to miss all this gorgeous home has to offer! Schedule your showing today!

21. 2021-07-31
    status Option Pending 682-char remark

    Show marketing remark (682 chars)

    Welcome home to 2018 Westlake Way located in the community of Westlake and zoned to Katy ISD. This lovely home features 4 bedrooms and 2 1/2 baths. Entertain your guests and family in the formal and casual areas. The stunning kitchen features white cabinetry and SS appliances, . The family room includes a brick fireplace, lush carpeting, and is open to the kitchen/breakfast room. End your days in the spacious master suite. The master bath includes a separate shower and the bedroom features two closets! Don't forget to step out back for a view of the covered patio and sparkling pool! You don't want to miss all this gorgeous home has to offer! Schedule your showing today!

22. 2021-07-19
    listed $239,900 Active 682-char remark

    Show marketing remark (682 chars)

    Welcome home to 2018 Westlake Way located in the community of Westlake and zoned to Katy ISD. This lovely home features 4 bedrooms and 2 1/2 baths. Entertain your guests and family in the formal and casual areas. The stunning kitchen features white cabinetry and SS appliances, . The family room includes a brick fireplace, lush carpeting, and is open to the kitchen/breakfast room. End your days in the spacious master suite. The master bath includes a separate shower and the bedroom features two closets! Don't forget to step out back for a view of the covered patio and sparkling pool! You don't want to miss all this gorgeous home has to offer! Schedule your showing today!

23. 1996-10-14
    soldstatus
24. 1995-12-01
    soldstatus $72,500

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast TX · Resets to sale price

• Current annual tax: $5,556 · $463/mo
• Projected year-2 tax: $5,556 · $463/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥110°F today · 22 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,878
• − Mortgage interest: −$12,323
• − Property taxes: −$5,556
• − Insurance: −$1,100
• − Repairs & maintenance: −$1,990
• − Management: −$1,990
• − Depreciation: −$6,400
• Taxable loss: −$4,482
• Est. tax savings @ 24.0%: +$1,076
• After-tax cash flow: $229/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Katy ISD
• NCES district ID: 4825170
• Math proficiency: 61% ▼ -7.00%
• Reading proficiency: 63% ▼ -3.00%
• Median HH income: $90,312
• Composite: 56.59/100
• National rank: #1146
• State rank: #29 of 826 in TX

Livability — Houston

• Score: 74/100
• State rank: #184
• US rank: #4771

Category grades

Amenities A+ Commute A Cost of living A+ Crime F Employment C Housing A+ Health & safety A- User ratings F

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Harris County · 4,702,590 people
• City population: 3,226,434
• Metro: Houston-The Woodlands-Sugar Land, TX
• Population (ZIP): 110,217
• Household income: $80,575
• Rent vs Own: 40.0% rent · 60.0% own
• Severe rent burden: 3257.0

Population outlook (Harris County) Hauer SSP2

• Today (2025): 5,571,493 people
• By 2030: 6,089,821 · +9.3%
• By 2040: 7,142,806 · +28.2%
• By 2050: 8,185,864 · +46.9%
• By 2075: 10,574,329 · +89.8%
• By 2100: 12,109,958 · +117.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.69)
• Race & ethnicity: Hispanic / Latino 48% Two or more races 22% White 22% Black 16% Asian 11% Native American 2%
• Hispanic origin (detail): Mexican 27% Cuban 2%
• Common ancestry: Lithuanian 1% Romanian 1% Slovak 1%
• Foreign-born: 32% · Canada, Vietnam, Jamaica
• Languages at home: 48% English-only · Spanish 38% Other Indo-European 5% Vietnamese 3%

Political lean MEDSL · Harris

• 2024 margin: Lean D (+5.5) · D 52.0% · R 46.4% · Other 1.6%
• 2008→2024 swing: +3.9pp toward D · 2008: 1.6pp · 2024: 5.5pp
• All cycles: 2024: D+5.5 2020: D+13.3 2016: D+12.4 2012: D+0.1 2008: D+1.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -1.40%
• Current HPI: 251.8474
• Rent YoY: ▼ -2.89%
• Metro: Houston-The Woodlands-Sugar Land, TX
• State GDP YoY: ▲ 3.95%
• F500 in state: 110

Industry mix (Fortune 500 HQ in TX)

Industry	F500 HQs	Revenue
▸Energy	16	$1,198B
▸Technology	5	$198B
▸Engineering / Construction	4	$72B
▸Energy Services	3	$60B
▸Utilities	3	$41B
▸Healthcare	2	$330B

Price history

+217.2% since first listed

11 events — show timeline

• 2026-05-07 Price Changed $230,000 HARMLS
• 2026-04-25 Price Changed $240,000 HARMLS
• 2026-04-10 Price Changed $250,000 HARMLS
• 2026-03-17 Listed $265,000 HARMLS
• 2021-09-16 Sold (Public Records) — Public Records
• 2021-09-08 Sold (MLS) — HARMLS
• 2021-08-08 Pending — HARMLS
• 2021-07-31 Pending — HARMLS
• 2021-07-19 Listed $239,900 HARMLS
• 1996-10-14 Sold (Public Records) — Public Records
• 1995-12-01 Sold (Public Records) $72,500 Public Records

Property tax history

+3.3%/yr

Latest (2025): $5,556 · +3.3% YoY. Source: county tax records.