Pharr, Texas Information
Pharr was a very small city for much of its existence, but started growing quite rapidly at the dawn of the 21st century. The city’s youth means that most of its housing stock is relatively new, with over 50 percent of homes less than 40 years old. The home ownership rate in the city is 61 percent. Most residents live in single-family homes, with only 20 percent of residents living in multi-unit buildings. The median monthly housing cost for renters is $346.
Pharr, Texas Details
The town was founded in 1910 by Henry N. Pharr and John Connally Kelley on land that had previously been owned by the Louisiana-Rio Grande Canal Company. The city was first envisioned as a home for plantation workers, but Kelley’s plans for sugarcane plantations in the area failed soon after the town’s founding. Pharr was a very small city for much of its existence, but started growing quite rapidly at the dawn of the 21st century. The city’s youth means that most of its housing stock is relatively new, with over 50 percent of homes less than 40 years old. The home ownership rate in the city is 61 percent. Most residents live in single-family homes, with only 20 percent of residents living in multi-unit buildings. The median monthly housing cost for renters is $346.
As one would expect because of its proximity to the balmy Gulf of Mexico, the city has a humid sub-tropical climate. Temperatures in the winter are quite mild, with average highs in January in the 60’s. The area is quite hot in the summer, with highs over 100 from June to September.
Unemployment in the city is slightly higher than the national average at 6.9 percent, but this will probably improve, as jobs have increased 1.5 percent over the last 12 months and are forecast to increase 36 percent in the next decade. The average home price is increasing at a rate of .5 percent a year. The population has grown over 45 percent since the year 2000, and population growth is expected to continue.
This South Texas town scores well by many metrics of livability. The McAllen-Edinburg-Mission metro area is one of the most secure large metro areas to live in, and the cost of living is 25 percent less than the national average. The median home price in Pharr is $70,100, and the average worker commute is 19 minutes.
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