Thinking about moving to El Paso?
You’ll be in good company. Between 2010 and 2016, more than 33,959 people have moved to El Paso, an increase of 5.2%. New residents are attracted to El Paso’s affordable living, its unique culture, and its warm, sunny weather. El Paso is an underrated gem.
El Paso Population
El Paso is home to 683,080 El Pasoans. With an area of 255.2 square miles, El Paso has a population density of 2,677 persons per square mile, which makes it less dense than many other cities of comparable size.
The El Paso, TX Metropolitan Statistical Area boasts a population of 841,971 people, of which El Paso proper’s population makes up 81%.
El Paso Housing Market
Affordable housing is one of best things El Paso has going for it. The median home value in El Paso is $113,700, -43% below the US median value, according to Zillow. The median price per square foot in El Paso is $79. Over the past 5 years, home values in El Paso have decreased by 0%.
Renters in El Paso will also have an easy time finding affordable housing. The median rent in El Paso is $989 per month, which is 31% lower than the US median. Over the past year, rental rates in El Paso have decreased by 2.0%.
El Paso Local Economy
El Paso’s economy is growing strong. The El Paso metro area’s GDP grew by 5% between 2010 and 2015, from $25 billion in 2010 to $26 billion in 2015, a total increase of $1 billion. The metro area has a per capita GDP of $30,755. According to the US Census Bureau, the median household income in El Paso, TX is $41,578, 43% lower than the national median. El Paso’s unemployment rate is 5.1%.