Real Estate Investing in Canyon, Texas (79015)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 79015 (Canyon, TX)? Our answer, based on the numbers below.
Mixed signals — some positives, some negatives. Worth considering but not a slam-dunk.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- High vacancy: 12.6% of homes vacant — above national norms.
What’s happening in Canyon, TX (79015)?
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Market Analysis: 79015 Canyon
This part of Randall County is not an easy win. The 79015 ZIP posts softness in key indicators, and the playbook that works in cleaner markets often stalls here.
The investment case in 79015 is healthy only for operators who understand what they are buying. A $303K median suggests accessibility, but management intensity, vacancy drift, and capex surprises are real.
Within TX, ZIP 79015 trails on several market indicators that neighboring Randall County submarkets outperform. The gap is real and sturdy enough to shape underwriting.
Employment concentration in 79015 leans toward sectors with higher volatility. The demographic consequence is income fluctuation that investors need to factor into their pro forma.
New investors are better served looking at Canyon's stable or hybrid ZIPs before stepping into 79015. The learning curve here is expensive when the lesson is wrong.
Here's what matters if you're considering buying a home in Canyon:
Property Strategy for 79015
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $127,399 | $860 | 4.9% | +4.3% | $127,399 |
| 2BR | $145,707 | $1,050 | 5.2% | +7.0% | $72,853 |
| 3BR | $270,430 | $1,440 | 3.8% | +6.8% | $90,143 |
| 4BR | $411,845 | $1,670 | 2.9% | +6.4% | $102,961 |
| 5BR | $543,419 | — | — | +6.8% | $108,684 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 79015 Compare?
| Metric | 79015 | Canyon | Amarillo, TX | Texas |
|---|---|---|---|---|
| Home Value | $302,530 | $151,265 | N/A | $297,000 |
| 5-Year CAGR | 4.8% | 4.8% | N/A | 5.4% |
| Avg Rent | $1,327 | $1,327 | N/A | - |
| Cap Rate | 3.4% | 3.4% | - | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 79015 (Canyon, TX). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $302,530 |
| Monthly Rent | $1,327 |
| Price-to-Rent | 19.0:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.3% |
| Cap Rate | 3.4% |
| 5-Year IRR | 8.3% |
📈 Home Appreciation
| 1-Year | +5.1% ▲ |
| 3-Year CAGR | +2.9% ▲ |
| 5-Year CAGR | +4.8% ▲ |
| 10-Year CAGR | +5.0% ▲ |
🏠 Rent Trends
| 1-Year | +3.7% ▲ |
| 3-Year CAGR | +4.3% ▲ |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (3.4%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 79015
Population: 23,217
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 79015
Schools in This ZIP Code
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Frequently Asked Questions
What are home prices like in Canyon, TX?
Median home price in Canyon, TX is near $303K, with a 5-year CAGR of 0.0%. Prices have been even-keeled and supportive of buy-and-hold strategies.
Is the tenant base reliable in Canyon, TX?
The renter base in Canyon, TX is reasonable for the $1,327/mo price point. Screening well and pricing to market typically yields even-keeled tenants.
What is the typical rental rate in Canyon, TX?
The typical rental in Canyon, TX commands about $1,327/mo monthly. That rent profile measured cash flow against the $303K purchase basis.
Does a duplex house hack pencil in Canyon, TX?
The a challenging house-hack environment in Canyon, TX reflects the rent-to-price spread. Expect meaningful PITI offset at market rents.
What strategy should investors use in Canyon, TX?
Investors usually favor careful cash-flow rentals with hands-on management in Canyon, TX. With home values at $303K and rents near $1,327/mo, other strategies can work but produce reliable rather than outsized returns.
You know 79015 now. You don’t know where it ranks.
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How 79015 ranks in Amarillo, TX
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