Real Estate Investing in Amarillo, Texas (79121)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 79121 (Amarillo, 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: 12.4% of homes vacant — above national norms.
- High price-to-rent: Price-to-rent ratio 27.1 — hard to cash-flow at these prices.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Amarillo, TX (79121)?
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Market Analysis: 79121 Amarillo
Investors eyeing 79121 need to respect the fundamentals at play. Home values of $308K come alongside slower price movement and elevated management overhead.
Turning to rents, the numbers look inviting — $308K purchase price, 0.0% nominal cap — the work to hit that pro forma in 79121 is substantial and deserves full respect.
Within TX, ZIP 79121 trails on several market indicators that neighboring Randall County submarkets outperform. The gap is real and healthy enough to shape underwriting.
Who lives in 79121 is part of why the ZIP is priced as it is. The demographic profile requires hands-on management, tight screening, and local knowledge.
Strategically, 79121 can be a high-return sleeve of a diversified portfolio — but it should not be the whole portfolio, and it should not be someone's first deal.
Here's what matters if you're considering buying a home in Amarillo:
Property Strategy for 79121
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $220,629 | $1,050 | 3.4% | +5.8% | $110,315 |
| 3BR | $261,090 | $1,440 | 4.0% | +5.7% | $87,030 |
| 4BR | $414,616 | $1,670 | 2.9% | +5.7% | $103,654 |
Market Trends
Home Value History (with trend line)
📊 How Does 79121 Compare?
| Metric | 79121 | Amarillo | Amarillo, TX | Texas |
|---|---|---|---|---|
| Home Value | $307,806 | $140,122 | N/A | $297,000 |
| 5-Year CAGR | 4.8% | 5.5% | N/A | 5.4% |
| Avg Rent | $945 | $1,170 | N/A | - |
| Cap Rate | 2.4% | 4.7% | - | - |
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 79121 (Amarillo, TX). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $307,806 |
| Monthly Rent | $945 |
| Price-to-Rent | 27.1:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 3.7% |
| Cap Rate | 2.4% |
| 5-Year IRR | 7.2% |
📈 Home Appreciation
| 1-Year | +7.3% ▲ |
| 3-Year CAGR | +2.7% ▲ |
| 5-Year CAGR | +4.8% ▲ |
| 10-Year CAGR | +4.4% ▲ |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (2.4%). 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 79121
Population: 5,879
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 79121
Schools in This ZIP Code
Nearby Schools (5 more)
Schools in adjacent ZIP codes that may serve this area
HOUSTON MIDDLE
ARDEN ROAD EL
WEST PLAINS J H
AVONDALE EL
CORONADO EL
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
Investor Insight: With 4,162 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
What is the average home sale price in Amarillo, TX?
Amarillo, TX home values average about $308K. That price point suits investors targeting rentals with $945/mo in monthly income.
Is TX a landlord-friendly state?
TX ranks as a landlord-friendly state for landlord-tenant law. Amarillo generally follows the statewide framework, so landlords face reasonable operating rules.
Are renters plentiful in Amarillo, TX?
The tenant pool in Amarillo, TX is solid, supported by local employment and population fundamentals. Rents of $945/mo are well-absorbed by the market.
Can I live-in-and-rent in Amarillo, TX?
Amarillo, TX is a a challenging market for house hackers. FHA or conventional owner-occupant buyers find the $308K price point reasonable to enter.
How quickly do rentals get leased in Amarillo, TX?
Vacancy in Amarillo, TX is elevated, which keeps landlord downtime on reasonable timelines. Most properties lease within the standard window at $945/mo.
You know 79121 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 79121 compares to every other market. Investor ($19/mo) screens every U.S. ZIP by cap rate, the 1% rule, vacancy and landlord climate, and exports your shortlist.
How 79121 ranks in Amarillo, TX
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