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Why Live in Parklea Addition

Parklea Addition is a small neighborhood in central Midland, offering a lower cost of housing than nearby communities. Homes are often on the smaller side and include ranch-style houses and cottages on tight city lots. Some are in need of repairs, while others have been completely renovated. The location near Andrews Highway and Wall Street makes it easy to run errands or dine out. Nearby restaurants include Shipley Do-Nuts, Ocho 80 and Triple Threat Sports Bar. Groceries and household items can be found at stores like CVS and United Supermarkets. Students might attend schools in the Midland Independent School District, which offers magnet programs and schools of choice. Commuting is easy from Parklea Addition, with downtown Midland just 2 miles away. Many residents work in the oil fields surrounding the city, which are easily reachable thanks to the neighborhood's central location. Buyers should be aware of Midland's water usage restrictions due to the ongoing drought. Watering outdoors is limited to certain days based on your address, and violations are punishable by fine.

Parklea Addition Home Prices vs. Nearby Midland, TX Neighborhoods

Parklea Addition Kelview Heights Southern Crestview
Median Home Price
$190,000
$204,900
$239,499
$209,999
Median Sale Price
$195,000
+56% YoY
$260,000
+21% YoY
$285,000
+90% YoY
$205,000
-13% YoY
Median Single Family Price
$195,000
$197,500
$170,000
$200,000
Total Active Listings
0
2
1
2
Market Conditions
0 Months of Supply
Seller's Market
24 Months of Supply
Buyer's Market
12 Months of Supply
Buyer's Market
3 Months of Supply
Seller's Market

Frequently Asked Questions

Is Parklea Addition a good place to live?
Parklea Addition is a good place to live. Parklea Addition is considered somewhat walkable and bikeable. Parklea Addition is a neighborhood with a crime score of 4, on par with the average neighborhood in the U.S. It is somewhat dense in population with 9.0 people per acre and a median age of 34. The average household income is $51,293 which is below the national average. College graduates make up 12.3% of residents. A majority of residents in Parklea Addition are home owners, with 29% of residents renting and 71% of residents owning their home. A local real estate agent serving Parklea Addition can help you decide if this neighborhood is the right one for you. Learn more on our Parklea Addition neighborhood guide.
Is Parklea Addition, TX a safe neighborhood?
Parklea Addition, TX is a safe neighborhood and is on par with the average neighborhood in the United States. It received a crime score of 4 out of 10.
How much do you need to make to afford a house in Parklea Addition?
The median home price in Parklea Addition is $190,000. If you put a 20% down payment of $38,000 and had a 30-year fixed mortgage with an interest rate of 6.58%, your estimated principal and interest payment would be $970 a month plus property taxes, HOA fees, home insurance, PMI, and utilities. Using the 28% rule, you would need to make at least $42K a year to afford the median home price in Parklea Addition. Learn how much home you can afford with our Home Affordability Calculator. The average household income in Parklea Addition is $51K.
What are the best public schools in Parklea Addition?
The best public schools that serve Parklea Addition are:
What are the best private schools in Parklea Addition?
The best private schools that serve Parklea Addition are:
What are the most popular zip codes in Parklea Addition, Midland, TX?
The most popular zip codes in Parklea Addition, Midland, TX include 79701, 79703, 79705, 79706 and 79707.
What are the most popular neighborhoods near Parklea Addition, Midland, TX?
The most popular neighborhoods near Parklea Addition, Midland, TX are Dellwood, Permian Estates, Wedgewood Park, Western Hills and Fannin Terrace.
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