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Gaut Appraisal Blog

Petersburg TX Real Estate Appraiser Market Focus
June 24th, 2013 6:24 PM

The small town of Petersburg, TX is located in Hale County, just 26.6 miles from Lubbock. The community was founded as a post office in 1891 and the population remained under 100 until 1928 when the Fort Worth and Denver Railway was built through the town. Today it has a population of 1,206 living on approximately 0.8 square mile.

Homes in Petersburg range from townhouses in the $203,000 rang to detached houses valued at approximately $53,000. The average price of a home in the city is $54,414, well below the Texas average of $125,800.

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While the cost of living index in the United States averages 100, In Petersburg the March 2012 cost of living index was well below that, showing 79.3.

Of the 501 homes in this rural community, 332 are occupied by the owners and 96 have renters living in them.

Surrounding towns, all within 5 miles of Petersburg are Lorenzo, Abernathy, new Deal, Idalou, Ralls, Floydada, Lockney, and Hale Center.

The unemployment rate in Petersburg is lower than the state average. In this rural city, unemployment in August 2012 was 6.8% compared to 7.0% across Texas. The most common industries are agriculture, forestry, fishing, and hunting, but 25% of the residents work in manufacturing and construction employs 11%.

Residents enjoy the quiet life of a rural community, but medical and educational facilities are nearby. Covenant Hospital is located approximately 20 miles away in Plainview. Lockney, TX, also 20 miles away is home to the W. J. Mangold Memorial Hospital. The Trustpoint Hospital is approximately 23 miles away in Lubbock.

Petersburg High School is a public school with 153 students attending grades 7 through 12. 161 Students attend Petersbuurg Elementary School. The community is home to the Petersburg Public Library.

While the University of Texas of the Permian Basin is 144 miles away in Odessa, TX, there are several colleges with over 2,000 students nearby. Texas Tech University and Texas Tech University Health Sciences Center are located nearby in Lubbock. Approximately 49 miles, in Levelland, is South Plains College. West Texas A& M University, with an enrollment of 5,251 is located in Canyon, about 79 miles from Petersburg. The distance to Amarillo College is 93 miles.

Raising a family in Petersburg has many advantages. The air Quality Index level is 24.8. Compared to a national average of 32.0 it’s easy to see the health benefits of living in a rural area with less pollution.

Amarillo TX Appraisal CompanyJohn B. Dudley, SRA is an SRA-designated commercial and residential appraiser, with 35 years experience. serving the Texas pandhandle, including Amarillo TX Canyon TX Hereford TX Pampa TX Dumas TX Panhandle TX Borger TX Claude TX Dalhart TX Friona TX.
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Posted by John Dudley on June 24th, 2013 6:24 PMPost a Comment

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