Real estate in Bell County has surged by an estimated $2.62 billion this year. According to Billy White, the chief appraiser for the Appraisal District of Bell County, the total market value now stands at approximately $53.69 billion, up from $51.07 billion last year.

New construction played a key role, adding 3,508 homes at an average value of $362,314 each, contributing about $1.27 billion to the total market value. This influx of new homes not only boosts the overall market but also provides homebuyers with a wider selection of modern housing options. Existing home values also went up a bit, with non-rural homes increasing from $260,907 to $266,508 on average. This indicates a healthy appreciation in property values which benefits current homeowners. 

Despite the increase in property values, home prices in Killeen, a city within Bell County, remain significantly lower than both state and national averages. This makes Bell County an attractive destination for homebuyers seeking affordability. The average value of new homes nationwide was $433,500 in April. In comparison, new homes in Bell County average $362,314, which is $71,186 less than the national average, offering substantial savings for buyers.

The gap widens further when considering the price of existing homes. Nationally, the average home price is $495,100 and $348,000 in Texas. Bell County homes are about $228,592 cheaper than the national average and $81,492 less than the Texas average. In Killeen, the average home price is $227,730, which is $267,370 below the national average and $120,270 below the Texas average. This significant price disparity ensures that Bell County remains a cost-effective option for prospective homeowners.

Bell County, especially Killeen, continues to be one of the more affordable housing markets in the U.S. This affordability, alongside the rising market value driven by new construction, makes it an attractive option for homebuyers and investors. The significant price gaps compared to state and national averages highlight the cost-effective opportunities available in this growing market. As the market continues to develop, homebuyers can take advantage of the relatively low prices and the variety of new and existing homes available.