Mesa appreciation rates and housing market information

Mesa housing market information

With 397,215 people, 175,717 houses or apartments, and a median cost of homes of $220,557, Mesa real estate prices are well above average cost compared to national prices.

single-family detached homes are the single most common housing type in Mesa, accounting for 48.41% of the city's housing units. Other types of housing that are prevalent in Mesa include large apartment complexes or high rise apartments (21.14%), mobile homes or trailers (17.63%), row houses and other attached homes (5.92%), and a few duplexes, homes converted to apartments, or other small apartment buildings (5.72%).

Dwellings in Mesa tend to be quite small (one, two, or no bedrooms) and owner-occupied. In fact, 55.70% of the homes in Mesa have two or fewer bedrooms.

There is a lot of housing in Mesa built from 1970-1994, so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Mesa built from 1995 and later (17.87%). A lesser amount of the housing stock also hails from 1940-1969 (11.97%), and some were built from 1939 and earlier (11.97%).

Vacant housing appears to be an issue in Mesa. Fully 16.49% of the housing stock is classified as vacant. Left unchecked, vacant Mesa homes and apartments can be a drag on the real estate market, holding Mesa real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Mesa home appreciation rates

Real estate appreciation rates in Mesa have tracked to near the national average over the last ten years, with the annual appreciation rate averaging 6.96% during the period.

Over the last year, Mesa appreciation rates have trailed the rest of the nation. In the last twelve months, Mesa's appreciation rate has been -18.38%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Mesa were at -1.57%, which equates to an annual appreciation rate of -6.28%.

Notably, Mesa's appreciation rate in the latest quarter is one of the lowest in America.

Relative to Arizona, our data show that Mesa's latest annual appreciation rate is higher than 5% of the other cities and towns in Arizona.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Mesa differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Mesa - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 1990, to assist you in making the best Mesa real estate investment or home purchase decisions.