Analytics built by: Location, Inc.
Raw data sources: American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With a population of 14,514, 4,345 total housing units (homes and apartments), and a median house value of $251,285, Somerton real estate and house prices are near the national average for all cities and towns.
Single-family detached homes are the single most common housing type in Somerton, accounting for 81.16% of the city's housing units. Other types of housing that are prevalent in Somerton include duplexes, homes converted to apartments or other small apartment buildings ( 11.16%), mobile homes or trailers ( 4.66%), and a few large apartment complexes or high rise apartments ( 2.57%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Somerton. Owner-occupied housing accounts for 71.64% of Somerton's homes, and 78.83% have either three or four bedrooms, which is average sized relative to America.
Somerton homes and real estate are some of the newest in America. 54.95% of Somerton's housing was built since 2000, making the city have a very new look and feel. If you like the amenities of newer homes and subdivisions, then you will probably like what the Somerton real estate market has to offer. Quite a bit of the housing here was also built between 1970-1999 ( 35.80%), and between 1940-1969 ( 9.25%).
Appreciation rates for homes in Somerton have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 95.25%, which ranks in the top 40% nationwide. This equates to an annual average Somerton house appreciation rate of 6.92%.
Over the last year, Somerton appreciation rates have trailed the rest of the nation. In the last twelve months, Somerton's appreciation rate has been 2.31%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Somerton were at -0.17%, which equates to an annual appreciation rate of -0.66%.
Relative to Arizona, our data show that Somerton's latest annual appreciation rate is higher than 50% of the other cities and towns in Arizona.
$251,285
for Arizona
for nation
4,345
$1,757 / per month