Craigmont appreciation rates and housing market information

Craigmont housing market information

With 849 people, 1,022 houses or apartments, and a median cost of homes of $153,600, Craigmont 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 Craigmont, accounting for 84.83% of the town's housing units. Other types of housing that are prevalent in Craigmont include mobile homes or trailers (11.55%), duplexes, homes converted to apartments, or other small apartment buildings (2.35%), and a few large apartment complexes or high rise apartments (0.59%).

Owner-occupied, three and four bedroom single-family detached homes are the most prevalent type of housing you will see in Craigmont. Owner-occupied housing accounts for 69.37% of Craigmont's homes, and 60.08% have either three or four bedrooms, which is average sized relative to America.

The housing in Craigmont was primarily built before 1939 (35.12%), making the housing stock in Craigmont some of the older overall in America, although there is a range of ages of homes in Craigmont. The next most important Craigmont housing age is 1940-1969 (31.41%), followed by 1970-1994 (25.15%). There's also some housing in Craigmont built between 1995 and later (8.32%).

Vacant housing appears to be an issue in Craigmont. Fully 15.07% of the housing stock is classified as vacant. Left unchecked, vacant Craigmont homes and apartments can be a drag on the real estate market, holding Craigmont 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.

Craigmont home appreciation rates

Appreciation rates for homes in Craigmont have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 120.24%, which ranks in the top 20% nationwide. This equates to an annual average Craigmont house appreciation rate of 12.02%.

Appreciation rates are so strong in Craigmont that despite a nationwide downturn in the housing market, Craigmont real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Craigmont appreciation rates continue to be some of the highest in America, at 6.26%, which is higher than appreciation rates in 87% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Craigmont. Craigmont appreciation rates in the latest quarter were at 0.27%, which equates to an annual appreciation rate of 1.08%.

Relative to Idaho, our data show that Craigmont's latest annual appreciation rate is higher than 72% of the other cities and towns in Idaho.