Crownpoint appreciation rates and housing market information

Crownpoint housing market information

With 2,643 people, 872 houses or apartments, and a median cost of homes of $58,475, house prices in Crownpoint are some of the most affordable in New Mexico as well as the nation.

single-family detached homes are the single most common housing type in Crownpoint, accounting for 50.80% of the town's housing units. Other types of housing that are prevalent in Crownpoint include mobile homes or trailers (23.51%), duplexes, homes converted to apartments, or other small apartment buildings (12.84%), row houses and other attached homes (8.26%), and a few large apartment complexes or high rise apartments (4.59%).

People in Crownpoint primarily live in small (one, two, or no bedroom) single-family detached homes. Crownpoint has a mixture of owner-occupied and renter-occupied housing.

There is a lot of housing in Crownpoint 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 Crownpoint built from 1940-1969 (28.67%). A lesser amount of the housing stock also hails from 1995 and later (7.68%), and some were built from 1939 and earlier (7.68%).

Vacant housing appears to be an issue in Crownpoint. Fully 16.97% of the housing stock is classified as vacant. Left unchecked, vacant Crownpoint homes and apartments can be a drag on the real estate market, holding Crownpoint 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.

Crownpoint home appreciation rates

In the last 10 years, Crownpoint has experienced some of the highest home appreciation rates of any community in the nation. Crownpoint real estate appreciated 206.12% over the last ten years, which is an average annual home appreciation rate of 20.61%, putting Crownpoint in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Crownpoint definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

Appreciation rates are so strong in Crownpoint that despite a nationwide downturn in the housing market, Crownpoint real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Crownpoint appreciation rates continue to be some of the highest in America, at 13.05%, which is higher than appreciation rates in 100% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Crownpoint. Crownpoint appreciation rates in the latest quarter were at 2.84%, which equates to an annual appreciation rate of 11.36%.

Importantly, this makes Crownpoint one of the highest appreciating communities in the nation for the latest quarter, and may signal the town's near-future real estate investment strength.

Relative to New Mexico, our data show that Crownpoint's latest annual appreciation rate is higher than 94% of the other cities and towns in New Mexico.