Las Cruces appreciation rates and housing market information

Las Cruces housing market information

With 74,483 people, 31,652 houses or apartments, and a median cost of homes of $167,562, Las Cruces real estate prices are well above average cost compared to national prices.

single-family detached homes are the single most common housing type in Las Cruces, accounting for 53.31% of the city's housing units. Other types of housing that are prevalent in Las Cruces include large apartment complexes or high rise apartments (16.49%), mobile homes or trailers (12.42%), duplexes, homes converted to apartments, or other small apartment buildings (11.42%), and a few row houses and other attached homes (5.99%).

The most prevalent building size and type in Las Cruces are three and four bedroom single-family detached homes. The city has a mixture of owners and renters, with 53.86% owning, and 38.20% renting.

There is a lot of housing in Las Cruces 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 Las Cruces built from 1940-1969 (29.13%). A lesser amount of the housing stock also hails from 1995 and later (13.37%), and some were built from 1939 and earlier (13.37%).

Las Cruces home appreciation rates

Real estate appreciation rates in Las Cruces have tracked to near the national average over the last ten years, with the annual appreciation rate averaging 7.79% during the period.

Over the last year, Las Cruces appreciation rates have trailed the rest of the nation. In the last twelve months, Las Cruces's appreciation rate has been -1.29%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Las Cruces were at -0.06%, which equates to an annual appreciation rate of -0.24%.

Relative to New Mexico, our data show that Las Cruces's latest annual appreciation rate is higher than 44% of the other cities and towns in New Mexico.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Las Cruces differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Las Cruces - 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 Las Cruces real estate investment or home purchase decisions.