Avondale, AZ
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Avondale Neighborhoods Since 2000




Avondale, AZ Real Estate Data

Source & Methodology

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.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Avondale Housing Market Information

With a population of 80,684, 23,516 total housing units (homes and apartments), and a median house value of $214,731, Avondale real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Avondale, accounting for 76.72% of the city's housing units. Other types of housing that are prevalent in Avondale include large apartment complexes or high rise apartments ( 15.38%), mobile homes or trailers ( 3.73%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 3.10%).

The most prevalent building size and type in Avondale are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 53.78% owning and 46.22% renting.

Avondale homes and real estate are some of the newest in America. 55.65% of Avondale'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 Avondale real estate market has to offer. Quite a bit of the housing here was also built between 1970-1999 ( 37.65%), and between 1940-1969 ( 6.27%).

Vacant housing appears to be an issue in Avondale. Fully 10.88% of the housing stock is classified as vacant. Left unchecked, vacant Avondale homes and apartments can be a drag on the real estate market, holding Avondale 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.

Avondale Home Appreciation Rates

Homes have actually lost value in Avondale over the last then years, as home values have seen a decline of 24.89% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Avondale home appreciation rates at 2.04%, which equates to an annual appreciation rate of 8.40%.

Appreciation rates are so strong in Avondale that despite a nationwide downturn in the housing market, Avondale real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Avondale appreciation rates continue to be some of the highest in America, at 17.23%, which is higher than appreciation rates in 99.67% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Avondale. Avondale appreciation rates in the latest quarter were at 2.04%, which equates to an annual appreciation rate of 8.40%.

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

Relative to Arizona, our data show that Avondale's latest annual appreciation rate is higher than 90% 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 Avondale differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Avondale - 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 2000, to assist you in making the best Avondale real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$214,731

Avondale, AZ HOME PRICES

Value Range
> $1,502,000 0.1
$1,126,001 - $1,502,000 0.1
$751,001 - $1,126,000 0.0
$600,001 - $751,000 0.1
$450,001 - $600,000 2.3
$300,001 - $450,000 15.5
$150,001 - $300,000 52.1
$75,001 - $150,000 20.2
$0 - $75,000 9.6

High for AZ
High for Nation

Value Relative to Nation Value Relative to State
28.7823743114965 23.6486486486486

Number Of Homes And Apartments:
23,516

Avondale Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
AZ*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
52.30% 2.47% 5 6
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,386 / per month

Homeownership Rate

Homeownership
Owners 53.78
Renters 46.22
Vacant 10.88

Housing Market Details

 

Age of Homes

AGE OF Avondale HOMES
2000 or Newer 55.6
1970 - 1999 37.6
1940 - 1969 6.3
1939 or Older 0.4

Types of Homes

TYPE OF Avondale HOMES
Single-Family 76.7
Townhomes 1.0
Small Apt. Buildings 3.1
Apt. Complexes 15.4
Mobile Homes 3.7
Other 0.1

Home Size

SIZE OF Avondale HOMES
No Bedroom 1.65
1 Bedroom 8.25
2 Bedrooms 14.00
3 Bedrooms 39.52
4 Bedrooms 32.08
5 or more bedrooms 4.51