Benson, AZ
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Benson Neighborhoods Since 2000




Benson, 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

Benson Housing Market Information

With 4,888 people, 2,411 houses or apartments, and a median cost of homes of $104,136, house prices in Benson are solidly below the national average.

Single-family detached homes are the single most common housing type in Benson, accounting for 46.79% of the city's housing units. Other types of housing that are prevalent in Benson include mobile homes or trailers ( 28.54%), large apartment complexes or high rise apartments ( 13.37%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 2.14%).

Dwellings in Benson tend to be quite small (one, two, or no bedrooms) and owner occupied. In fact, 56.45% of the homes in Benson have two or fewer bedrooms.

There is a lot of housing in Benson built from 1970 to 1999 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 Benson built between 2000 and later ( 31.12%). A lesser amount of the housing stock also hails from between 1940-1969 ( 21.76%). There's also some housing in Benson built before 1939 ( 1.67%).

Vacant housing appears to be an issue in Benson. Fully 19.42% of the housing stock is classified as vacant. Left unchecked, vacant Benson homes and apartments can be a drag on the real estate market, holding Benson 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.

Benson Home Appreciation Rates

Homes have actually lost value in Benson over the last then years, as home values have seen a decline of 29.59% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Benson home appreciation rates at 3.79%, which equates to an annual appreciation rate of 16.04%.

Appreciation rates are so strong in Benson that despite a nationwide downturn in the housing market, Benson real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Benson appreciation rates continue to be some of the highest in America, at 6.04%, which is higher than appreciation rates in 74.45% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Benson. Benson appreciation rates in the latest quarter were at 3.79%, which equates to an annual appreciation rate of 16.04%.

Importantly, this makes Benson 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 Benson's latest annual appreciation rate is lower than 70% of the other cities and towns in Arizona.

Average Home Values

 

Median Home Value:
$104,136

Benson, AZ HOME PRICES

Value Range
> $1,017,000 0.0
$763,001 - $1,017,000 0.0
$508,001 - $763,000 2.2
$407,001 - $508,000 0.3
$305,001 - $407,000 3.5
$203,001 - $305,000 4.2
$102,001 - $203,000 36.6
$51,001 - $102,000 25.5
$0 - $51,000 27.7

Low for AZ
Low for Nation

Value Relative to Nation Value Relative to State
74.909176139693 70.9459459459459

Number Of Homes And Apartments:
2,411

Benson 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
19.43% 1.03% 1 2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$869 / per month

Homeownership Rate

Homeownership
Owners 69.22
Renters 30.78
Vacant 19.42

Housing Market Details

 

Age of Homes

AGE OF Benson HOMES
2000 or Newer 31.1
1970 - 1999 45.5
1940 - 1969 21.8
1939 or Older 1.7

Types of Homes

TYPE OF Benson HOMES
Single-Family 46.8
Townhomes 1.5
Small Apt. Buildings 2.1
Apt. Complexes 13.4
Mobile Homes 28.5
Other 7.7

Home Size

SIZE OF Benson HOMES
No Bedroom 1.20
1 Bedroom 19.45
2 Bedrooms 35.80
3 Bedrooms 39.54
4 Bedrooms 3.61
5 or more bedrooms 0.40

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Zip Codes in Benson, AZ