Eloy, AZ
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Eloy, AZ Real Estate Data


Eloy Housing Market Information

With a population of 17,059, 3,280 total housing units (homes and apartments), and a median house value of $123,280, house prices in Eloy are solidly below the national average.

Single-family detached homes are the single most common housing type in Eloy, accounting for 60.86% of the city's housing units. Other types of housing that are prevalent in Eloy include mobile homes or trailers ( 18.01%), duplexes, homes converted to apartments or other small apartment buildings ( 11.49%), and a few large apartment complexes or high rise apartments ( 8.00%).

The most prevalent building size and type in Eloy are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 37.14% owning and 62.86% renting.

There is a lot of housing in Eloy 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 Eloy built between 2000 and later ( 32.79%). A lesser amount of the housing stock also hails from between 1940-1969 ( 26.24%). There's also some housing in Eloy built before 1939 ( 4.01%).

Vacant housing appears to be an issue in Eloy. Fully 17.71% of the housing stock is classified as vacant. Left unchecked, vacant Eloy homes and apartments can be a drag on the real estate market, holding Eloy 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.

Eloy Home Appreciation Rates

Eloy's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Eloy during the period has been just -0.82%, which is lower than 70% of US communities.

Appreciation rates are so strong in Eloy that despite a nationwide downturn in the housing market, Eloy real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Eloy appreciation rates continue to be some of the highest in America, at 9.89%, which is higher than appreciation rates in 97.63% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Eloy. Eloy appreciation rates in the latest quarter were at 2.46%, which equates to an annual appreciation rate of 10.22%.

Relative to Arizona, our data show that Eloy's latest annual appreciation rate is higher than 90% of the other cities and towns in Arizona.

Average Home Values

 

Median Home Value:
$123,280

Eloy, AZ HOME PRICES

Value Range
> $1,638,000 0.0
$1,228,001 - $1,638,000 0.0
$819,001 - $1,228,000 0.3
$655,001 - $819,000 1.2
$491,001 - $655,000 2.1
$328,001 - $491,000 7.7
$164,001 - $328,000 18.4
$82,001 - $164,000 41.7
$0 - $82,000 28.6

Low for AZ
Low for Nation

Value Relative to Nation Value Relative to State
64.4316917491363 65.1006711409396

Number Of Homes And Apartments:
3,280

Rent & Ownership

 

Average Market Rent:
$907 / per month

Homeownership Rate

Homeownership
Owners 37.14
Renters 62.86
Vacant 17.71

Housing Market Details

 

Age of Homes

AGE OF Eloy HOMES
2000 or Newer 32.8
1970 - 1999 37.0
1940 - 1969 26.2
1939 or Older 4.0

Types of Homes

TYPE OF Eloy HOMES
Single-Family 60.9
Townhomes 1.6
Small Apt. Buildings 11.5
Apt. Complexes 8.0
Mobile Homes 18.0
Other 0.0

Home Size

SIZE OF Eloy HOMES
No Bedroom 1.68
1 Bedroom 8.55
2 Bedrooms 35.07
3 Bedrooms 44.03
4 Bedrooms 10.06
5 or more bedrooms 0.60

Eloy Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
AZ*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
89.07% 3.82% 9 10
* 10 is highest

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Zip Codes in Eloy, AZ