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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more
With 2,025 people, 620 houses or apartments, and a median cost of homes of $78,035, house prices in Gila Bend are some of the most affordable in Arizona as well as the nation.
Single-family detached homes are the single most common housing type in Gila Bend, accounting for 55.70% of the town's housing units. Other types of housing that are prevalent in Gila Bend include mobile homes or trailers ( 22.41%), duplexes, homes converted to apartments or other small apartment buildings ( 11.01%), and a few large apartment complexes or high rise apartments ( 5.51%).
The most prevalent building size and type in Gila Bend are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 55.81% owning and 44.19% renting.
There is a lot of housing in Gila Bend 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 Gila Bend built between 1940-1969 ( 22.41%). A lesser amount of the housing stock also hails from between 2000 and later ( 14.21%). There's also some housing in Gila Bend built before 1939 ( 1.92%).
Vacant housing appears to be an issue in Gila Bend. Fully 20.61% of the housing stock is classified as vacant. Left unchecked, vacant Gila Bend homes and apartments can be a drag on the real estate market, holding Gila Bend 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.
Homes have actually lost value in Gila Bend over the last then years, as home values have seen a decline of 21.82% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Gila Bend home appreciation rates at 2.04%, which equates to an annual appreciation rate of 8.40%.
Appreciation rates are so strong in Gila Bend that despite a nationwide downturn in the housing market, Gila Bend real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Gila Bend appreciation rates continue to be some of the highest in America, at 8.92%, which is higher than appreciation rates in 90.51% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Gila Bend. Gila Bend appreciation rates in the latest quarter were at 2.04%, which equates to an annual appreciation rate of 8.40%.
Importantly, this makes Gila Bend 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 Arizona, our data show that Gila Bend's latest annual appreciation rate is higher than 60% of the other cities and towns in Arizona.
|$944,001 - $1,258,000||0.0|
|$629,001 - $944,000||0.0|
|$503,001 - $629,000||0.0|
|$377,001 - $503,000||0.9|
|$251,001 - $377,000||8.3|
|$126,001 - $251,000||24.0|
|$63,001 - $126,000||27.5|
|$0 - $63,000||39.4|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
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
2000 Q1 - 2017 Q1
|* 10 is highest|
|AGE OF Gila Bend HOMES|
|2000 or Newer||14.2|
|1970 - 1999||61.5|
|1940 - 1969||22.4|
|1939 or Older||1.9|
|TYPE OF Gila Bend HOMES|
|Small Apt. Buildings||11.0|
|SIZE OF Gila Bend HOMES|
|5 or more bedrooms||1.92|