Gila Bend, AZ
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Gila Bend, AZ Real Estate Data


Gila Bend Housing Market Information

With a population of 2,025, 620 total housing units (homes and apartments), and a median house value of $76,058, 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.

Gila Bend Home Appreciation Rates

Homes have actually lost value in Gila Bend over the last then years, as home values have seen a decline of 23.81% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Gila Bend home appreciation rates at 1.16%, which equates to an annual appreciation rate of 4.70%.

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 6.33%, which is higher than appreciation rates in 75.52% 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 1.16%, which equates to an annual appreciation rate of 4.70%.

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.

Average Home Values

 

Median Home Value:
$76,058

Gila Bend, AZ HOME PRICES

Value Range
> $1,226,000 0.0
$920,001 - $1,226,000 0.0
$613,001 - $920,000 0.0
$491,001 - $613,000 0.0
$368,001 - $491,000 0.9
$245,001 - $368,000 8.3
$123,001 - $245,000 24.0
$61,001 - $123,000 27.5
$0 - $61,000 39.4

Very Low for AZ
Very Low for Nation

Value Relative to Nation Value Relative to State
92.6198288995664 90.5405405405405

Number Of Homes And Apartments:
620

Rent & Ownership

 

Average Market Rent:
$720 / per month

Homeownership Rate

Homeownership
Owners 55.81
Renters 44.19
Vacant 20.61

Housing Market Details

 

Age of Homes

AGE OF Gila Bend HOMES
2000 or Newer 14.2
1970 - 1999 61.5
1940 - 1969 22.4
1939 or Older 1.9

Types of Homes

TYPE OF Gila Bend HOMES
Single-Family 55.7
Townhomes 2.7
Small Apt. Buildings 11.0
Apt. Complexes 5.5
Mobile Homes 22.4
Other 2.7

Home Size

SIZE OF Gila Bend HOMES
No Bedroom 2.82
1 Bedroom 9.35
2 Bedrooms 34.70
3 Bedrooms 41.36
4 Bedrooms 9.86
5 or more bedrooms 1.92

Gila Bend Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
AZ*
Compared To
America*
Latest Quarter:
2016 Q3 - 2016 Q4
Last 12 Months:
2015 Q4 - 2016 Q4
Last 2 Years:
2014 Q4 - 2016 Q4
Last 5 Years:
2011 Q4 - 2016 Q4
Last 10 Years:
2006 Q4 - 2016 Q4
Since 2000:
2000 Q1 - 2016 Q4
19.42% 1.03% 1 2
* 10 is highest

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