Goodyear, AZ
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Goodyear Neighborhoods Since 2000




Goodyear, 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

Goodyear Housing Market Information

With 79,003 people, 23,882 houses or apartments, and a median cost of homes of $255,435, Goodyear real estate is some of the most expensive in Arizona, although Goodyear home values aren't among America's most expensive.

Single-family detached homes are the single most common housing type in Goodyear, accounting for 89.92% of the city's housing units. Other types of housing that are prevalent in Goodyear include large apartment complexes or high rise apartments ( 7.28%), duplexes, homes converted to apartments or other small apartment buildings ( 1.05%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Goodyear. Owner-occupied housing accounts for 66.12% of Goodyear's homes, and 68.90% have either three or four bedrooms, which is average sized relative to America.

Goodyear homes and real estate are some of the newest in America. 74.49% of Goodyear'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 Goodyear real estate market has to offer. Quite a bit of the housing here was also built between 1970-1999 ( 22.74%), and between 1940-1969 ( 2.61%).

Vacant housing appears to be an issue in Goodyear. Fully 13.38% of the housing stock is classified as vacant. Left unchecked, vacant Goodyear homes and apartments can be a drag on the real estate market, holding Goodyear 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.

Goodyear Home Appreciation Rates

Homes have actually lost value in Goodyear over the last then years, as home values have seen a decline of 27.07% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Goodyear home appreciation rates at 2.04%, which equates to an annual appreciation rate of 8.40%.

Appreciation rates are so strong in Goodyear that despite a nationwide downturn in the housing market, Goodyear real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Goodyear appreciation rates continue to be some of the highest in America, at 5.58%, which is higher than appreciation rates in 70.15% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Goodyear. Goodyear appreciation rates in the latest quarter were at 2.04%, which equates to an annual appreciation rate of 8.40%.

Importantly, this makes Goodyear 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 Goodyear's latest annual appreciation rate is lower than 80% 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 Goodyear differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Goodyear - 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 Goodyear real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$255,435

Goodyear, AZ HOME PRICES

Value Range
> $1,351,000 0.2
$1,013,001 - $1,351,000 0.2
$676,001 - $1,013,000 2.3
$540,001 - $676,000 4.3
$405,001 - $540,000 15.4
$270,001 - $405,000 28.4
$135,001 - $270,000 37.7
$68,001 - $135,000 9.1
$0 - $68,000 2.4

Very High for AZ
High for Nation

Value Relative to Nation Value Relative to State
21.7567092464549 14.1891891891892

Number Of Homes And Apartments:
23,882

Goodyear 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
39.34% 1.94% 4 5
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,481 / per month

Homeownership Rate

Homeownership
Owners 66.12
Renters 33.88
Vacant 13.38

Housing Market Details

 

Age of Homes

AGE OF Goodyear HOMES
2000 or Newer 74.5
1970 - 1999 22.7
1940 - 1969 2.6
1939 or Older 0.2

Types of Homes

TYPE OF Goodyear HOMES
Single-Family 89.9
Townhomes 0.8
Small Apt. Buildings 1.1
Apt. Complexes 7.3
Mobile Homes 0.9
Other 0.0

Home Size

SIZE OF Goodyear HOMES
No Bedroom 0.49
1 Bedroom 4.19
2 Bedrooms 19.72
3 Bedrooms 40.48
4 Bedrooms 28.42
5 or more bedrooms 6.71