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 about Scout's Real Estate Data
With 1,558 people, 516 houses or apartments, and a median cost of homes of $165,396, house prices in Mayer are solidly below the national average.
Single-family detached homes are the single most common housing type in Mayer, accounting for 53.24% of the town's housing units. Other types of housing that are prevalent in Mayer include mobile homes or trailers ( 46.76%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Mayer. Owner-occupied housing accounts for 78.29% of Mayer's homes, and 58.31% have either three or four bedrooms, which is average sized relative to America.
There is a lot of housing in Mayer 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 Mayer built between 2000 and later ( 34.79%). A lesser amount of the housing stock also hails from between 1940-1969 ( 20.14%).
Vacant housing appears to be an issue in Mayer. Fully 27.32% of the housing stock is classified as vacant. Left unchecked, vacant Mayer homes and apartments can be a drag on the real estate market, holding Mayer 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.
In the last 10 years, Mayer has experienced some of the highest home appreciation rates of any community in the nation. Mayer real estate appreciated 129.76% over the last ten years, which is an average annual home appreciation rate of 8.67%, putting Mayer in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Mayer definitely has a track record of being one of the best long term real estate investments in America through the last ten years.
Over the last year, Mayer appreciation rates have trailed the rest of the nation. In the last twelve months, Mayer's appreciation rate has been -8.78%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Mayer were at 1.77%, which equates to an annual appreciation rate of 7.28%.
Relative to Arizona, our data show that Mayer's latest annual appreciation rate is lower than 80% of the other cities and towns in Arizona.
$1,805 / per month