Mesa, AZ
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Mesa Neighborhoods Since 2000




Mesa, 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

Mesa Housing Market Information

With 471,825 people, 168,914 houses or apartments, and a median cost of homes of $206,486, Mesa real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Mesa, accounting for 53.22% of the city's housing units. Other types of housing that are prevalent in Mesa include large apartment complexes or high rise apartments ( 20.29%), mobile homes or trailers ( 13.58%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 6.65%).

People in Mesa primarily live in small (one, two or no bedroom) single-family detached homes. Mesa has a mixture of owner-occupied and renter-occupied housing.

There is a lot of housing in Mesa 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 Mesa built between 2000 and later ( 17.99%). A lesser amount of the housing stock also hails from between 1940-1969 ( 10.20%).

Vacant housing appears to be an issue in Mesa. Fully 15.87% of the housing stock is classified as vacant. Left unchecked, vacant Mesa homes and apartments can be a drag on the real estate market, holding Mesa 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.

Mesa Home Appreciation Rates

Mesa's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Mesa during the period has been just -1.77%, which is lower than 80% of US communities.

Appreciation rates are so strong in Mesa that despite a nationwide downturn in the housing market, Mesa real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Mesa appreciation rates continue to be some of the highest in America, at 8.77%, which is higher than appreciation rates in 89.94% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Mesa. Mesa appreciation rates in the latest quarter were at 2.04%, which equates to an annual appreciation rate of 8.40%.

Importantly, this makes Mesa 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 Mesa's latest annual appreciation rate is higher than 60% 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 Mesa differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Mesa - 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 Mesa real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$206,486

Mesa, AZ HOME PRICES

Value Range
> $1,375,000 0.4
$1,031,001 - $1,375,000 0.6
$687,001 - $1,031,000 2.1
$550,001 - $687,000 2.5
$412,001 - $550,000 6.0
$275,001 - $412,000 18.9
$137,001 - $275,000 40.6
$69,001 - $137,000 17.4
$0 - $69,000 11.5

High for AZ
High for Nation

Value Relative to Nation Value Relative to State
30.6515879526544 25.0

Number Of Homes And Apartments:
168,914

Mesa 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
68.88% 3.08% 7 8
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,147 / per month

Homeownership Rate

Homeownership
Owners 59.78
Renters 40.22
Vacant 15.87

Housing Market Details

 

Age of Homes

AGE OF Mesa HOMES
2000 or Newer 18.0
1970 - 1999 71.1
1940 - 1969 10.2
1939 or Older 0.7

Types of Homes

TYPE OF Mesa HOMES
Single-Family 53.2
Townhomes 5.8
Small Apt. Buildings 6.6
Apt. Complexes 20.3
Mobile Homes 13.6
Other 0.5

Home Size

SIZE OF Mesa HOMES
No Bedroom 1.66
1 Bedroom 17.86
2 Bedrooms 30.79
3 Bedrooms 29.76
4 Bedrooms 15.57
5 or more bedrooms 4.35