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 484,587 people, 172,705 houses or apartments, and a median cost of homes of $223,979, 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 53.58% of the city's housing units. Other types of housing that are prevalent in Mesa include large apartment complexes or high rise apartments ( 20.32%), mobile homes or trailers ( 13.39%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 6.67%).
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 ( 18.04%). A lesser amount of the housing stock also hails from between 1940-1969 ( 10.31%).
Vacant housing appears to be an issue in Mesa. Fully 15.68% 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'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 -0.38%, which is lower than 70% 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 9.45%, which is higher than appreciation rates in 88.16% 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 0.62%, which equates to an annual appreciation rate of 2.50%.
Relative to Arizona, our data show that Mesa's latest annual appreciation rate is higher than 70% 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.
|$1,010,001 - $1,347,000||0.5|
|$673,001 - $1,010,000||2.1|
|$539,001 - $673,000||2.7|
|$404,001 - $539,000||7.3|
|$269,001 - $404,000||22.2|
|$134,001 - $269,000||38.4|
|$67,001 - $134,000||14.6|
|$0 - $67,000||11.7|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
2017 Q3 - 2017 Q4
Last 12 Months:
2016 Q4 - 2017 Q4
Last 2 Years:
2015 Q4 - 2017 Q4
Last 5 Years:
2012 Q4 - 2017 Q4
Last 10 Years:
2007 Q4 - 2017 Q4
2000 Q1 - 2017 Q4
|* 10 is highest|
|AGE OF Mesa HOMES|
|2000 or Newer||18.0|
|1970 - 1999||71.1|
|1940 - 1969||10.3|
|1939 or Older||0.6|
|TYPE OF Mesa HOMES|
|Small Apt. Buildings||6.7|
|SIZE OF Mesa HOMES|
|5 or more bedrooms||4.19|