Payson, AZ
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Payson Neighborhoods Since 2000




Payson, 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

Payson Housing Market Information

With a population of 15,345, 6,625 total housing units (homes and apartments), and a median house value of $249,279, Payson real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Payson, accounting for 73.04% of the town's housing units. Other types of housing that are prevalent in Payson include mobile homes or trailers ( 15.97%), duplexes, homes converted to apartments or other small apartment buildings ( 5.20%), and a few large apartment complexes or high rise apartments ( 4.33%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Payson. Owner-occupied housing accounts for 71.19% of Payson's homes, and 53.19% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Payson 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 Payson built between 2000 and later ( 19.36%). A lesser amount of the housing stock also hails from between 1940-1969 ( 6.33%).

Vacant housing appears to be an issue in Payson. Fully 26.39% of the housing stock is classified as vacant. Left unchecked, vacant Payson homes and apartments can be a drag on the real estate market, holding Payson 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.

Payson Home Appreciation Rates

Homes have actually lost value in Payson over the last then years, as home values have seen a decline of 23.07% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Payson home appreciation rates at 1.55%, which equates to an annual appreciation rate of 6.33%.

Appreciation rates are so strong in Payson that despite a nationwide downturn in the housing market, Payson real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Payson appreciation rates continue to be some of the highest in America, at 6.20%, which is higher than appreciation rates in 75.83% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Payson. Payson appreciation rates in the latest quarter were at 1.55%, which equates to an annual appreciation rate of 6.33%.

Relative to Arizona, our data show that Payson's latest annual appreciation rate is lower 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 town. Individual neighborhoods within Payson differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Payson - 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 Payson real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$249,279

Payson, AZ HOME PRICES

Value Range
> $1,225,000 0.2
$919,001 - $1,225,000 0.2
$613,001 - $919,000 4.6
$490,001 - $613,000 3.6
$368,001 - $490,000 10.4
$245,001 - $368,000 25.6
$123,001 - $245,000 33.8
$61,001 - $123,000 7.7
$0 - $61,000 13.9

Very High for AZ
High for Nation

Value Relative to Nation Value Relative to State
22.6385796320169 16.2162162162162

Number Of Homes And Apartments:
6,625

Payson 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
35.45% 1.77% 3 4
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,220 / per month

Homeownership Rate

Homeownership
Owners 71.19
Renters 28.81
Vacant 26.39

Housing Market Details

 

Age of Homes

AGE OF Payson HOMES
2000 or Newer 19.4
1970 - 1999 73.8
1940 - 1969 6.3
1939 or Older 0.6

Types of Homes

TYPE OF Payson HOMES
Single-Family 73.0
Townhomes 1.5
Small Apt. Buildings 5.2
Apt. Complexes 4.3
Mobile Homes 16.0
Other 0.0

Home Size

SIZE OF Payson HOMES
No Bedroom 1.28
1 Bedroom 5.09
2 Bedrooms 39.36
3 Bedrooms 44.10
4 Bedrooms 9.09
5 or more bedrooms 1.09

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Zip Codes in Payson, AZ