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 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.
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.
|$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|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
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
2000 Q1 - 2017 Q1
|* 10 is highest|
|AGE OF Payson HOMES|
|2000 or Newer||19.4|
|1970 - 1999||73.8|
|1940 - 1969||6.3|
|1939 or Older||0.6|
|TYPE OF Payson HOMES|
|Small Apt. Buildings||5.2|
|SIZE OF Payson HOMES|
|5 or more bedrooms||1.09|