Prescott, 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 Q3 2020. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2018 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Prescott Housing Market Information

With 44,299 people, 18,759 houses or apartments, and a median cost of homes of $412,146, Prescott house prices are not only among the most expensive in Arizona, Prescott real estate also is some of the most expensive in all of America.

Single-family detached homes are the single most common housing type in Prescott, accounting for 66.54% of the city's housing units. Other types of housing that are prevalent in Prescott include large apartment complexes or high rise apartments ( 11.22%), duplexes, homes converted to apartments or other small apartment buildings ( 9.24%), and a few mobile homes or trailers ( 7.42%).

The most prevalent building size and type in Prescott are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 62.26% owning and 37.74% renting.

There is a lot of housing in Prescott 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 Prescott built between 2000 and later ( 29.95%). A lesser amount of the housing stock also hails from between 1940-1969 ( 11.94%). There's also some housing in Prescott built before 1939 ( 4.69%).

Vacant housing appears to be an issue in Prescott. Fully 13.72% of the housing stock is classified as vacant. Left unchecked, vacant Prescott homes and apartments can be a drag on the real estate market, holding Prescott 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.

Prescott Home Appreciation Rates

In the last 10 years, Prescott has experienced some of the highest home appreciation rates of any community in the nation. Prescott real estate appreciated 69.29% over the last ten years, which is an average annual home appreciation rate of 5.41%, putting Prescott in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Prescott definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

NeighborhoodScout's data show that during the latest twelve months, Prescott's appreciation rate, at 4.66%, has been at or slightly above the national average. In the latest quarter, Prescott's appreciation rate has been 2.07%, which annualizes to a rate of 8.55%.

Importantly, this makes Prescott 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 Prescott's latest annual appreciation rate is lower than 80% 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 Prescott differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Prescott - 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 Prescott real estate investment or home purchase decisions.

Average Home Values

 
info

Median Home Value:
$412,146

Prescott, AZ HOME PRICES

> $1,309,000
1.1%
1.1%
$982,001 - $1,309,000
3.2%
3.2%
$654,001 - $982,000
12.7%
12.7%
$523,001 - $654,000
10.1%
10.1%
$392,001 - $523,000
22.2%
22.2%
$262,001 - $392,000
22.2%
22.2%
$131,001 - $262,000
18.0%
18.0%
$65,001 - $131,000
3.1%
3.1%
$0 - $65,000
7.5%
7.5%
0.0% 100.0%
% OF HOMES
Value Relative To State

Very High for Nation

Very High for AZ

Value Relative To Nation

Number Of Homes And Apartments:
18,759

Prescott Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
AZ*
Compared To
America*
Latest Quarter:
2020 Q2 - 2020 Q3
Last 12 Months:
2019 Q3 - 2020 Q3
Last 2 Years:
2018 Q3 - 2020 Q3
Last 5 Years:
2015 Q3 - 2020 Q3
Last 10 Years:
2010 Q3 - 2020 Q3
Since 2000:
2000 Q1 - 2020 Q3
108.19% 3.60%
6
9
* 10 is highest

Rent & Ownership

 
info

Average Market Rent:
$1,530 / per month

Homeownership Rate

Owners
62.3%
62.3%
Renters
37.7%
37.7%
Vacant
13.7%
13.7%
0.0% 100.0%
% OF HOMES

Housing Market Details

 
info

Age of Homes

2000 or Newer
29.9%
29.9%
1970 - 1999
53.4%
53.4%
1940 - 1969
11.9%
11.9%
1939 or Older
4.7%
4.7%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
66.5%
66.5%
Townhomes
5.2%
5.2%
Small Apt. Buildings
9.2%
9.2%
Apt. Complexes
11.2%
11.2%
Mobile Homes
7.4%
7.4%
Other
0.4%
0.4%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
2.2%
2.2%
1 Bedroom
8.6%
8.6%
2 Bedrooms
30.9%
30.9%
3 Bedrooms
43.1%
43.1%
4 Bedrooms
12.7%
12.7%
5 or more bedrooms
2.5%
2.5%
0.0% 100.0%
% OF HOMES