Salome, AZ
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Salome, 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

Salome Housing Market Information

With 1,508 people, 545 houses or apartments, and a median cost of homes of $99,384, house prices in Salome are solidly below the national average.

Single-family detached homes are the single most common housing type in Salome, accounting for 51.60% of the town's housing units. Other types of housing that are prevalent in Salome include mobile homes or trailers ( 42.27%).

Dwellings in Salome tend to be quite small (one, two, or no bedrooms) and owner occupied. In fact, 61.32% of the homes in Salome have two or fewer bedrooms.

There is a lot of housing in Salome 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 Salome built between 2000 and later ( 20.02%). A lesser amount of the housing stock also hails from between 1940-1969 ( 11.37%). There's also some housing in Salome built before 1939 ( 2.53%).

A decent proportion of the Salome housing stock is seasonally occupied. That is, homes and condos in Salome are occupied by people for a portion of the year - mainly for vacation purposes - and then locked up and left unoccupied for the remainder of the year as owners return to their primary residences. This characteristic of the Salome housing market speaks to its popularity as a vacation location of choice.

Salome Home Appreciation Rates

Salome's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Salome during the period has been just -1.94%, which is lower than 80% of US communities.

Appreciation rates are so strong in Salome that despite a nationwide downturn in the housing market, Salome real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Salome appreciation rates continue to be some of the highest in America, at 7.25%, which is higher than appreciation rates in 82.70% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Salome. Salome appreciation rates in the latest quarter were at 1.08%, which equates to an annual appreciation rate of 4.37%.

Relative to Arizona, our data show that Salome's latest annual appreciation rate is lower than 50% of the other cities and towns in Arizona.

Average Home Values

 

Median Home Value:
$99,384

Salome, AZ HOME PRICES

Value Range
> $1,226,000 1.0
$919,001 - $1,226,000 0.0
$613,001 - $919,000 0.0
$490,001 - $613,000 0.9
$368,001 - $490,000 2.6
$245,001 - $368,000 5.7
$123,001 - $245,000 29.9
$61,001 - $123,000 25.0
$0 - $61,000 34.9

Low for AZ
Low for Nation

Value Relative to Nation Value Relative to State
77.9385913512247 74.3243243243243

Number Of Homes And Apartments:
545

Salome 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
69.88% 3.12% 7 8
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$828 / per month

Homeownership Rate

Homeownership
Owners 92.29
Renters 7.71
Vacant 47.04

Housing Market Details

 

Age of Homes

AGE OF Salome HOMES
2000 or Newer 20.0
1970 - 1999 66.1
1940 - 1969 11.4
1939 or Older 2.5

Types of Homes

TYPE OF Salome HOMES
Single-Family 51.6
Townhomes 0.0
Small Apt. Buildings 0.0
Apt. Complexes 0.0
Mobile Homes 42.3
Other 6.1

Home Size

SIZE OF Salome HOMES
No Bedroom 0.00
1 Bedroom 29.35
2 Bedrooms 31.97
3 Bedrooms 32.17
4 Bedrooms 6.51
5 or more bedrooms 0.00

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Zip Codes in Salome, AZ