Sierra Vista, AZ
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
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Highest Appreciating Sierra Vista Neighborhoods Since 2000




Sierra Vista, 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

Sierra Vista Housing Market Information

With a population of 43,355, 16,777 total housing units (homes and apartments), and a median house value of $170,745, Sierra Vista real estate and house prices are near the national average for all cities and towns.

Single-family detached homes are the single most common housing type in Sierra Vista, accounting for 65.13% of the city's housing units. Other types of housing that are prevalent in Sierra Vista include large apartment complexes or high rise apartments ( 19.64%), mobile homes or trailers ( 6.11%), and a few row houses and other attached homes ( 4.96%).

The most prevalent building size and type in Sierra Vista are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 49.12% owning and 50.88% renting.

There is a lot of housing in Sierra Vista 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 Sierra Vista built between 2000 and later ( 27.99%). A lesser amount of the housing stock also hails from between 1940-1969 ( 10.66%).

Vacant housing appears to be an issue in Sierra Vista. Fully 14.99% of the housing stock is classified as vacant. Left unchecked, vacant Sierra Vista homes and apartments can be a drag on the real estate market, holding Sierra Vista 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.

Sierra Vista Home Appreciation Rates

Homes have actually lost value in Sierra Vista over the last then years, as home values have seen a decline of 28.76% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Sierra Vista home appreciation rates at 3.79%, which equates to an annual appreciation rate of 16.04%.

Over the last year, Sierra Vista appreciation rates have trailed the rest of the nation. In the last twelve months, Sierra Vista's appreciation rate has been 3.12%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Sierra Vista were at 3.79%, which equates to an annual appreciation rate of 16.04%.

Importantly, NeighborhoodScout’s exclusive research found that Sierra Vista's housing market shows one of the <a href="/blog/highest-appreciating-cities">top real estate appreciation rates in the U.S.A.</a> in the latest quarter, which may signal the city’s near-future real estate investment strength.

Relative to Arizona, our data show that Sierra Vista's latest annual appreciation rate is lower than 90% 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 Sierra Vista differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Sierra Vista - 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 Sierra Vista real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$170,745

Sierra Vista, AZ HOME PRICES

Value Range
> $973,000 0.0
$730,001 - $973,000 0.0
$487,001 - $730,000 0.8
$389,001 - $487,000 1.9
$292,001 - $389,000 5.3
$195,001 - $292,000 29.0
$97,001 - $195,000 45.9
$49,001 - $97,000 10.1
$0 - $49,000 7.0

High for AZ
Average for Nation

Value Relative to Nation Value Relative to State
41.3922418844486 37.8378378378378

Number Of Homes And Apartments:
16,777

Sierra Vista 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
27.95% 1.44% 2 3
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,481 / per month

Homeownership Rate

Homeownership
Owners 49.12
Renters 50.88
Vacant 14.99

Housing Market Details

 

Age of Homes

AGE OF Sierra Vista HOMES
2000 or Newer 28.0
1970 - 1999 60.6
1940 - 1969 10.7
1939 or Older 0.7

Types of Homes

TYPE OF Sierra Vista HOMES
Single-Family 65.1
Townhomes 5.0
Small Apt. Buildings 4.0
Apt. Complexes 19.6
Mobile Homes 6.1
Other 0.2

Home Size

SIZE OF Sierra Vista HOMES
No Bedroom 4.80
1 Bedroom 7.63
2 Bedrooms 20.93
3 Bedrooms 45.16
4 Bedrooms 20.37
5 or more bedrooms 1.11