Snowflake, AZ
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Snowflake, 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

Snowflake Housing Market Information

With a population of 5,666, 1,709 total housing units (homes and apartments), and a median house value of $147,021, Snowflake 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 Snowflake, accounting for 78.79% of the town's housing units. Other types of housing that are prevalent in Snowflake include mobile homes or trailers ( 14.17%), duplexes, homes converted to apartments or other small apartment buildings ( 3.49%), and a few large apartment complexes or high rise apartments ( 2.45%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Snowflake. Owner-occupied housing accounts for 81.96% of Snowflake's homes, and 72.85% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Snowflake 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 Snowflake built between 2000 and later ( 29.08%). A lesser amount of the housing stock also hails from between 1940-1969 ( 14.70%). There's also some housing in Snowflake built before 1939 ( 5.05%).

Vacant housing appears to be an issue in Snowflake. Fully 10.94% of the housing stock is classified as vacant. Left unchecked, vacant Snowflake homes and apartments can be a drag on the real estate market, holding Snowflake 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.

Snowflake Home Appreciation Rates

Snowflake's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Snowflake during the period has been just -2.06%, which is lower than 80% of US communities.

Appreciation rates are so strong in Snowflake that despite a nationwide downturn in the housing market, Snowflake real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Snowflake appreciation rates continue to be some of the highest in America, at 9.50%, which is higher than appreciation rates in 92.32% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Snowflake. Snowflake 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 Snowflake's latest annual appreciation rate is higher than 70% of the other cities and towns in Arizona.

Average Home Values

 

Median Home Value:
$147,021

Snowflake, AZ HOME PRICES

Value Range
> $1,286,000 0.0
$965,001 - $1,286,000 0.5
$643,001 - $965,000 0.3
$514,001 - $643,000 1.2
$386,001 - $514,000 5.2
$257,001 - $386,000 9.6
$129,001 - $257,000 40.5
$64,001 - $129,000 29.5
$0 - $64,000 13.2

Average for AZ
Average for Nation

Value Relative to Nation Value Relative to State
51.2891128559709 47.972972972973

Number Of Homes And Apartments:
1,709

Snowflake 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
46.60% 2.24% 5 6
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,135 / per month

Homeownership Rate

Homeownership
Owners 81.96
Renters 18.04
Vacant 10.94

Housing Market Details

 

Age of Homes

AGE OF Snowflake HOMES
2000 or Newer 29.1
1970 - 1999 51.2
1940 - 1969 14.7
1939 or Older 5.1

Types of Homes

TYPE OF Snowflake HOMES
Single-Family 78.8
Townhomes 0.0
Small Apt. Buildings 3.5
Apt. Complexes 2.4
Mobile Homes 14.2
Other 1.1

Home Size

SIZE OF Snowflake HOMES
No Bedroom 1.09
1 Bedroom 6.77
2 Bedrooms 12.61
3 Bedrooms 53.99
4 Bedrooms 18.86
5 or more bedrooms 6.67

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Zip Codes in Snowflake, AZ