Somerton, AZ
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Somerton, 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

Somerton Housing Market Information

With a population of 15,048, 4,409 total housing units (homes and apartments), and a median house value of $122,744, house prices in Somerton are solidly below the national average.

Single-family detached homes are the single most common housing type in Somerton, accounting for 79.49% of the city's housing units. Other types of housing that are prevalent in Somerton include duplexes, homes converted to apartments or other small apartment buildings ( 9.82%), large apartment complexes or high rise apartments ( 5.64%), and a few row houses and other attached homes ( 2.75%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Somerton. Owner-occupied housing accounts for 68.27% of Somerton's homes, and 72.56% have either three or four bedrooms, which is average sized relative to America.

Somerton homes and real estate are some of the newest in America. 53.30% of Somerton's housing was built since 2000, making the city have a very new look and feel. If you like the amenities of newer homes and subdivisions, then you will probably like what the Somerton real estate market has to offer. Quite a bit of the housing here was also built between 1970-1999 ( 36.46%), and between 1940-1969 ( 8.20%). There's also some housing in Somerton built before 1939 ( 2.05%).

Somerton Home Appreciation Rates

Homes have actually lost value in Somerton over the last then years, as home values have seen a decline of 34.89% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Somerton home appreciation rates at -0.20%, which equates to an annual appreciation rate of -0.81%.

Over the last year, Somerton appreciation rates have trailed the rest of the nation. In the last twelve months, Somerton's appreciation rate has been -12.54%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Somerton were at -0.20%, which equates to an annual appreciation rate of -0.81%.

Relative to Arizona, our data show that Somerton's latest annual appreciation rate is lower than 90% of the other cities and towns in Arizona.

Average Home Values

 

Median Home Value:
$122,744

Somerton, AZ HOME PRICES

Value Range
> $1,061,000 0.1
$795,001 - $1,061,000 0.1
$530,001 - $795,000 0.4
$424,001 - $530,000 0.0
$318,001 - $424,000 0.3
$213,001 - $318,000 3.5
$106,001 - $213,000 59.4
$53,001 - $106,000 32.8
$0 - $53,000 3.4

Low for AZ
Low for Nation

Value Relative to Nation Value Relative to State
63.9048400328138 61.4864864864865

Number Of Homes And Apartments:
4,409

Somerton 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
27.96% 1.44% 2 3
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$866 / per month

Homeownership Rate

Homeownership
Owners 68.27
Renters 31.73
Vacant 6.87

Housing Market Details

 

Age of Homes

AGE OF Somerton HOMES
2000 or Newer 53.3
1970 - 1999 36.5
1940 - 1969 8.2
1939 or Older 2.0

Types of Homes

TYPE OF Somerton HOMES
Single-Family 79.5
Townhomes 2.7
Small Apt. Buildings 9.8
Apt. Complexes 5.6
Mobile Homes 2.3
Other 0.0

Home Size

SIZE OF Somerton HOMES
No Bedroom 1.44
1 Bedroom 5.56
2 Bedrooms 17.93
3 Bedrooms 49.03
4 Bedrooms 23.53
5 or more bedrooms 2.51

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Zip Codes in Somerton, AZ