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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more
With a population of 530,706, 206,342 total housing units (homes and apartments), and a median house value of $157,251, Tucson 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 Tucson, accounting for 51.96% of the city's housing units. Other types of housing that are prevalent in Tucson include large apartment complexes or high rise apartments ( 25.92%), row houses and other attached homes ( 7.98%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 7.69%).
People in Tucson primarily live in small (one, two or no bedroom) single-family detached homes. Tucson has a mixture of owner-occupied and renter-occupied housing.
There is a lot of housing in Tucson 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 Tucson built between 1940-1969 ( 31.71%). A lesser amount of the housing stock also hails from between 2000 and later ( 13.54%). There's also some housing in Tucson built before 1939 ( 3.81%).
Vacant housing appears to be an issue in Tucson. Fully 11.72% of the housing stock is classified as vacant. Left unchecked, vacant Tucson homes and apartments can be a drag on the real estate market, holding Tucson 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.
Homes have actually lost value in Tucson over the last then years, as home values have seen a decline of 17.86% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Tucson home appreciation rates at 2.52%, which equates to an annual appreciation rate of 10.49%.
Appreciation rates are so strong in Tucson that despite a nationwide downturn in the housing market, Tucson real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Tucson appreciation rates continue to be some of the highest in America, at 8.52%, which is higher than appreciation rates in 87.94% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Tucson. Tucson appreciation rates in the latest quarter were at 2.52%, which equates to an annual appreciation rate of 10.49%.
Importantly, this makes Tucson 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 Tucson's latest annual appreciation rate is lower than 70% 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 Tucson differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Tucson - 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 Tucson real estate investment or home purchase decisions.
|$948,001 - $1,264,000||0.3|
|$632,001 - $948,000||1.4|
|$506,001 - $632,000||1.7|
|$379,001 - $506,000||4.5|
|$253,001 - $379,000||13.1|
|$127,001 - $253,000||42.7|
|$63,001 - $127,000||23.6|
|$0 - $63,000||12.4|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
2017 Q2 - 2017 Q3
Last 12 Months:
2016 Q3 - 2017 Q3
Last 2 Years:
2015 Q3 - 2017 Q3
Last 5 Years:
2012 Q3 - 2017 Q3
Last 10 Years:
2007 Q3 - 2017 Q3
2000 Q1 - 2017 Q3
|* 10 is highest|
|AGE OF Tucson HOMES|
|2000 or Newer||13.5|
|1970 - 1999||50.9|
|1940 - 1969||31.7|
|1939 or Older||3.8|
|TYPE OF Tucson HOMES|
|Small Apt. Buildings||7.7|
|SIZE OF Tucson HOMES|
|5 or more bedrooms||1.44|