Single-family detached homes are the single most common housing type in Air Force Academy, accounting for 50.65% of the town's housing units. Other types of housing that are prevalent in Air Force Academy include row houses and other attached homes ( 48.05%), duplexes, homes converted to apartments or other small apartment buildings ( 1.30%).
Renters dominate Air Force Academy's housing market, and most live in three of four bedroom dwellings, chiefly found in single-family detached homes.
At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Air Force Academy's housing was primarily built during this period, from the '40s through the '60s. A full 68.51% of the town's housing hails from this era. Other housing ages represented in Air Force Academy include homes built between 1970-1999 ( 17.21%) and housing constructed between 2000 and later ( 12.99%). There's also some housing in Air Force Academy built before 1939 ( 1.30%).
Vacant housing appears to be an issue in Air Force Academy. Fully 31.01% of the housing stock is classified as vacant. Left unchecked, vacant Air Force Academy homes and apartments can be a drag on the real estate market, holding Air Force Academy 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.
Appreciation rates for homes in Air Force Academy have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 5.86%, which ranks in the top 50% nationwide. This equates to an annual average Air Force Academy house appreciation rate of 0.57%.
Appreciation rates are so strong in Air Force Academy that despite a nationwide downturn in the housing market, Air Force Academy real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Air Force Academy appreciation rates continue to be some of the highest in America, at 6.92%, which is higher than appreciation rates in 83.96% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Air Force Academy. Air Force Academy appreciation rates in the latest quarter were at 4.70%, which equates to an annual appreciation rate of 20.15%.
Importantly, this makes Air Force Academy one of the highest appreciating communities in the nation for the latest quarter, and may signal the town's near-future real estate investment strength.
Relative to Colorado, our data show that Air Force Academy's latest annual appreciation rate is lower than 50% of the other cities and towns in Colorado.
|AGE OF Air Force Academy HOMES|
|2000 or Newer||13.0|
|1970 - 1999||17.2|
|1940 - 1969||68.5|
|1939 or Older||1.3|
|TYPE OF Air Force Academy HOMES|
|Small Apt. Buildings||1.3|
|SIZE OF Air Force Academy HOMES|
|5 or more bedrooms||4.06|
|Time Period||Total Appreciation||Avg. Annual Rate||
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
2000 Q1 - 2016 Q3
|* 10 is highest|