Canon City, CO
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Canon City Neighborhoods Since 2000




Canon City, CO 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

Canon City Housing Market Information

With a population of 16,395, 6,892 total housing units (homes and apartments), and a median house value of $181,088, Canon City real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Canon City, accounting for 65.73% of the city's housing units. Other types of housing that are prevalent in Canon City include large apartment complexes or high rise apartments ( 10.31%), mobile homes or trailers ( 10.22%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 9.79%).

The most prevalent building size and type in Canon City are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 56.06% owning and 43.94% renting.

There is a lot of housing in Canon City 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 Canon City built between 1940-1969 ( 21.60%). A lesser amount of the housing stock also hails from before 1939 ( 20.32%). There's also some housing in Canon City built between 2000 and later ( 13.75%).

Vacant housing appears to be an issue in Canon City. Fully 11.20% of the housing stock is classified as vacant. Left unchecked, vacant Canon City homes and apartments can be a drag on the real estate market, holding Canon City 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.

Canon City Home Appreciation Rates

Appreciation rates for homes in Canon City have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 1.54%, which ranks in the top 50% nationwide. This equates to an annual average Canon City house appreciation rate of 0.15%.

Appreciation rates are so strong in Canon City that despite a nationwide downturn in the housing market, Canon City real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Canon City appreciation rates continue to be some of the highest in America, at 5.77%, which is higher than appreciation rates in 72.09% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Canon City. Canon City appreciation rates in the latest quarter were at 0.00%, which equates to an annual appreciation rate of 0.00%.

Relative to Colorado, our data show that Canon City's latest annual appreciation rate is lower than 70% of the other cities and towns in Colorado.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Canon City differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Canon City - 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 Canon City real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$181,088

Canon City, CO HOME PRICES

Value Range
> $1,134,000 0.4
$850,001 - $1,134,000 0.2
$567,001 - $850,000 1.3
$453,001 - $567,000 2.0
$340,001 - $453,000 6.5
$227,001 - $340,000 17.2
$114,001 - $227,000 49.2
$57,001 - $114,000 13.6
$0 - $57,000 9.5

Low for CO
High for Nation

Value Relative to Nation Value Relative to State
37.7446384624399 73.7991266375546

Number Of Homes And Apartments:
6,892

Canon City Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
CO*
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
31.89% 1.62% 1 4
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$907 / per month

Homeownership Rate

Homeownership
Owners 56.06
Renters 43.94
Vacant 11.20

Housing Market Details

 

Age of Homes

AGE OF Canon City HOMES
2000 or Newer 13.7
1970 - 1999 44.3
1940 - 1969 21.6
1939 or Older 20.3

Types of Homes

TYPE OF Canon City HOMES
Single-Family 65.7
Townhomes 4.0
Small Apt. Buildings 9.8
Apt. Complexes 10.3
Mobile Homes 10.2
Other 0.0

Home Size

SIZE OF Canon City HOMES
No Bedroom 1.89
1 Bedroom 9.61
2 Bedrooms 35.09
3 Bedrooms 40.05
4 Bedrooms 9.91
5 or more bedrooms 3.45