Durango, CO
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Durango, 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

Durango Housing Market Information

With a population of 18,006, 6,754 total housing units (homes and apartments), and a median house value of $453,651, Durango house prices are not only among the most expensive in Colorado, Durango real estate also is some of the most expensive in all of America.

Single-family detached homes are the single most common housing type in Durango, accounting for 48.45% of the city's housing units. Other types of housing that are prevalent in Durango include large apartment complexes or high rise apartments ( 26.35%), row houses and other attached homes ( 12.21%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 9.95%).

People in Durango primarily live in small (one, two or no bedroom) single-family detached homes. Durango has a mixture of owner-occupied and renter-occupied housing.

There is a lot of housing in Durango 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 Durango built between 2000 and later ( 22.12%). A lesser amount of the housing stock also hails from between 1940-1969 ( 21.86%). There's also some housing in Durango built before 1939 ( 15.49%).

Vacant housing appears to be an issue in Durango. Fully 10.74% of the housing stock is classified as vacant. Left unchecked, vacant Durango homes and apartments can be a drag on the real estate market, holding Durango 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.

Durango Home Appreciation Rates

Appreciation rates for homes in Durango have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 14.09%, which ranks in the top 30% nationwide. This equates to an annual average Durango house appreciation rate of 1.33%.

NeighborhoodScout's data show that during the latest twelve months, Durango's appreciation rate, at 3.54%, has been at or slightly above the national average. In the latest quarter, Durango's appreciation rate has been 0.00%, which annualizes to a rate of 0.00%.

Relative to Colorado, our data show that Durango's latest annual appreciation rate is lower than 80% 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 Durango differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Durango - 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 Durango real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$453,651

Durango, CO HOME PRICES

Value Range
> $1,188,000 3.9
$891,001 - $1,188,000 4.7
$594,001 - $891,000 14.6
$475,001 - $594,000 17.8
$357,001 - $475,000 32.0
$238,001 - $357,000 12.2
$119,001 - $238,000 5.6
$60,001 - $119,000 2.5
$0 - $60,000 6.7

Very High for CO
Very High for Nation

Value Relative to Nation Value Relative to State
7.27762803234501 18.7772925764192

Number Of Homes And Apartments:
6,754

Durango 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
98.32% 4.05% 10 10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,343 / per month

Homeownership Rate

Homeownership
Owners 44.37
Renters 55.63
Vacant 10.74

Housing Market Details

 

Age of Homes

AGE OF Durango HOMES
2000 or Newer 22.1
1970 - 1999 40.5
1940 - 1969 21.9
1939 or Older 15.5

Types of Homes

TYPE OF Durango HOMES
Single-Family 48.4
Townhomes 12.2
Small Apt. Buildings 10.0
Apt. Complexes 26.4
Mobile Homes 3.0
Other 0.0

Home Size

SIZE OF Durango HOMES
No Bedroom 5.04
1 Bedroom 14.97
2 Bedrooms 31.29
3 Bedrooms 34.33
4 Bedrooms 12.13
5 or more bedrooms 2.23