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 18,985 people, 7,167 houses or apartments, and a median cost of homes of $499,361, real estate costs in Durango are among some of the highest in the nation, although house prices here don't compare to real estate prices in the most expensive Colorado communities.
Single-family detached homes are the single most common housing type in Durango, accounting for 51.59% of the city's housing units. Other types of housing that are prevalent in Durango include large apartment complexes or high rise apartments ( 26.60%), duplexes, homes converted to apartments or other small apartment buildings ( 10.78%), and a few row houses and other attached homes ( 7.40%).
The most prevalent building size and type in Durango are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 55.90% owning and 44.10% renting.
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 ( 25.10%). A lesser amount of the housing stock also hails from between 1940-1969 ( 24.30%). There's also some housing in Durango built before 1939 ( 13.02%).
Vacant housing appears to be an issue in Durango. Fully 13.25% 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.
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 35.65%, which ranks in the top 30% nationwide. This equates to an annual average Durango house appreciation rate of 3.10%.
Appreciation rates are so strong in Durango that despite a nationwide downturn in the housing market, Durango real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Durango appreciation rates continue to be some of the highest in America, at 5.55%, which is higher than appreciation rates in 79.84% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Durango. Durango appreciation rates in the latest quarter were at 1.12%, which equates to an annual appreciation rate of 4.58%.
Relative to Colorado, our data show that Durango's latest annual appreciation rate is higher 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 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.
|$895,001 - $1,194,000||6.0|
|$597,001 - $895,000||20.1|
|$477,001 - $597,000||23.5|
|$358,001 - $477,000||20.0|
|$239,001 - $358,000||9.6|
|$119,001 - $239,000||4.3|
|$60,001 - $119,000||3.5|
|$0 - $60,000||4.9|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
2019 Q3 - 2019 Q4
Last 12 Months:
2018 Q4 - 2019 Q4
Last 2 Years:
2017 Q4 - 2019 Q4
Last 5 Years:
2014 Q4 - 2019 Q4
Last 10 Years:
2009 Q4 - 2019 Q4
2000 Q1 - 2019 Q4
|* 10 is highest|
|AGE OF Durango HOMES|
|2000 or Newer||25.1|
|1970 - 1999||37.6|
|1940 - 1969||24.3|
|1939 or Older||13.0|
|TYPE OF Durango HOMES|
|Small Apt. Buildings||10.8|
|SIZE OF Durango HOMES|
|5 or more bedrooms||2.41|