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 Q4 2019. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2018 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Durango Housing Market Information

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.

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 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.

Average Home Values

 

Median Home Value:
$499,361

Durango, CO HOME PRICES

Value Range
> $1,194,000 7.9
$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

High for CO
Very High for Nation

Value Relative to Nation Value Relative to State
7.36934306569343 20.8695652173913

Number Of Homes And Apartments:
7,167

Durango Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
CO*
Compared To
America*
Latest Quarter:
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
Since 2000:
2000 Q1 - 2019 Q4
127.68% 4.20%
9
10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,456 / per month

Homeownership Rate

Homeownership
Owners 55.90
Renters 44.10
Vacant 13.25

Housing Market Details

 

Age of Homes

AGE OF Durango HOMES
2000 or Newer 25.1
1970 - 1999 37.6
1940 - 1969 24.3
1939 or Older 13.0

Types of Homes

TYPE OF Durango HOMES
Single-Family 51.6
Townhomes 7.4
Small Apt. Buildings 10.8
Apt. Complexes 26.6
Mobile Homes 3.6
Other 0.0

Home Size

SIZE OF Durango HOMES
No Bedroom 5.86
1 Bedroom 14.12
2 Bedrooms 28.24
3 Bedrooms 37.06
4 Bedrooms 12.31
5 or more bedrooms 2.41