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 92,038 people, 33,850 houses or apartments, and a median cost of homes of $359,464, real estate costs in Longmont 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 Longmont, accounting for 62.30% of the city's housing units. Other types of housing that are prevalent in Longmont include large apartment complexes or high rise apartments ( 21.14%), row houses and other attached homes ( 7.04%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 6.84%).
The most prevalent building size and type in Longmont are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 61.20% owning and 38.80% renting.
There is a lot of housing in Longmont 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 Longmont built between 2000 and later ( 21.23%). A lesser amount of the housing stock also hails from between 1940-1969 ( 15.09%). There's also some housing in Longmont built before 1939 ( 6.22%).
In the last 10 years, Longmont has experienced some of the highest home appreciation rates of any community in the nation. Longmont real estate appreciated 40.36% over the last ten years, which is an average annual home appreciation rate of 3.45%, putting Longmont in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Longmont definitely has a track record of being one of the best long term real estate investments in America through the last ten years.
Appreciation rates are so strong in Longmont that despite a nationwide downturn in the housing market, Longmont real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Longmont appreciation rates continue to be some of the highest in America, at 11.27%, which is higher than appreciation rates in 96.46% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Longmont. Longmont appreciation rates in the latest quarter were at 3.03%, which equates to an annual appreciation rate of 12.69%.
Importantly, NeighborhoodScout’s exclusive research found that Longmont's housing market shows one of the <a href="/blog/highest-appreciating-cities">top real estate appreciation rates in the U.S.A.</a> in the latest quarter, which may signal the city’s near-future real estate investment strength.
Relative to Colorado, our data show that Longmont's latest annual appreciation rate is higher 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 Longmont differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Longmont - 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 Longmont real estate investment or home purchase decisions.
|$1,061,001 - $1,415,000||1.2|
|$707,001 - $1,061,000||3.7|
|$566,001 - $707,000||6.4|
|$425,001 - $566,000||19.6|
|$283,001 - $425,000||36.4|
|$142,001 - $283,000||26.7|
|$71,001 - $142,000||0.8|
|$0 - $71,000||4.6|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
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
2000 Q1 - 2017 Q1
|* 10 is highest|
|AGE OF Longmont HOMES|
|2000 or Newer||21.2|
|1970 - 1999||57.5|
|1940 - 1969||15.1|
|1939 or Older||6.2|
|TYPE OF Longmont HOMES|
|Small Apt. Buildings||6.8|
|SIZE OF Longmont HOMES|
|5 or more bedrooms||7.15|