Colby, KS
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Colby, KS 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

Colby Housing Market Information

With 5,417 people, 2,233 houses or apartments, and a median cost of homes of $136,139, house prices in Colby are solidly below the national average.

Single-family detached homes are the single most common housing type in Colby, accounting for 69.58% of the city's housing units. Other types of housing that are prevalent in Colby include duplexes, homes converted to apartments or other small apartment buildings ( 12.97%), large apartment complexes or high rise apartments ( 8.37%), and a few mobile homes or trailers ( 7.89%).

The most prevalent building size and type in Colby are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 61.57% owning and 38.43% renting.

There is a lot of housing in Colby 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 Colby built between 1940-1969 ( 36.23%). A lesser amount of the housing stock also hails from before 1939 ( 18.86%). There's also some housing in Colby built between 2000 and later ( 2.08%).

Vacant housing appears to be an issue in Colby. Fully 10.61% of the housing stock is classified as vacant. Left unchecked, vacant Colby homes and apartments can be a drag on the real estate market, holding Colby 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.

Colby Home Appreciation Rates

In the last 10 years, Colby has experienced some of the highest home appreciation rates of any community in the nation. Colby real estate appreciated 47.98% over the last ten years, which is an average annual home appreciation rate of 4.00%, putting Colby in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Colby definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

Over the last year, Colby appreciation rates have trailed the rest of the nation. In the last twelve months, Colby's appreciation rate has been 3.08%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Colby were at 1.04%, which equates to an annual appreciation rate of 4.23%.

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

Average Home Values

 

Median Home Value:
$136,139

Colby, KS HOME PRICES

Value Range
> $1,161,000 0.0
$870,001 - $1,161,000 1.2
$580,001 - $870,000 0.9
$464,001 - $580,000 1.6
$348,001 - $464,000 1.9
$232,001 - $348,000 15.6
$116,001 - $232,000 33.0
$58,001 - $116,000 30.0
$0 - $58,000 15.9

High for KS
Average for Nation

Value Relative to Nation Value Relative to State
56.6506504160319 28.7234042553192

Number Of Homes And Apartments:
2,233

Colby Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
KS*
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
58.17% 2.69% 8 7
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$601 / per month

Homeownership Rate

Homeownership
Owners 61.57
Renters 38.43
Vacant 10.61

Housing Market Details

 

Age of Homes

AGE OF Colby HOMES
2000 or Newer 2.1
1970 - 1999 42.8
1940 - 1969 36.2
1939 or Older 18.9

Types of Homes

TYPE OF Colby HOMES
Single-Family 69.6
Townhomes 1.2
Small Apt. Buildings 13.0
Apt. Complexes 8.4
Mobile Homes 7.9
Other 0.0

Home Size

SIZE OF Colby HOMES
No Bedroom 1.44
1 Bedroom 16.25
2 Bedrooms 23.18
3 Bedrooms 26.46
4 Bedrooms 24.50
5 or more bedrooms 8.17

Popular Neighborhoods in Colby

Popular Communities Near Colby, KS

Zip Codes in Colby, KS