Artesia, NM
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Artesia, NM 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

Artesia Housing Market Information

With 12,036 people, 4,404 houses or apartments, and a median cost of homes of $147,771, Artesia real estate and house prices are near the national average for all cities and towns.

Single-family detached homes are the single most common housing type in Artesia, accounting for 77.42% of the city's housing units. Other types of housing that are prevalent in Artesia include mobile homes or trailers ( 10.40%), duplexes, homes converted to apartments or other small apartment buildings ( 5.62%), and a few large apartment complexes or high rise apartments ( 4.60%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Artesia. Owner-occupied housing accounts for 69.10% of Artesia's homes, and 61.08% have either three or four bedrooms, which is average sized relative to America.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Artesia's housing was primarily built during this period, from the '40s through the '60s. A full 51.17% of the city's housing hails from this era. Other housing ages represented in Artesia include homes built between 1970-1999 ( 30.97%) and housing constructed between 2000 and later ( 13.03%). There's also some housing in Artesia built before 1939 ( 4.84%).

Vacant housing appears to be an issue in Artesia. Fully 13.08% of the housing stock is classified as vacant. Left unchecked, vacant Artesia homes and apartments can be a drag on the real estate market, holding Artesia 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.

Artesia Home Appreciation Rates

In the last 10 years, Artesia has experienced some of the highest home appreciation rates of any community in the nation. Artesia real estate appreciated 24.75% over the last ten years, which is an average annual home appreciation rate of 2.24%, putting Artesia in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Artesia definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

NeighborhoodScout's data show that during the latest twelve months, Artesia's appreciation rate, at 4.53%, has been at or slightly above the national average. In the latest quarter, Artesia's appreciation rate has been 1.52%, which annualizes to a rate of 6.23%.

Relative to New Mexico, our data show that Artesia's latest annual appreciation rate is lower than 60% of the other cities and towns in New Mexico.

Average Home Values

 

Median Home Value:
$147,771

Artesia, NM HOME PRICES

Value Range
> $1,103,000 2.8
$827,001 - $1,103,000 0.2
$551,001 - $827,000 0.5
$441,001 - $551,000 3.0
$331,001 - $441,000 1.9
$220,001 - $331,000 16.1
$110,001 - $220,000 42.9
$55,001 - $110,000 22.6
$0 - $55,000 10.0

High for NM
Average for Nation

Value Relative to Nation Value Relative to State
51.0019922653229 32.7586206896552

Number Of Homes And Apartments:
4,404

Artesia Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
NM*
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
109.50% 4.38% 9 10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,026 / per month

Homeownership Rate

Homeownership
Owners 69.10
Renters 30.90
Vacant 13.08

Housing Market Details

 

Age of Homes

AGE OF Artesia HOMES
2000 or Newer 13.0
1970 - 1999 31.0
1940 - 1969 51.2
1939 or Older 4.8

Types of Homes

TYPE OF Artesia HOMES
Single-Family 77.4
Townhomes 2.0
Small Apt. Buildings 5.6
Apt. Complexes 4.6
Mobile Homes 10.4
Other 0.0

Home Size

SIZE OF Artesia HOMES
No Bedroom 1.60
1 Bedroom 7.99
2 Bedrooms 27.77
3 Bedrooms 47.09
4 Bedrooms 13.99
5 or more bedrooms 1.56

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Zip Codes in Artesia, NM