Aztec, NM
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Aztec Neighborhoods Since 2000




Aztec, 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

Aztec Housing Market Information

With a population of 6,147, 2,578 total housing units (homes and apartments), and a median house value of $157,272, Aztec 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 Aztec, accounting for 60.68% of the city's housing units. Other types of housing that are prevalent in Aztec include mobile homes or trailers ( 23.91%), duplexes, homes converted to apartments or other small apartment buildings ( 7.62%), and a few large apartment complexes or high rise apartments ( 4.93%).

The most prevalent building size and type in Aztec are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 61.90% owning and 38.10% renting.

There is a lot of housing in Aztec 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 Aztec built between 1940-1969 ( 25.78%). A lesser amount of the housing stock also hails from between 2000 and later ( 11.97%). There's also some housing in Aztec built before 1939 ( 5.44%).

Vacant housing appears to be an issue in Aztec. Fully 12.31% of the housing stock is classified as vacant. Left unchecked, vacant Aztec homes and apartments can be a drag on the real estate market, holding Aztec 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.

Aztec Home Appreciation Rates

Appreciation rates for homes in Aztec have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 7.26%, which ranks in the top 40% nationwide. This equates to an annual average Aztec house appreciation rate of 0.70%.

Over the last year, Aztec appreciation rates have trailed the rest of the nation. In the last twelve months, Aztec's appreciation rate has been 0.72%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Aztec were at 2.07%, which equates to an annual appreciation rate of 8.56%.

Importantly, this makes Aztec one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.

Relative to New Mexico, our data show that Aztec's latest annual appreciation rate is lower than 90% of the other cities and towns in New Mexico.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Aztec differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Aztec - 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 Aztec real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$157,272

Aztec, NM HOME PRICES

Value Range
> $1,063,000 0.0
$797,001 - $1,063,000 1.0
$532,001 - $797,000 0.3
$425,001 - $532,000 0.4
$319,001 - $425,000 6.8
$213,001 - $319,000 20.3
$107,001 - $213,000 40.0
$53,001 - $107,000 8.9
$0 - $53,000 22.3

High for NM
Average for Nation

Value Relative to Nation Value Relative to State
46.9090589476151 30.1724137931034

Number Of Homes And Apartments:
2,578

Aztec 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
63.89% 2.91% 7 8
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,144 / per month

Homeownership Rate

Homeownership
Owners 61.90
Renters 38.10
Vacant 12.31

Housing Market Details

 

Age of Homes

AGE OF Aztec HOMES
2000 or Newer 12.0
1970 - 1999 56.8
1940 - 1969 25.8
1939 or Older 5.4

Types of Homes

TYPE OF Aztec HOMES
Single-Family 60.7
Townhomes 2.7
Small Apt. Buildings 7.6
Apt. Complexes 4.9
Mobile Homes 23.9
Other 0.1

Home Size

SIZE OF Aztec HOMES
No Bedroom 1.05
1 Bedroom 12.21
2 Bedrooms 28.54
3 Bedrooms 46.02
4 Bedrooms 10.54
5 or more bedrooms 1.63