Belen, NM
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Belen, 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

Belen Housing Market Information

With a population of 7,152, 2,673 total housing units (homes and apartments), and a median house value of $110,616, house prices in Belen are solidly below the national average.

Single-family detached homes are the single most common housing type in Belen, accounting for 64.69% of the city's housing units. Other types of housing that are prevalent in Belen include mobile homes or trailers ( 16.79%), duplexes, homes converted to apartments or other small apartment buildings ( 8.30%), and a few large apartment complexes or high rise apartments ( 6.53%).

The most prevalent building size and type in Belen are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 63.76% owning and 36.24% renting.

There is a lot of housing in Belen 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 Belen built between 1940-1969 ( 28.99%). A lesser amount of the housing stock also hails from before 1939 ( 8.36%). There's also some housing in Belen built between 2000 and later ( 7.74%).

Vacant housing appears to be an issue in Belen. Fully 17.22% of the housing stock is classified as vacant. Left unchecked, vacant Belen homes and apartments can be a drag on the real estate market, holding Belen 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.

Belen Home Appreciation Rates

Homes have actually lost value in Belen over the last then years, as home values have seen a decline of 19.39% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Belen home appreciation rates at 0.49%, which equates to an annual appreciation rate of 1.99%.

Over the last year, Belen appreciation rates have trailed the rest of the nation. In the last twelve months, Belen's appreciation rate has been 2.84%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Belen were at 0.49%, which equates to an annual appreciation rate of 1.99%.

Relative to New Mexico, our data show that Belen's latest annual appreciation rate is lower than 80% 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 Belen differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Belen - 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 Belen real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$110,616

Belen, NM HOME PRICES

Value Range
> $1,033,000 0.0
$775,001 - $1,033,000 0.0
$516,001 - $775,000 0.7
$413,001 - $516,000 3.0
$310,001 - $413,000 0.5
$207,001 - $310,000 7.7
$103,001 - $207,000 36.9
$51,001 - $103,000 39.5
$0 - $51,000 11.7

Average for NM
Low for Nation

Value Relative to Nation Value Relative to State
71.0242587601078 54.3103448275862

Number Of Homes And Apartments:
2,673

Belen 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
15.26% 0.83% 1 2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$893 / per month

Homeownership Rate

Homeownership
Owners 63.76
Renters 36.24
Vacant 17.22

Housing Market Details

 

Age of Homes

AGE OF Belen HOMES
2000 or Newer 7.7
1970 - 1999 54.9
1940 - 1969 29.0
1939 or Older 8.4

Types of Homes

TYPE OF Belen HOMES
Single-Family 64.7
Townhomes 2.2
Small Apt. Buildings 8.3
Apt. Complexes 6.5
Mobile Homes 16.8
Other 1.5

Home Size

SIZE OF Belen HOMES
No Bedroom 2.38
1 Bedroom 7.96
2 Bedrooms 27.10
3 Bedrooms 55.13
4 Bedrooms 6.94
5 or more bedrooms 0.50