Bernalillo, NM
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Bernalillo, 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

Bernalillo Housing Market Information

With a population of 8,843, 3,123 total housing units (homes and apartments), and a median house value of $137,717, house prices in Bernalillo are solidly below the national average.

Single-family detached homes are the single most common housing type in Bernalillo, accounting for 62.11% of the town's housing units. Other types of housing that are prevalent in Bernalillo include mobile homes or trailers ( 26.23%), row houses and other attached homes ( 5.64%), and a few large apartment complexes or high rise apartments ( 3.38%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Bernalillo. Owner-occupied housing accounts for 71.32% of Bernalillo's homes, and 61.86% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Bernalillo 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 Bernalillo built between 2000 and later ( 30.04%). A lesser amount of the housing stock also hails from between 1940-1969 ( 12.63%). There's also some housing in Bernalillo built before 1939 ( 6.73%).

Vacant housing appears to be an issue in Bernalillo. Fully 10.57% of the housing stock is classified as vacant. Left unchecked, vacant Bernalillo homes and apartments can be a drag on the real estate market, holding Bernalillo 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.

Bernalillo Home Appreciation Rates

Bernalillo's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Bernalillo during the period has been just -1.50%, which is lower than 80% of US communities.

NeighborhoodScout's data show that during the latest twelve months, Bernalillo's appreciation rate, at 5.08%, has been at or slightly above the national average. In the latest quarter, Bernalillo's appreciation rate has been 0.49%, which annualizes to a rate of 1.99%.

Relative to New Mexico, our data show that Bernalillo's latest annual appreciation rate is lower than 50% of the other cities and towns in New Mexico.

Average Home Values

 

Median Home Value:
$137,717

Bernalillo, NM HOME PRICES

Value Range
> $1,055,000 0.4
$791,001 - $1,055,000 0.1
$528,001 - $791,000 2.0
$422,001 - $528,000 2.6
$317,001 - $422,000 5.1
$211,001 - $317,000 14.8
$106,001 - $211,000 36.9
$53,001 - $106,000 20.0
$0 - $53,000 18.3

High for NM
Average for Nation

Value Relative to Nation Value Relative to State
55.9064807219032 39.6551724137931

Number Of Homes And Apartments:
3,123

Bernalillo 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
25.23% 1.31% 1 3
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$920 / per month

Homeownership Rate

Homeownership
Owners 71.32
Renters 28.68
Vacant 10.57

Housing Market Details

 

Age of Homes

AGE OF Bernalillo HOMES
2000 or Newer 30.0
1970 - 1999 50.6
1940 - 1969 12.6
1939 or Older 6.7

Types of Homes

TYPE OF Bernalillo HOMES
Single-Family 62.1
Townhomes 5.6
Small Apt. Buildings 2.1
Apt. Complexes 3.4
Mobile Homes 26.2
Other 0.6

Home Size

SIZE OF Bernalillo HOMES
No Bedroom 0.40
1 Bedroom 6.82
2 Bedrooms 30.18
3 Bedrooms 51.78
4 Bedrooms 10.08
5 or more bedrooms 0.74