Bloomfield, NM
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Bloomfield Neighborhoods Since 2000




Bloomfield, 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

Bloomfield Housing Market Information

With 7,314 people, 2,508 houses or apartments, and a median cost of homes of $133,073, house prices in Bloomfield are solidly below the national average.

Single-family detached homes are the single most common housing type in Bloomfield, accounting for 46.25% of the city's housing units. Other types of housing that are prevalent in Bloomfield include mobile homes or trailers ( 39.98%), large apartment complexes or high rise apartments ( 6.27%), and a few row houses and other attached homes ( 3.90%).

The most prevalent building size and type in Bloomfield are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 60.92% owning and 39.08% renting.

There is a lot of housing in Bloomfield 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 Bloomfield built between 1940-1969 ( 21.43%). A lesser amount of the housing stock also hails from between 2000 and later ( 15.73%).

Vacant housing appears to be an issue in Bloomfield. Fully 14.95% of the housing stock is classified as vacant. Left unchecked, vacant Bloomfield homes and apartments can be a drag on the real estate market, holding Bloomfield 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.

Bloomfield Home Appreciation Rates

Real estate appreciation rates in Bloomfield's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.10% during the period.

Over the last year, Bloomfield appreciation rates have trailed the rest of the nation. In the last twelve months, Bloomfield's appreciation rate has been -2.06%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Bloomfield were at 2.07%, which equates to an annual appreciation rate of 8.56%.

Importantly, this makes Bloomfield 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 Bloomfield'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 Bloomfield differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Bloomfield - 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 Bloomfield real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$133,073

Bloomfield, NM HOME PRICES

Value Range
> $1,025,000 1.0
$769,001 - $1,025,000 1.5
$512,001 - $769,000 0.1
$410,001 - $512,000 1.6
$307,001 - $410,000 3.2
$205,001 - $307,000 12.8
$102,001 - $205,000 47.1
$51,001 - $102,000 15.4
$0 - $51,000 17.3

Average for NM
Average for Nation

Value Relative to Nation Value Relative to State
58.2386030704324 42.2413793103448

Number Of Homes And Apartments:
2,508

Bloomfield 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
50.58% 2.40% 5 6
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$895 / per month

Homeownership Rate

Homeownership
Owners 60.92
Renters 39.08
Vacant 14.95

Housing Market Details

 

Age of Homes

AGE OF Bloomfield HOMES
2000 or Newer 15.7
1970 - 1999 62.8
1940 - 1969 21.4
1939 or Older 0.0

Types of Homes

TYPE OF Bloomfield HOMES
Single-Family 46.3
Townhomes 3.9
Small Apt. Buildings 3.6
Apt. Complexes 6.3
Mobile Homes 40.0
Other 0.0

Home Size

SIZE OF Bloomfield HOMES
No Bedroom 4.00
1 Bedroom 6.07
2 Bedrooms 21.53
3 Bedrooms 57.34
4 Bedrooms 10.51
5 or more bedrooms 0.54

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Zip Codes in Bloomfield, NM