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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Clovis, NM Real Estate Market

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 Q4 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Clovis, NM Housing Market Trends

With 37,902 people, 15,031 houses or apartments, and a median cost of homes of $155,719, house prices in Clovis are solidly below the national average.

Single-family detached homes are the single most common housing type in Clovis, accounting for 77.40% of the city's housing units. Other types of housing that are prevalent in Clovis include duplexes, homes converted to apartments or other small apartment buildings ( 8.33%), large apartment complexes or high rise apartments ( 7.07%), and a few mobile homes or trailers ( 4.95%).

The most prevalent building size and type in Clovis are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 57.94% owning and 42.06% renting.

There is a lot of housing in Clovis 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 Clovis built between 1940-1969 ( 36.89%). A lesser amount of the housing stock also hails from between 2000 and later ( 17.82%). There's also some housing in Clovis built before 1939 ( 5.81%).

Vacant housing appears to be an issue in Clovis. Fully 11.27% of the housing stock is classified as vacant. Left unchecked, vacant Clovis homes and apartments can be a drag on the real estate market, holding Clovis 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.

Clovis Home Appreciation Rates

Some of the lowest real estate appreciation rates in America over the last ten years have been in Clovis, where house values have increased just 35.54%, which is annualized rate of 3.09%. This rate is lower than the appreciation rate found in 90% of the cities and towns in America.

NeighborhoodScout's data show that during the latest twelve months, Clovis's appreciation rate, at 5.72%, has been at or slightly above the national average. In the latest quarter, Clovis's appreciation rate has been -0.37%, which annualizes to a rate of -1.47%.

Relative to New Mexico, our data show that Clovis's latest annual appreciation rate is lower than 50% 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 Clovis differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Clovis - 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 Clovis real estate investment or home purchase decisions.

Average Home Values

Median Home Value

$155,719

Clovis, NM Home Prices
> $1,269,000
$951,001 - $1,269,000
$634,001 - $951,000
$508,001 - $634,000
$380,001 - $508,000
$254,001 - $380,000
$127,001 - $254,000
$63,001 - $127,000
$0 - $63,000
0.3%
0.3%
0.0%
0.0%
1.2%
1.2%
1.6%
1.6%
5.5%
5.5%
19.9%
19.9%
34.8%
34.8%
23.8%
23.8%
12.9%
12.9%
0% 100.0%
% of Homes
Low

for New mexico

Very Low

for nation

Number of Homes And Apartments:

15,031

Clovis Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,392 / per month

Homeownership Rate

Owners
Renters
57.9%
57.9%
42.1%
42.1%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
11.3%
11.3%
88.7%
88.7%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
17.8%
17.8%
39.5%
39.5%
36.9%
36.9%
5.8%
5.8%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
77.4%
77.4%
2.1%
2.1%
8.3%
8.3%
7.1%
7.1%
4.9%
4.9%
0.2%
0.2%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
2.0%
2.0%
8.4%
8.4%
23.6%
23.6%
50.0%
50.0%
14.0%
14.0%
2.0%
2.0%
0% 100.0%
% of Homes