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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With a population of 8,497, 3,574 total housing units (homes and apartments), and a median house value of $772,108, Corrales house prices are not only among the most expensive in New Mexico, Corrales real estate also is some of the most expensive in all of America.
Single-family detached homes are the single most common housing type in Corrales, accounting for 88.18% of the village's housing units. Other types of housing that are prevalent in Corrales include row houses and other attached homes ( 6.57%), mobile homes or trailers ( 4.92%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Corrales. Owner-occupied housing accounts for 89.12% of Corrales's homes, and 77.32% have either three or four bedrooms, which is average sized relative to America.
There is a lot of housing in Corrales 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 Corrales built between 2000 and later ( 18.58%). A lesser amount of the housing stock also hails from between 1940-1969 ( 13.53%). There's also some housing in Corrales built before 1939 ( 4.36%).
Corrales's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Corrales during the period has been just 5.05%, which is lower than 70% of US communities.
Appreciation rates are so strong in Corrales that despite a nationwide downturn in the housing market, Corrales real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Corrales appreciation rates continue to be some of the highest in America, at 8.26%, which is higher than appreciation rates in 87.94% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Corrales. Corrales appreciation rates in the latest quarter were at 0.76%, which equates to an annual appreciation rate of 3.06%.
Relative to New Mexico, our data show that Corrales's latest annual appreciation rate is higher than 90% of the other cities and towns in New Mexico.
$772,108
for New mexico
for nation
3,574
$1,790 / per month