Cuba, NM
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Cuba, NM Real Estate Data


Cuba Housing Market Information

With 736 people, 277 houses or apartments, and a median cost of homes of $138,802, house prices in Cuba are solidly below the national average.

Mobile homes or trailers are the single most common housing type in Cuba, accounting for 53.19% of the village's housing units. Other types of housing that are prevalent in Cuba include single-family detached homes ( 34.35%), duplexes, homes converted to apartments or other small apartment buildings ( 8.03%), and a few row houses and other attached homes ( 3.88%).

Owner-occupied, three and four bedroom dwellings, primarily in mobile homes or trailers are the most prevalent type of housing you will see in Cuba. Owner-occupied housing accounts for 68.59% of Cuba's homes, and 55.12% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Cuba 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 Cuba built between 2000 and later ( 13.30%). A lesser amount of the housing stock also hails from between 1940-1969 ( 12.47%). There's also some housing in Cuba built before 1939 ( 4.43%).

Vacant housing appears to be an issue in Cuba. Fully 23.27% of the housing stock is classified as vacant. Left unchecked, vacant Cuba homes and apartments can be a drag on the real estate market, holding Cuba 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.

Cuba Home Appreciation Rates

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

Appreciation rates are so strong in Cuba that despite a nationwide downturn in the housing market, Cuba real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Cuba appreciation rates continue to be some of the highest in America, at 6.87%, which is higher than appreciation rates in 79.40% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Cuba. Cuba appreciation rates in the latest quarter were at 0.86%, which equates to an annual appreciation rate of 3.50%.

Relative to New Mexico, our data show that Cuba's latest annual appreciation rate is higher than 80% of the other cities and towns in New Mexico.

Average Home Values

 

Median Home Value:
$138,802

Cuba, NM HOME PRICES

Value Range
> $1,102,000 4.1
$826,001 - $1,102,000 0.0
$551,001 - $826,000 0.0
$441,001 - $551,000 0.0
$331,001 - $441,000 6.4
$221,001 - $331,000 11.4
$111,001 - $221,000 48.3
$55,001 - $111,000 6.7
$0 - $55,000 23.1

High for NM
Average for Nation

Value Relative to Nation Value Relative to State
55.1388726122114 36.2068965517241

Number Of Homes And Apartments:
277

Rent & Ownership

 

Average Market Rent:
$608 / per month

Homeownership Rate

Homeownership
Owners 68.59
Renters 31.41
Vacant 23.27

Housing Market Details

 

Age of Homes

AGE OF Cuba HOMES
2000 or Newer 13.3
1970 - 1999 69.8
1940 - 1969 12.5
1939 or Older 4.4

Types of Homes

TYPE OF Cuba HOMES
Single-Family 34.3
Townhomes 3.9
Small Apt. Buildings 8.0
Apt. Complexes 0.6
Mobile Homes 53.2
Other 0.0

Home Size

SIZE OF Cuba HOMES
No Bedroom 3.05
1 Bedroom 4.71
2 Bedrooms 37.12
3 Bedrooms 48.20
4 Bedrooms 6.93
5 or more bedrooms 0.00

Cuba Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
NM*
Compared To
America*
Latest Quarter:
2016 Q3 - 2016 Q4
Last 12 Months:
2015 Q4 - 2016 Q4
Last 2 Years:
2014 Q4 - 2016 Q4
Last 5 Years:
2011 Q4 - 2016 Q4
Last 10 Years:
2006 Q4 - 2016 Q4
Since 2000:
2000 Q1 - 2016 Q4
41.92% 2.05% 3 5
* 10 is highest

Popular Neighborhoods in Cuba

Popular Communities Near Cuba, NM

Zip Codes in Cuba, NM