Edgewood, NM
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Edgewood, 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

Edgewood Housing Market Information

With 3,805 people, 1,403 houses or apartments, and a median cost of homes of $175,023, Edgewood real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Edgewood, accounting for 77.25% of the town's housing units. Other types of housing that are prevalent in Edgewood include mobile homes or trailers ( 19.56%), duplexes, homes converted to apartments or other small apartment buildings ( 3.19%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Edgewood. Owner-occupied housing accounts for 86.10% of Edgewood's homes, and 77.50% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Edgewood 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 Edgewood built between 2000 and later ( 23.94%). A lesser amount of the housing stock also hails from between 1940-1969 ( 0.75%).

Vacant housing appears to be an issue in Edgewood. Fully 12.31% of the housing stock is classified as vacant. Left unchecked, vacant Edgewood homes and apartments can be a drag on the real estate market, holding Edgewood 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.

Edgewood Home Appreciation Rates

Real estate appreciation rates in Edgewood's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.76% during the period.

Appreciation rates are so strong in Edgewood that despite a nationwide downturn in the housing market, Edgewood real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Edgewood appreciation rates continue to be some of the highest in America, at 6.98%, which is higher than appreciation rates in 81.23% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Edgewood. Edgewood appreciation rates in the latest quarter were at -3.28%, which equates to an annual appreciation rate of -12.47%.

Notably, Edgewood's appreciation rate in the latest quarter is one of the lowest in America.

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

Average Home Values

 

Median Home Value:
$175,023

Edgewood, NM HOME PRICES

Value Range
> $1,053,000 0.0
$789,001 - $1,053,000 0.6
$526,001 - $789,000 0.5
$421,001 - $526,000 1.6
$315,001 - $421,000 19.5
$210,001 - $315,000 22.1
$105,001 - $210,000 39.9
$52,001 - $105,000 7.5
$0 - $52,000 8.2

High for NM
High for Nation

Value Relative to Nation Value Relative to State
39.909762100082 25.8620689655172

Number Of Homes And Apartments:
1,403

Edgewood 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
33.72% 1.70% 2 4
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,261 / per month

Homeownership Rate

Homeownership
Owners 86.10
Renters 13.90
Vacant 12.31

Housing Market Details

 

Age of Homes

AGE OF Edgewood HOMES
2000 or Newer 23.9
1970 - 1999 75.3
1940 - 1969 0.8
1939 or Older 0.0

Types of Homes

TYPE OF Edgewood HOMES
Single-Family 77.3
Townhomes 0.0
Small Apt. Buildings 3.2
Apt. Complexes 0.0
Mobile Homes 19.6
Other 0.0

Home Size

SIZE OF Edgewood HOMES
No Bedroom 0.00
1 Bedroom 2.13
2 Bedrooms 14.37
3 Bedrooms 54.75
4 Bedrooms 22.75
5 or more bedrooms 6.00

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Zip Codes in Edgewood, NM