Fruitland, NM
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Fruitland, 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

Fruitland Housing Market Information

With 6,227 people, 981 houses or apartments, and a median cost of homes of $65,595, house prices in Fruitland are some of the most affordable in New Mexico as well as the nation.

Single-family detached homes are the single most common housing type in Fruitland, accounting for 56.67% of the town's housing units. Other types of housing that are prevalent in Fruitland include mobile homes or trailers ( 42.65%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Fruitland. Owner-occupied housing accounts for 82.14% of Fruitland's homes, and 58.49% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Fruitland 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 Fruitland built between 1940-1969 ( 16.70%). A lesser amount of the housing stock also hails from between 2000 and later ( 15.53%). There's also some housing in Fruitland built before 1939 ( 2.48%).

Vacant housing appears to be an issue in Fruitland. Fully 19.68% of the housing stock is classified as vacant. Left unchecked, vacant Fruitland homes and apartments can be a drag on the real estate market, holding Fruitland 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.

Fruitland Home Appreciation Rates

Appreciation rates for homes in Fruitland have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 0.67%, which ranks in the top 50% nationwide. This equates to an annual average Fruitland house appreciation rate of 0.07%.

Over the last year, Fruitland appreciation rates have trailed the rest of the nation. In the last twelve months, Fruitland's appreciation rate has been 1.08%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Fruitland were at 2.07%, which equates to an annual appreciation rate of 8.56%.

Importantly, this makes Fruitland one of the highest appreciating communities in the nation for the latest quarter, and may signal the town's near-future real estate investment strength.

Relative to New Mexico, our data show that Fruitland's latest annual appreciation rate is lower than 90% of the other cities and towns in New Mexico.

Average Home Values

 

Median Home Value:
$65,595

Fruitland, NM HOME PRICES

Value Range
> $1,038,000 0.5
$778,001 - $1,038,000 0.0
$519,001 - $778,000 0.0
$415,001 - $519,000 0.9
$311,001 - $415,000 2.1
$208,001 - $311,000 13.3
$104,001 - $208,000 26.4
$52,001 - $104,000 21.1
$0 - $52,000 35.7

Very Low for NM
Very Low for Nation

Value Relative to Nation Value Relative to State
96.6072893472401 93.9655172413793

Number Of Homes And Apartments:
981

Fruitland 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
76.34% 3.34% 8 9
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$793 / per month

Homeownership Rate

Homeownership
Owners 82.14
Renters 17.86
Vacant 19.68

Housing Market Details

 

Age of Homes

AGE OF Fruitland HOMES
2000 or Newer 15.5
1970 - 1999 65.3
1940 - 1969 16.7
1939 or Older 2.5

Types of Homes

TYPE OF Fruitland HOMES
Single-Family 56.7
Townhomes 0.3
Small Apt. Buildings 0.1
Apt. Complexes 0.2
Mobile Homes 42.6
Other 0.0

Home Size

SIZE OF Fruitland HOMES
No Bedroom 7.02
1 Bedroom 7.20
2 Bedrooms 23.50
3 Bedrooms 44.13
4 Bedrooms 14.37
5 or more bedrooms 3.78

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Zip Codes in Fruitland, NM