Grants, NM
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Grants, NM Real Estate Data


Grants Housing Market Information

With a population of 9,239, 3,156 total housing units (homes and apartments), and a median house value of $122,116, house prices in Grants are solidly below the national average.

Single-family detached homes are the single most common housing type in Grants, accounting for 62.78% of the city's housing units. Other types of housing that are prevalent in Grants include mobile homes or trailers ( 14.62%), large apartment complexes or high rise apartments ( 9.01%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 8.83%).

The most prevalent building size and type in Grants are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 58.01% owning and 41.99% renting.

There is a lot of housing in Grants 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 Grants built between 1940-1969 ( 41.12%). A lesser amount of the housing stock also hails from between 2000 and later ( 8.18%). There's also some housing in Grants built before 1939 ( 2.98%).

Vacant housing appears to be an issue in Grants. Fully 14.56% of the housing stock is classified as vacant. Left unchecked, vacant Grants homes and apartments can be a drag on the real estate market, holding Grants 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.

Grants Home Appreciation Rates

Appreciation rates for homes in Grants have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 14.95%, which ranks in the top 30% nationwide. This equates to an annual average Grants house appreciation rate of 1.40%.

Over the last year, Grants appreciation rates have trailed the rest of the nation. In the last twelve months, Grants's appreciation rate has been 4.03%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Grants were at 1.69%, which equates to an annual appreciation rate of 6.93%.

Relative to New Mexico, our data show that Grants's latest annual appreciation rate is higher than 70% of the other cities and towns in New Mexico.

Average Home Values

 

Median Home Value:
$122,116

Grants, NM HOME PRICES

Value Range
> $1,139,000 0.0
$855,001 - $1,139,000 0.0
$570,001 - $855,000 0.1
$456,001 - $570,000 0.5
$342,001 - $456,000 1.6
$228,001 - $342,000 10.3
$114,001 - $228,000 36.6
$57,001 - $114,000 35.9
$0 - $57,000 14.9

Average for NM
Low for Nation

Value Relative to Nation Value Relative to State
65.0992563096563 47.4137931034483

Number Of Homes And Apartments:
3,156

Rent & Ownership

 

Average Market Rent:
$704 / per month

Homeownership Rate

Homeownership
Owners 58.01
Renters 41.99
Vacant 14.56

Housing Market Details

 

Age of Homes

AGE OF Grants HOMES
2000 or Newer 8.2
1970 - 1999 47.7
1940 - 1969 41.1
1939 or Older 3.0

Types of Homes

TYPE OF Grants HOMES
Single-Family 62.8
Townhomes 4.8
Small Apt. Buildings 8.8
Apt. Complexes 9.0
Mobile Homes 14.6
Other 0.0

Home Size

SIZE OF Grants HOMES
No Bedroom 1.71
1 Bedroom 5.82
2 Bedrooms 26.66
3 Bedrooms 53.33
4 Bedrooms 11.61
5 or more bedrooms 0.87

Grants Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
NM*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
64.59% 2.97% 7 8
* 10 is highest

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Zip Codes in Grants, NM