Grants, NM
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Grants Neighborhoods Since 2000




Grants, 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

Grants Housing Market Information

With 9,239 people, 3,091 houses or apartments, and a median cost of homes of $124,466, 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 62.40% of the city's housing units. Other types of housing that are prevalent in Grants include mobile homes or trailers ( 16.44%), large apartment complexes or high rise apartments ( 8.82%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 8.42%).

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 56.75% owning and 43.25% 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 ( 39.93%). A lesser amount of the housing stock also hails from between 2000 and later ( 8.94%). There's also some housing in Grants built before 1939 ( 2.30%).

Vacant housing appears to be an issue in Grants. Fully 11.15% 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 14.54%, which ranks in the top 30% nationwide. This equates to an annual average Grants house appreciation rate of 1.37%.

Appreciation rates are so strong in Grants that despite a nationwide downturn in the housing market, Grants real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Grants appreciation rates continue to be some of the highest in America, at 6.34%, which is higher than appreciation rates in 76.78% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Grants. Grants appreciation rates in the latest quarter were at 1.52%, which equates to an annual appreciation rate of 6.23%.

Relative to New Mexico, our data show that Grants's latest annual appreciation rate is higher than 60% of the other cities and towns in New Mexico.

Average Home Values

 

Median Home Value:
$124,466

Grants, NM HOME PRICES

Value Range
> $1,157,000 0.0
$868,001 - $1,157,000 0.0
$579,001 - $868,000 0.2
$463,001 - $579,000 0.5
$347,001 - $463,000 3.2
$231,001 - $347,000 11.2
$116,001 - $231,000 38.2
$58,001 - $116,000 29.6
$0 - $58,000 17.1

Average for NM
Low for Nation

Value Relative to Nation Value Relative to State
62.8471815305285 47.4137931034483

Number Of Homes And Apartments:
3,091

Grants 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
71.80% 3.19% 8 9
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$560 / per month

Homeownership Rate

Homeownership
Owners 56.75
Renters 43.25
Vacant 11.15

Housing Market Details

 

Age of Homes

AGE OF Grants HOMES
2000 or Newer 8.9
1970 - 1999 48.8
1940 - 1969 39.9
1939 or Older 2.3

Types of Homes

TYPE OF Grants HOMES
Single-Family 62.4
Townhomes 3.9
Small Apt. Buildings 8.4
Apt. Complexes 8.8
Mobile Homes 16.4
Other 0.0

Home Size

SIZE OF Grants HOMES
No Bedroom 2.76
1 Bedroom 4.66
2 Bedrooms 26.50
3 Bedrooms 50.68
4 Bedrooms 14.75
5 or more bedrooms 0.66

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Zip Codes in Grants, NM