Las Cruces, NM
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Las Cruces, 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

Las Cruces Housing Market Information

With a population of 101,643, 38,925 total housing units (homes and apartments), and a median house value of $156,624, Las Cruces real estate and house prices are near the national average for all cities and towns.

Single-family detached homes are the single most common housing type in Las Cruces, accounting for 59.12% of the city's housing units. Other types of housing that are prevalent in Las Cruces include large apartment complexes or high rise apartments ( 15.84%), duplexes, homes converted to apartments or other small apartment buildings ( 11.32%), and a few mobile homes or trailers ( 8.89%).

The most prevalent building size and type in Las Cruces are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 54.40% owning and 45.60% renting.

There is a lot of housing in Las Cruces 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 Las Cruces built between 2000 and later ( 30.24%). A lesser amount of the housing stock also hails from between 1940-1969 ( 21.85%). There's also some housing in Las Cruces built before 1939 ( 3.22%).

Vacant housing appears to be an issue in Las Cruces. Fully 10.36% of the housing stock is classified as vacant. Left unchecked, vacant Las Cruces homes and apartments can be a drag on the real estate market, holding Las Cruces 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.

Las Cruces Home Appreciation Rates

Las Cruces's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Las Cruces during the period has been just -1.86%, which is lower than 80% of US communities.

Over the last year, Las Cruces appreciation rates have trailed the rest of the nation. In the last twelve months, Las Cruces's appreciation rate has been 2.18%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Las Cruces were at 0.32%, which equates to an annual appreciation rate of 1.28%.

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

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Las Cruces differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Las Cruces - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Las Cruces real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$156,624

Las Cruces, NM HOME PRICES

Value Range
> $1,008,000 0.3
$756,001 - $1,008,000 0.5
$504,001 - $756,000 2.1
$403,001 - $504,000 2.0
$303,001 - $403,000 3.6
$202,001 - $303,000 14.1
$101,001 - $202,000 48.2
$50,001 - $101,000 17.6
$0 - $50,000 11.6

High for NM
Average for Nation

Value Relative to Nation Value Relative to State
47.1346536974101 31.0344827586207

Number Of Homes And Apartments:
38,925

Las Cruces 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
35.89% 1.79% 2 4
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$909 / per month

Homeownership Rate

Homeownership
Owners 54.40
Renters 45.60
Vacant 10.36

Housing Market Details

 

Age of Homes

AGE OF Las Cruces HOMES
2000 or Newer 30.2
1970 - 1999 44.7
1940 - 1969 21.8
1939 or Older 3.2

Types of Homes

TYPE OF Las Cruces HOMES
Single-Family 59.1
Townhomes 4.7
Small Apt. Buildings 11.3
Apt. Complexes 15.8
Mobile Homes 8.9
Other 0.1

Home Size

SIZE OF Las Cruces HOMES
No Bedroom 2.70
1 Bedroom 9.73
2 Bedrooms 24.12
3 Bedrooms 49.77
4 Bedrooms 12.35
5 or more bedrooms 1.32