Magdalena, NM
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Magdalena, 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

Magdalena Housing Market Information

With 911 people, 234 houses or apartments, and a median cost of homes of $138,223, house prices in Magdalena are solidly below the national average.

Single-family detached homes are the single most common housing type in Magdalena, accounting for 66.97% of the village's housing units. Other types of housing that are prevalent in Magdalena include mobile homes or trailers ( 30.46%), duplexes, homes converted to apartments or other small apartment buildings ( 2.57%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Magdalena. Owner-occupied housing accounts for 89.74% of Magdalena's homes, and 55.60% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Magdalena 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 Magdalena built before 1939 ( 38.90%). A lesser amount of the housing stock also hails from between 1940-1969 ( 18.72%).

A decent proportion of the Magdalena housing stock is seasonally occupied. That is, homes and condos in Magdalena are occupied by people for a portion of the year - mainly for vacation purposes - and then locked up and left unoccupied for the remainder of the year as owners return to their primary residences. This characteristic of the Magdalena housing market speaks to its popularity as a vacation location of choice.

Magdalena Home Appreciation Rates

Appreciation rates for homes in Magdalena have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 14.17%, which ranks in the top 30% nationwide. This equates to an annual average Magdalena house appreciation rate of 1.33%.

Appreciation rates are so strong in Magdalena that despite a nationwide downturn in the housing market, Magdalena real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Magdalena appreciation rates continue to be some of the highest in America, at 6.37%, which is higher than appreciation rates in 76.93% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Magdalena. Magdalena 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 Magdalena's latest annual appreciation rate is higher than 70% of the other cities and towns in New Mexico.

Average Home Values

 

Median Home Value:
$138,223

Magdalena, NM HOME PRICES

Value Range
> $1,098,000 3.7
$823,001 - $1,098,000 0.0
$549,001 - $823,000 0.0
$439,001 - $549,000 2.6
$330,001 - $439,000 4.1
$220,001 - $330,000 23.0
$110,001 - $220,000 19.5
$55,001 - $110,000 29.1
$0 - $55,000 18.0

High for NM
Average for Nation

Value Relative to Nation Value Relative to State
55.6369389429275 38.7931034482759

Number Of Homes And Apartments:
234

Magdalena 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
81.19% 3.51% 9 9
* 10 is highest

Rent & Ownership

 

Average Market Rent:
/ per month

Homeownership Rate

Homeownership
Owners 89.74
Renters 10.26
Vacant 57.06

Housing Market Details

 

Age of Homes

AGE OF Magdalena HOMES
2000 or Newer 0.9
1970 - 1999 41.5
1940 - 1969 18.7
1939 or Older 38.9

Types of Homes

TYPE OF Magdalena HOMES
Single-Family 67.0
Townhomes 0.0
Small Apt. Buildings 2.6
Apt. Complexes 0.0
Mobile Homes 30.5
Other 0.0

Home Size

SIZE OF Magdalena HOMES
No Bedroom 3.49
1 Bedroom 6.06
2 Bedrooms 34.86
3 Bedrooms 49.17
4 Bedrooms 6.42
5 or more bedrooms 0.00

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Zip Codes in Magdalena, NM