Ramah, NM
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Ramah, 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

Ramah Housing Market Information

With a population of 384, 71 total housing units (homes and apartments), and a median house value of $165,379, Ramah 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 Ramah, accounting for 48.99% of the town's housing units. Other types of housing that are prevalent in Ramah include mobile homes or trailers ( 40.27%), duplexes, homes converted to apartments or other small apartment buildings ( 10.74%).

The most prevalent building size and type in Ramah are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 54.84% owning and 45.16% renting.

There is a lot of housing in Ramah 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 Ramah built between 2000 and later ( 20.13%). A lesser amount of the housing stock also hails from between 1940-1969 ( 17.45%).

Vacant housing appears to be an issue in Ramah. Fully 52.35% of the housing stock is classified as vacant. Left unchecked, vacant Ramah homes and apartments can be a drag on the real estate market, holding Ramah 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.

Ramah Home Appreciation Rates

In the last 10 years, Ramah has experienced some of the highest home appreciation rates of any community in the nation. Ramah real estate appreciated 16.06% over the last ten years, which is an average annual home appreciation rate of 1.50%, putting Ramah in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Ramah definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

Appreciation rates are so strong in Ramah that despite a nationwide downturn in the housing market, Ramah real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Ramah appreciation rates continue to be some of the highest in America, at 6.65%, which is higher than appreciation rates in 78.90% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Ramah. Ramah 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 Ramah's latest annual appreciation rate is higher than 70% of the other cities and towns in New Mexico.

Average Home Values

 

Median Home Value:
$165,379

Ramah, NM HOME PRICES

Value Range
> $1,084,000 10.0
$813,001 - $1,084,000 0.0
$542,001 - $813,000 0.0
$433,001 - $542,000 0.0
$325,001 - $433,000 6.1
$217,001 - $325,000 13.4
$108,001 - $217,000 43.3
$54,001 - $108,000 10.8
$0 - $54,000 16.5

High for NM
Average for Nation

Value Relative to Nation Value Relative to State
43.484120473456 28.448275862069

Number Of Homes And Apartments:
71

Ramah 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
41.75% 2.04% 3 5
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$664 / per month

Homeownership Rate

Homeownership
Owners 54.84
Renters 45.16
Vacant 52.35

Housing Market Details

 

Age of Homes

AGE OF Ramah HOMES
2000 or Newer 20.1
1970 - 1999 62.4
1940 - 1969 17.4
1939 or Older 0.0

Types of Homes

TYPE OF Ramah HOMES
Single-Family 49.0
Townhomes 0.0
Small Apt. Buildings 10.7
Apt. Complexes 0.0
Mobile Homes 40.3
Other 0.0

Home Size

SIZE OF Ramah HOMES
No Bedroom 3.36
1 Bedroom 19.46
2 Bedrooms 12.75
3 Bedrooms 24.83
4 Bedrooms 30.87
5 or more bedrooms 8.72

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Zip Codes in Ramah, NM