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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more
With a population of 84,612, 35,593 total housing units (homes and apartments), and a median house value of $346,773, Santa Fe real estate is some of the most expensive in New Mexico, although Santa Fe home values aren't among America's most expensive.
Single-family detached homes are the single most common housing type in Santa Fe, accounting for 56.68% of the city's housing units. Other types of housing that are prevalent in Santa Fe include large apartment complexes or high rise apartments ( 16.87%), duplexes, homes converted to apartments or other small apartment buildings ( 8.83%), and a few mobile homes or trailers ( 8.80%).
The most prevalent building size and type in Santa Fe are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 60.88% owning and 39.12% renting.
There is a lot of housing in Santa Fe 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 Santa Fe built between 1940-1969 ( 21.07%). A lesser amount of the housing stock also hails from between 2000 and later ( 20.54%). There's also some housing in Santa Fe built before 1939 ( 7.93%).
Vacant housing appears to be an issue in Santa Fe. Fully 14.51% of the housing stock is classified as vacant. Left unchecked, vacant Santa Fe homes and apartments can be a drag on the real estate market, holding Santa Fe 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.
Real estate appreciation rates in Santa Fe's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 1.94% during the period.
Appreciation rates are so strong in Santa Fe that despite a nationwide downturn in the housing market, Santa Fe real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Santa Fe appreciation rates continue to be some of the highest in America, at 8.27%, which is higher than appreciation rates in 99.01% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Santa Fe. Santa Fe appreciation rates in the latest quarter were at 3.88%, which equates to an annual appreciation rate of 16.46%.
Importantly, NeighborhoodScout’s exclusive research found that Santa Fe's housing market shows one of the <a href="/blog/highest-appreciating-cities">top real estate appreciation rates in the U.S.A.</a> in the latest quarter, which may signal the city’s near-future real estate investment strength.
Relative to New Mexico, our data show that Santa Fe's latest annual appreciation rate is higher than 90% 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 Santa Fe differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Santa Fe - 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 Santa Fe real estate investment or home purchase decisions.
|$930,001 - $1,240,000||4.2|
|$620,001 - $930,000||10.1|
|$496,001 - $620,000||7.8|
|$372,001 - $496,000||17.7|
|$248,001 - $372,000||29.2|
|$124,001 - $248,000||17.6|
|$62,001 - $124,000||3.0|
|$0 - $62,000||6.1|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
2019 Q3 - 2019 Q4
Last 12 Months:
2018 Q4 - 2019 Q4
Last 2 Years:
2017 Q4 - 2019 Q4
Last 5 Years:
2014 Q4 - 2019 Q4
Last 10 Years:
2009 Q4 - 2019 Q4
2000 Q1 - 2019 Q4
|* 10 is highest|
|AGE OF Santa Fe HOMES|
|2000 or Newer||20.5|
|1970 - 1999||50.5|
|1940 - 1969||21.1|
|1939 or Older||7.9|
|TYPE OF Santa Fe HOMES|
|Small Apt. Buildings||8.8|
|SIZE OF Santa Fe HOMES|
|5 or more bedrooms||1.83|