Shiprock, NM
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Shiprock, 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

Shiprock Housing Market Information

With 7,819 people, 2,173 houses or apartments, and a median cost of homes of $101,682, house prices in Shiprock are solidly below the national average.

Single-family detached homes are the single most common housing type in Shiprock, accounting for 62.12% of the town's housing units. Other types of housing that are prevalent in Shiprock include mobile homes or trailers ( 26.13%), row houses and other attached homes ( 5.28%), and a few large apartment complexes or high rise apartments ( 3.58%).

The most prevalent building size and type in Shiprock are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 55.20% owning and 44.80% renting.

There is a lot of housing in Shiprock 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 Shiprock built between 1940-1969 ( 21.88%). A lesser amount of the housing stock also hails from between 2000 and later ( 19.81%). There's also some housing in Shiprock built before 1939 ( 1.03%).

Vacant housing appears to be an issue in Shiprock. Fully 19.70% of the housing stock is classified as vacant. Left unchecked, vacant Shiprock homes and apartments can be a drag on the real estate market, holding Shiprock 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.

Shiprock Home Appreciation Rates

Appreciation rates for homes in Shiprock have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 7.97%, which ranks in the top 40% nationwide. This equates to an annual average Shiprock house appreciation rate of 0.77%.

Over the last year, Shiprock appreciation rates have trailed the rest of the nation. In the last twelve months, Shiprock's appreciation rate has been 1.77%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Shiprock were at 2.07%, which equates to an annual appreciation rate of 8.56%.

Importantly, this makes Shiprock one of the highest appreciating communities in the nation for the latest quarter, and may signal the town's near-future real estate investment strength.

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

Average Home Values

 

Median Home Value:
$101,682

Shiprock, NM HOME PRICES

Value Range
> $1,075,000 0.0
$806,001 - $1,075,000 0.8
$537,001 - $806,000 3.7
$430,001 - $537,000 0.0
$323,001 - $430,000 0.0
$215,001 - $323,000 3.4
$108,001 - $215,000 32.0
$54,001 - $108,000 25.1
$0 - $54,000 35.0

Low for NM
Low for Nation

Value Relative to Nation Value Relative to State
76.4971287940935 65.5172413793103

Number Of Homes And Apartments:
2,173

Shiprock 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
113.25% 4.49% 10 10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$648 / per month

Homeownership Rate

Homeownership
Owners 55.20
Renters 44.80
Vacant 19.70

Housing Market Details

 

Age of Homes

AGE OF Shiprock HOMES
2000 or Newer 19.8
1970 - 1999 57.3
1940 - 1969 21.9
1939 or Older 1.0

Types of Homes

TYPE OF Shiprock HOMES
Single-Family 62.1
Townhomes 5.3
Small Apt. Buildings 2.9
Apt. Complexes 3.6
Mobile Homes 26.1
Other 0.0

Home Size

SIZE OF Shiprock HOMES
No Bedroom 3.03
1 Bedroom 9.46
2 Bedrooms 28.20
3 Bedrooms 49.63
4 Bedrooms 7.65
5 or more bedrooms 2.03

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Zip Codes in Shiprock, NM