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.
With a population of 6,079, 2,888 total housing units (homes and apartments), and a median house value of $77,840, house prices in Truth or Consequences are some of the most affordable in New Mexico as well as the nation.
Single-family detached homes are the single most common housing type in Truth or Consequences, accounting for 42.13% of the city's housing units. Other types of housing that are prevalent in Truth or Consequences include mobile homes or trailers ( 34.70%), large apartment complexes or high rise apartments ( 11.16%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 8.81%).
People in Truth or Consequences primarily live in small (one, two or no bedroom) single-family detached homes. Truth or Consequences has a mixture of owner-occupied and renter-occupied housing.
There is a lot of housing in Truth or Consequences 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 Truth or Consequences built between 1940-1969 ( 33.08%). A lesser amount of the housing stock also hails from before 1939 ( 8.11%). There's also some housing in Truth or Consequences built between 2000 and later ( 6.32%).
Vacant housing appears to be an issue in Truth or Consequences. Fully 30.11% of the housing stock is classified as vacant. Left unchecked, vacant Truth or Consequences homes and apartments can be a drag on the real estate market, holding Truth or Consequences 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 Truth or Consequences's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.18% during the period.
Appreciation rates are so strong in Truth or Consequences that despite a nationwide downturn in the housing market, Truth or Consequences real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Truth or Consequences appreciation rates continue to be some of the highest in America, at 5.76%, which is higher than appreciation rates in 72.02% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Truth or Consequences. Truth or Consequences 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 Truth or Consequences's latest annual appreciation rate is higher than 50% of the other cities and towns in New Mexico.
|$796,001 - $1,062,000||0.0|
|$531,001 - $796,000||0.1|
|$424,001 - $531,000||1.2|
|$318,001 - $424,000||0.5|
|$212,001 - $318,000||8.0|
|$106,001 - $212,000||24.9|
|$53,001 - $106,000||36.9|
|$0 - $53,000||27.5|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
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
2000 Q1 - 2017 Q1
|* 10 is highest|
|AGE OF Truth or Consequences HOMES|
|2000 or Newer||6.3|
|1970 - 1999||52.5|
|1940 - 1969||33.1|
|1939 or Older||8.1|
|TYPE OF Truth or Consequences HOMES|
|Small Apt. Buildings||8.8|
|SIZE OF Truth or Consequences HOMES|
|5 or more bedrooms||0.92|