Truth or Consequences, NM
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Truth or Consequences Neighborhoods Since 2000




Truth or Consequences, 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

Truth or Consequences Housing Market Information

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.

Truth or Consequences Home Appreciation Rates

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.

Average Home Values

 

Median Home Value:
$77,840

Truth or Consequences, NM HOME PRICES

Value Range
> $1,062,000 0.9
$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

Very Low for NM
Very Low for Nation

Value Relative to Nation Value Relative to State
91.7848353451307 87.9310344827586

Number Of Homes And Apartments:
2,888

Truth or Consequences 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
45.76% 2.21% 4 5
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$555 / per month

Homeownership Rate

Homeownership
Owners 61.74
Renters 38.26
Vacant 30.11

Housing Market Details

 

Age of Homes

AGE OF Truth or Consequences HOMES
2000 or Newer 6.3
1970 - 1999 52.5
1940 - 1969 33.1
1939 or Older 8.1

Types of Homes

TYPE OF Truth or Consequences HOMES
Single-Family 42.1
Townhomes 0.9
Small Apt. Buildings 8.8
Apt. Complexes 11.2
Mobile Homes 34.7
Other 2.3

Home Size

SIZE OF Truth or Consequences HOMES
No Bedroom 5.20
1 Bedroom 22.60
2 Bedrooms 35.60
3 Bedrooms 31.99
4 Bedrooms 3.68
5 or more bedrooms 0.92

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Zip Codes in Truth or Consequences, NM