Tucumcari, NM
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Tucumcari, 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

Tucumcari Housing Market Information

With a population of 5,025, 1,987 total housing units (homes and apartments), and a median house value of $97,198, house prices in Tucumcari are solidly below the national average.

Single-family detached homes are the single most common housing type in Tucumcari, accounting for 80.16% of the city's housing units. Other types of housing that are prevalent in Tucumcari include large apartment complexes or high rise apartments ( 7.62%), mobile homes or trailers ( 6.74%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 5.41%).

People in Tucumcari primarily live in small (one, two or no bedroom) single-family detached homes. Tucumcari has a mixture of owner-occupied and renter-occupied housing.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Tucumcari's housing was primarily built during this period, from the '40s through the '60s. A full 55.23% of the city's housing hails from this era. Other housing ages represented in Tucumcari include homes built between 1970-1999 ( 32.55%) and housing constructed before 1939 ( 10.32%). There's also some housing in Tucumcari built between 2000 and later ( 1.90%).

Vacant housing appears to be an issue in Tucumcari. Fully 30.23% of the housing stock is classified as vacant. Left unchecked, vacant Tucumcari homes and apartments can be a drag on the real estate market, holding Tucumcari 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.

Tucumcari Home Appreciation Rates

Appreciation rates for homes in Tucumcari have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 6.53%, which ranks in the top 40% nationwide. This equates to an annual average Tucumcari house appreciation rate of 0.63%.

Appreciation rates are so strong in Tucumcari that despite a nationwide downturn in the housing market, Tucumcari real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Tucumcari appreciation rates continue to be some of the highest in America, at 7.38%, which is higher than appreciation rates in 83.37% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Tucumcari. Tucumcari 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 Tucumcari's latest annual appreciation rate is higher than 80% of the other cities and towns in New Mexico.

Average Home Values

 

Median Home Value:
$97,198

Tucumcari, NM HOME PRICES

Value Range
> $1,080,000 0.3
$810,001 - $1,080,000 0.0
$540,001 - $810,000 0.0
$432,001 - $540,000 1.8
$324,001 - $432,000 2.1
$216,001 - $324,000 5.1
$108,001 - $216,000 19.8
$54,001 - $108,000 35.0
$0 - $54,000 35.9

Low for NM
Low for Nation

Value Relative to Nation Value Relative to State
79.3507558889019 68.1034482758621

Number Of Homes And Apartments:
1,987

Tucumcari 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
50.10% 2.38% 5 6
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$564 / per month

Homeownership Rate

Homeownership
Owners 64.83
Renters 35.17
Vacant 30.23

Housing Market Details

 

Age of Homes

AGE OF Tucumcari HOMES
2000 or Newer 1.9
1970 - 1999 32.5
1940 - 1969 55.2
1939 or Older 10.3

Types of Homes

TYPE OF Tucumcari HOMES
Single-Family 80.2
Townhomes 0.1
Small Apt. Buildings 5.4
Apt. Complexes 7.6
Mobile Homes 6.7
Other 0.0

Home Size

SIZE OF Tucumcari HOMES
No Bedroom 3.48
1 Bedroom 7.58
2 Bedrooms 38.17
3 Bedrooms 43.36
4 Bedrooms 5.51
5 or more bedrooms 1.90

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Zip Codes in Tucumcari, NM