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 about Scout's Real Estate Data
With a population of 3,039, 1,530 total housing units (homes and apartments), and a median house value of $164,152, house prices in Ajo are solidly below the national average.
Single-family detached homes are the single most common housing type in Ajo, accounting for 83.14% of the town's housing units. Other types of housing that are prevalent in Ajo include mobile homes or trailers ( 10.50%), large apartment complexes or high rise apartments ( 4.23%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 2.14%).
Dwellings in Ajo tend to be quite small (one, two, or no bedrooms) and owner occupied. In fact, 56.29% of the homes in Ajo have two or fewer bedrooms.
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. Ajo's housing was primarily built during this period, from the '40s through the '60s. A full 49.65% of the town's housing hails from this era. Other housing ages represented in Ajo include homes built between 1970-1999 ( 30.42%) and housing constructed before 1939 ( 16.12%). There's also some housing in Ajo built between 2000 and later ( 3.81%).
Vacant housing appears to be an issue in Ajo. Fully 28.94% of the housing stock is classified as vacant. Left unchecked, vacant Ajo homes and apartments can be a drag on the real estate market, holding Ajo 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.
Ajo's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Ajo during the period has been just 4.84%, which is lower than 80% of US communities.
Appreciation rates are so strong in Ajo that despite a nationwide downturn in the housing market, Ajo real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Ajo appreciation rates continue to be some of the highest in America, at 12.44%, which is higher than appreciation rates in 94.50% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Ajo. Ajo appreciation rates in the latest quarter were at 0.10%, which equates to an annual appreciation rate of 0.42%.
Notably, Ajo's appreciation rate in the latest quarter is one of the lowest in America.
Relative to Arizona, our data show that Ajo's latest annual appreciation rate is higher than 90% of the other cities and towns in Arizona.
$164,152
for Arizona
for nation
1,530
$1,138 / per month