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 17,290, 6,945 total housing units (homes and apartments), and a median house value of $830,494, New River house prices are not only among the most expensive in Arizona, New River real estate also is some of the most expensive in all of America.
Single-family detached homes are the single most common housing type in New River, accounting for 89.93% of the town's housing units. Other types of housing that are prevalent in New River include mobile homes or trailers ( 9.68%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in New River. Owner-occupied housing accounts for 93.54% of New River's homes, and 90.71% have either three or four bedrooms, which is average sized relative to America.
New River homes and real estate are some of the newest in America. 59.49% of New River's housing was built since 2000, making the town have a very new look and feel. If you like the amenities of newer homes and subdivisions, then you will probably like what the New River real estate market has to offer. Quite a bit of the housing here was also built between 1970-1999 ( 39.79%), and between 1940-1969 ( 0.64%).
In the last 10 years, New River has experienced some of the highest home appreciation rates of any community in the nation. New River real estate appreciated 126.51% over the last ten years, which is an average annual home appreciation rate of 8.52%, putting New River in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, New River definitely has a track record of being one of the best long term real estate investments in America through the last ten years.
Appreciation rates are so strong in New River that despite a nationwide downturn in the housing market, New River real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, New River appreciation rates continue to be some of the highest in America, at 8.65%, which is higher than appreciation rates in 77.38% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in New River. New River appreciation rates in the latest quarter were at 1.82%, which equates to an annual appreciation rate of 7.49%.
Relative to Arizona, our data show that New River's latest annual appreciation rate is higher than 90% of the other cities and towns in Arizona.
$830,494
for Arizona
for nation
6,945
$3,406 / per month