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 1,084 people, 370 houses or apartments, and a median cost of homes of $121,620, house prices in Pinon are some of the most affordable in Arizona as well as the nation.
Single-family detached homes are the single most common housing type in Pinon, accounting for 83.41% of the town's housing units. Other types of housing that are prevalent in Pinon include mobile homes or trailers ( 8.41%), large apartment complexes or high rise apartments ( 3.97%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 3.50%).
The most prevalent building size and type in Pinon are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 46.25% owning and 53.75% renting.
There is a lot of housing in Pinon 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 Pinon built between 2000 and later ( 15.65%). A lesser amount of the housing stock also hails from between 1940-1969 ( 8.41%). There's also some housing in Pinon built before 1939 ( 2.57%).
Vacant housing appears to be an issue in Pinon. Fully 13.55% of the housing stock is classified as vacant. Left unchecked, vacant Pinon homes and apartments can be a drag on the real estate market, holding Pinon 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.
In the last 10 years, Pinon has experienced some of the highest home appreciation rates of any community in the nation. Pinon real estate appreciated 166.19% over the last ten years, which is an average annual home appreciation rate of 10.29%, putting Pinon in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Pinon definitely has a track record of being one of the best long term real estate investments in America through the last ten years.
Over the last year, Pinon appreciation rates have trailed the rest of the nation. In the last twelve months, Pinon's appreciation rate has been 1.59%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Pinon were at 2.08%, which equates to an annual appreciation rate of 8.59%.
Relative to Arizona, our data show that Pinon's latest annual appreciation rate is lower than 80% of the other cities and towns in Arizona.
$121,620
for Arizona
for nation
370
$1,211 / per month