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 14,514 people, 4,345 houses or apartments, and a median cost of homes of $265,267, Somerton real estate and house prices are near the national average for all cities and towns.
Single-family detached homes are the single most common housing type in Somerton, accounting for 81.16% of the city's housing units. Other types of housing that are prevalent in Somerton include duplexes, homes converted to apartments or other small apartment buildings ( 11.16%), mobile homes or trailers ( 4.66%), and a few large apartment complexes or high rise apartments ( 2.57%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Somerton. Owner-occupied housing accounts for 71.64% of Somerton's homes, and 78.83% have either three or four bedrooms, which is average sized relative to America.
Somerton homes and real estate are some of the newest in America. 54.95% of Somerton's housing was built since 2000, making the city have a very new look and feel. If you like the amenities of newer homes and subdivisions, then you will probably like what the Somerton real estate market has to offer. Quite a bit of the housing here was also built between 1970-1999 ( 35.80%), and between 1940-1969 ( 9.25%).
In the last 10 years, Somerton has experienced some of the highest home appreciation rates of any community in the nation. Somerton real estate appreciated 130.48% over the last ten years, which is an average annual home appreciation rate of 8.71%, putting Somerton in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Somerton 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, Somerton appreciation rates have trailed the rest of the nation. In the last twelve months, Somerton's appreciation rate has been 4.55%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Somerton were at -0.12%, which equates to an annual appreciation rate of -0.50%.
Notably, Somerton's appreciation rate in the latest quarter is one of the lowest in America.
Relative to Arizona, our data show that Somerton's latest annual appreciation rate is lower than 50% of the other cities and towns in Arizona.
$265,267
for Arizona
for nation
4,345
$1,761 / per month