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 6,126 people, 2,593 houses or apartments, and a median cost of homes of $292,485, Aztec 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 Aztec, accounting for 53.12% of the city's housing units. Other types of housing that are prevalent in Aztec include mobile homes or trailers ( 21.03%), duplexes, homes converted to apartments or other small apartment buildings ( 16.94%), and a few large apartment complexes or high rise apartments ( 5.61%).
The most prevalent building size and type in Aztec are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 61.89% owning and 38.11% renting.
There is a lot of housing in Aztec 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 Aztec built between 1940-1969 ( 27.99%). A lesser amount of the housing stock also hails from between 2000 and later ( 13.91%). There's also some housing in Aztec built before 1939 ( 2.38%).
Vacant housing appears to be an issue in Aztec. Fully 10.74% of the housing stock is classified as vacant. Left unchecked, vacant Aztec homes and apartments can be a drag on the real estate market, holding Aztec 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.
Some of the lowest real estate appreciation rates in America over the last ten years have been in Aztec, where house values have increased just 50.06%, which is annualized rate of 4.14%. This rate is lower than the appreciation rate found in 90% of the cities and towns in America.
Appreciation rates are so strong in Aztec that despite a nationwide downturn in the housing market, Aztec real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Aztec appreciation rates continue to be some of the highest in America, at 10.32%, which is higher than appreciation rates in 88.70% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Aztec. Aztec appreciation rates in the latest quarter were at 5.82%, which equates to an annual appreciation rate of 25.39%.
Importantly, this makes Aztec one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.
Relative to New Mexico, our data show that Aztec's latest annual appreciation rate is higher than 90% of the other cities and towns in New Mexico.
One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Aztec differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Aztec - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Aztec real estate investment or home purchase decisions.
$292,485
for New mexico
for nation
2,593
$1,099 / per month