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 3,004 people, 714 houses or apartments, and a median cost of homes of $28,191, house prices in Mentmore are some of the most affordable in New Mexico as well as the nation.
Single-family detached homes are the single most common housing type in Mentmore, accounting for 63.77% of the town's housing units. Other types of housing that are prevalent in Mentmore include mobile homes or trailers ( 36.23%).
Dwellings in Mentmore tend to be quite small (one, two, or no bedrooms) and owner occupied. In fact, 62.29% of the homes in Mentmore have two or fewer bedrooms.
There is a lot of housing in Mentmore 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 Mentmore built between 2000 and later ( 19.02%). A lesser amount of the housing stock also hails from between 1940-1969 ( 12.17%). There's also some housing in Mentmore built before 1939 ( 1.24%).
Vacant housing appears to be an issue in Mentmore. Fully 32.70% of the housing stock is classified as vacant. Left unchecked, vacant Mentmore homes and apartments can be a drag on the real estate market, holding Mentmore 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 Mentmore, where house values have increased just 29.07%, which is annualized rate of 2.59%. This rate is lower than the appreciation rate found in 90% of the cities and towns in America.
Over the last year, Mentmore appreciation rates have trailed the rest of the nation. In the last twelve months, Mentmore's appreciation rate has been -0.80%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Mentmore were at 3.18%, which equates to an annual appreciation rate of 13.33%.
Importantly, this makes Mentmore one of the highest appreciating communities in the nation for the latest quarter, and may signal the town's near-future real estate investment strength.
Relative to New Mexico, our data show that Mentmore's latest annual appreciation rate is lower than 90% of the other cities and towns in New Mexico.
$28,191
for New mexico
for nation
714
/ per month