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 2,179, 1,006 total housing units (homes and apartments), and a median house value of $232,035, house prices in Tonopah are solidly below the national average.
Single-family detached homes are the single most common housing type in Tonopah, accounting for 53.65% of the town's housing units. Other types of housing that are prevalent in Tonopah include duplexes, homes converted to apartments or other small apartment buildings ( 24.89%), mobile homes or trailers ( 15.13%), and a few large apartment complexes or high rise apartments ( 6.33%).
People in Tonopah primarily live in small (one, two or no bedroom) single-family detached homes. Tonopah has a mixture of owner-occupied and renter-occupied housing.
There is a lot of housing in Tonopah 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 Tonopah built before 1939 ( 28.61%). A lesser amount of the housing stock also hails from between 2000 and later ( 17.14%). There's also some housing in Tonopah built between 1940-1969 ( 9.61%).
Vacant housing appears to be an issue in Tonopah. Fully 25.04% of the housing stock is classified as vacant. Left unchecked, vacant Tonopah homes and apartments can be a drag on the real estate market, holding Tonopah 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, Tonopah has experienced some of the highest home appreciation rates of any community in the nation. Tonopah real estate appreciated 151.60% over the last ten years, which is an average annual home appreciation rate of 9.67%, putting Tonopah in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Tonopah definitely has a track record of being one of the best long term real estate investments in America through the last ten years.
NeighborhoodScout's data show that during the latest twelve months, Tonopah's appreciation rate, at 5.75%, has been at or slightly above the national average. In the latest quarter, Tonopah's appreciation rate has been 1.01%, which annualizes to a rate of 4.08%.
Relative to Nevada, our data show that Tonopah's latest annual appreciation rate is higher than 50% of the other cities and towns in Nevada.
$232,035
$1,251 / per month