The housing market in the Espanola, NM Metro Area is strong, with the median value of houses currently standing at $253,100. This is significantly lower than the US median house value of $338,100. However, the one-year house appreciation rate in Espanola is higher than that of the US at 9.67%, compared to 8.27%. This indicates that real estate investments in this area are seeing a healthy return on investment in recent years. In addition to a growing market, there are more opportunities for prospective buyers and investors in the Espanola area due to its relatively low median housing value and increasing appreciation rates.
The median home cost in Espanola Metro Area is $253,100. Home appreciation the last 10 years has been 87.2%. Home Appreciation in Espanola Metro Area is up 15.7%.
Average Age of Homes
- The median age of Espanola Metro Area real estate is 36 years old
The Rental Market in Espanola Metro Area
- Renters make up 16.0% of the Espanola Metro Area population
- 0.7% of houses and apartments in Espanola Metro Area, are available to rent
DID YOU KNOW
Buying a home is the biggest single purchase most people make during their lives. The second largest is most often an automobile.