Gallup Metro Area, NM Housing

The housing market in Gallup, NM Metro Area is quite healthy. According to the data provided, the median value of a home in this area is $164,100, which is slightly lower than the national average of $338,100. In addition, the one-year appreciation rate for homes in the area is 9.54%, which is higher than the national average of 8.27%. This indicates that home values are increasing at a faster rate than most other areas throughout the country. As such, investing in real estate in this region could be a sound decision at this time.

The median home cost in Gallup Metro Area is $164,100. Home appreciation the last 10 years has been 56.9%. Home Appreciation in Gallup Metro Area is up 12.6%.

Average Age of Homes

- The median age of Gallup Metro Area real estate is 34 years old

The Rental Market in Gallup Metro Area

- Renters make up 18.7% of the Gallup Metro Area population
- 0.6% of houses and apartments in Gallup 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.

Median Monthly Rent by Number of Bedrooms

Housing by Year Built

Housing	Gallup, New Mexico	United States
	25,200.0	139,647,020.0
	39	42
	$164,100	$338,100
	12.6%	16.6%
	43.3%	57.0%
	56.9%	101.1%
	$17.45	$10.98
	$1,171	$2,690
	58.2%	57.4%
	17.6%	11.2%
	24.2%	31.4%
Vacant Housing
	0.6%	1.9%
	0.2%	0.4%
	0.1%	0.7%
	0.0%	0.4%
	4.5%	3.6%
	12.3%	4.1%
Value of Owner-Occupied Housing
	21.3%	2.6%
	12.8%	2.4%
	12.2%	2.8%
	10.0%	3.9%
	10.7%	4.5%
	13.5%	11.3%
	8.2%	13.0%
	6.5%	20.1%
	3.2%	13.6%
	0.6%	8.3%
	0.7%	9.7%
	0.2%	3.9%
	0.3%	2.2%
	0.0%	0.8%
	0.0%	1.1%
Housing Units by Year Structure Built
	0.1%	0.2%
	12.7%	13.6%
	12.7%	13.6%
	20.0%	13.6%
	17.0%	13.2%
	20.3%	14.8%
	20.0%	13.6%
	6.2%	10.0%
	4.5%	4.7%
	3.7%	12.2%

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