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BUCKEYE HOUSING MARKET INFORMATION
With a population of 68,453, 16,499 total housing units (homes and apartments), and a median house value of $228,036, Buckeye real estate prices are well above average cost compared to national prices.
Single-family detached homes are the single most common housing type in Buckeye, accounting for 91.11% of the town’s housing units. Other types of housing that are prevalent in Buckeye include mobile homes or trailers ( 3.55%), large apartment complexes or high rise apartments ( 2.80%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 1.69%).
The most prevalent building size and type in Buckeye are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 59.84% owning and 40.16% renting.
Buckeye homes and real estate are some of the newest in America. 83.47% of Buckeye’s housing was built since 2000, making the town have a very new look and feel. If you like the amenities of newer homes and subdivisions, then you will probably like what the Buckeye real estate market has to offer. Quite a bit of the housing here was also built between 1970-1999 ( 12.52%), and between 1940-1969 ( 3.35%).
Vacant housing appears to be an issue in Buckeye. Fully 13.99% of the housing stock is classified as vacant. Left unchecked, vacant Buckeye homes and apartments can be a drag on the real estate market, holding Buckeye 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.
BUCKEYE HOME APPRECIATION RATES
Appreciation rates for homes in Buckeye have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 13.34%, which ranks in the top 50% nationwide. This equates to an annual average Buckeye house appreciation rate of 1.26%.
Appreciation rates are so strong in Buckeye that despite a nationwide downturn in the housing market, Buckeye real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Buckeye appreciation rates continue to be some of the highest in America, at 8.96%, which is higher than appreciation rates in 88.21% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Buckeye. Buckeye appreciation rates in the latest quarter were at 2.23%, which equates to an annual appreciation rate of 9.21%.
Relative to Arizona, our data show that Buckeye’s latest annual appreciation rate is higher than 80% of the other cities and towns in Arizona.
One very important thing to keep in mind is that these are average appreciation rates for the town. Individual neighborhoods within Buckeye differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Buckeye – 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 Buckeye real estate investment or home purchase decisions.
Information provided by: https://www.neighborhoodscout.com/az/buckeye/real-estate