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 786 people, 369 houses or apartments, and a median cost of homes of $170,016, house prices in Magdalena are solidly below the national average.
Single-family detached homes are the single most common housing type in Magdalena, accounting for 64.81% of the village's housing units. Other types of housing that are prevalent in Magdalena include mobile homes or trailers ( 33.84%), large apartment complexes or high rise apartments ( 1.35%).
Dwellings in Magdalena tend to be quite small (one, two, or no bedrooms) and owner occupied. In fact, 74.45% of the homes in Magdalena have two or fewer bedrooms.
The housing in Magdalena was primarily built before 1939 ( 43.49%), making the housing stock in Magdalena some of the oldest overall in America, although there is a range of ages of homes in Magdalena. The next most important housing age is between 1970-1999 ( 39.42%), followed by between 1940-1969 ( 14.38%). There's also some housing in Magdalena built between 2000 and later ( 2.71%).
Vacant housing appears to be an issue in Magdalena. Fully 37.56% of the housing stock is classified as vacant. Left unchecked, vacant Magdalena homes and apartments can be a drag on the real estate market, holding Magdalena 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.
Magdalena's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Magdalena during the period has been just 5.42%, which is lower than 70% of US communities.
NeighborhoodScout's data show that during the latest twelve months, Magdalena's appreciation rate, at 5.87%, has been at or slightly above the national average. In the latest quarter, Magdalena's appreciation rate has been 3.18%, which annualizes to a rate of 13.34%.
Importantly, this makes Magdalena one of the highest appreciating communities in the nation for the latest quarter, and may signal the village's near-future real estate investment strength.
Relative to New Mexico, our data show that Magdalena's latest annual appreciation rate is lower than 50% of the other cities and towns in New Mexico.
$170,016
for New mexico
for nation
369
$874 / per month