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 8,584 people, 3,553 houses or apartments, and a median cost of homes of $680,024, Corrales house prices are not only among the most expensive in New Mexico, Corrales real estate also is some of the most expensive in all of America.
Single-family detached homes are the single most common housing type in Corrales, accounting for 87.32% of the village's housing units. Other types of housing that are prevalent in Corrales include row houses and other attached homes ( 6.70%), mobile homes or trailers ( 5.99%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Corrales. Owner-occupied housing accounts for 91.27% of Corrales's homes, and 79.37% have either three or four bedrooms, which is average sized relative to America.
There is a lot of housing in Corrales 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 Corrales built between 2000 and later ( 18.14%). A lesser amount of the housing stock also hails from between 1940-1969 ( 13.83%). There's also some housing in Corrales built before 1939 ( 3.59%).
Corrales's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Corrales during the period has been just 4.68%, which is lower than 70% of US communities.
NeighborhoodScout's data show that during the latest twelve months, Corrales's appreciation rate, at 6.20%, has been at or slightly above the national average. In the latest quarter, Corrales's appreciation rate has been 2.76%, which annualizes to a rate of 11.50%.
Relative to New Mexico, our data show that Corrales's latest annual appreciation rate is lower than 70% of the other cities and towns in New Mexico.
$2,202 / per month