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 6,614 people, 2,983 houses or apartments, and a median cost of homes of $358,367, Rimrock real estate prices are well above average cost compared to national prices.
Single-family detached homes are the single most common housing type in Rimrock, accounting for 63.78% of the town's housing units. Other types of housing that are prevalent in Rimrock include mobile homes or trailers ( 21.91%), duplexes, homes converted to apartments or other small apartment buildings ( 4.93%), and a few large apartment complexes or high rise apartments ( 1.79%).
The most prevalent building size and type in Rimrock are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 63.88% owning and 36.13% renting.
There is a lot of housing in Rimrock 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 Rimrock built between 2000 and later ( 22.77%). A lesser amount of the housing stock also hails from between 1940-1969 ( 13.88%). There's also some housing in Rimrock built before 1939 ( 1.32%).
Vacant housing appears to be an issue in Rimrock. Fully 10.15% of the housing stock is classified as vacant. Left unchecked, vacant Rimrock homes and apartments can be a drag on the real estate market, holding Rimrock 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.
In the last 10 years, Rimrock has experienced some of the highest home appreciation rates of any community in the nation. Rimrock real estate appreciated 137.35% over the last ten years, which is an average annual home appreciation rate of 9.03%, putting Rimrock in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Rimrock definitely has a track record of being one of the best long term real estate investments in America through the last ten years.
NeighborhoodScout's data show that during the latest twelve months, Rimrock's appreciation rate, at 8.40%, has been at or slightly above the national average. In the latest quarter, Rimrock's appreciation rate has been 5.73%, which annualizes to a rate of 24.97%.
Importantly, this makes Rimrock one of the highest appreciating communities in the nation for the latest quarter, and may signal the town's near-future real estate investment strength.
Relative to Arizona, our data show that Rimrock's latest annual appreciation rate is higher than 60% of the other cities and towns in Arizona.
$358,367
for Arizona
for nation
2,983
$2,102 / per month