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 a population of 904, 368 total housing units (homes and apartments), and a median house value of $498,786, Hotchkiss real estate prices are well above average cost compared to national prices.
Single-family detached homes are the single most common housing type in Hotchkiss, accounting for 75.06% of the town's housing units. Other types of housing that are prevalent in Hotchkiss include mobile homes or trailers ( 16.87%), large apartment complexes or high rise apartments ( 5.13%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 2.45%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Hotchkiss. Owner-occupied housing accounts for 77.99% of Hotchkiss's homes, and 59.41% have either three or four bedrooms, which is average sized relative to America.
There is a lot of housing in Hotchkiss 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 Hotchkiss built between 1940-1969 ( 23.47%). A lesser amount of the housing stock also hails from before 1939 ( 19.07%). There's also some housing in Hotchkiss built between 2000 and later ( 5.62%).
Vacant housing appears to be an issue in Hotchkiss. Fully 10.02% of the housing stock is classified as vacant. Left unchecked, vacant Hotchkiss homes and apartments can be a drag on the real estate market, holding Hotchkiss 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.
Appreciation rates for homes in Hotchkiss have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 98.83%, which ranks in the top 40% nationwide. This equates to an annual average Hotchkiss house appreciation rate of 7.11%.
NeighborhoodScout's data show that during the latest twelve months, Hotchkiss's appreciation rate, at 9.20%, has been at or slightly above the national average. In the latest quarter, Hotchkiss's appreciation rate has been 0.45%, which annualizes to a rate of 1.81%.
Relative to Colorado, our data show that Hotchkiss's latest annual appreciation rate is higher than 80% of the other cities and towns in Colorado.
$498,786
for Colorado
for nation
368
$1,978 / per month