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 6,733 people, 1,811 houses or apartments, and a median cost of homes of $616,092, real estate costs in Nuevo are among some of the highest in the nation, although house prices here don't compare to real estate prices in the most expensive California communities.
Single-family detached homes are the single most common housing type in Nuevo, accounting for 74.64% of the town's housing units. Other types of housing that are prevalent in Nuevo include mobile homes or trailers ( 24.02%), duplexes, homes converted to apartments or other small apartment buildings ( 1.34%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Nuevo. Owner-occupied housing accounts for 79.74% of Nuevo's homes, and 76.49% have either three or four bedrooms, which is average sized relative to America.
There is a lot of housing in Nuevo 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 Nuevo built between 2000 and later ( 25.93%). A lesser amount of the housing stock also hails from between 1940-1969 ( 14.97%). There's also some housing in Nuevo built before 1939 ( 1.65%).
In the last 10 years, Nuevo has experienced some of the highest home appreciation rates of any community in the nation. Nuevo real estate appreciated 139.75% over the last ten years, which is an average annual home appreciation rate of 9.14%, putting Nuevo in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Nuevo 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, Nuevo's appreciation rate, at 5.78%, has been at or slightly above the national average. In the latest quarter, Nuevo's appreciation rate has been 2.37%, which annualizes to a rate of 9.83%.
Relative to California, our data show that Nuevo's latest annual appreciation rate is lower than 50% of the other cities and towns in California.
$616,092
for California
for nation
1,811
$1,973 / per month