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 8,970 people, 3,806 houses or apartments, and a median cost of homes of $292,801, Craig real estate values are some of the lowest in Colorado, although compared to real estate around the nation, Craig homes are still considered rather expensive.
Single-family detached homes are the single most common housing type in Craig, accounting for 59.05% of the city's housing units. Other types of housing that are prevalent in Craig include large apartment complexes or high rise apartments ( 13.79%), mobile homes or trailers ( 12.88%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 8.01%).
The most prevalent building size and type in Craig are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 58.22% owning and 41.78% renting.
There is a lot of housing in Craig 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 Craig built between 1940-1969 ( 24.80%). A lesser amount of the housing stock also hails from before 1939 ( 9.97%). There's also some housing in Craig built between 2000 and later ( 5.17%).
Vacant housing appears to be an issue in Craig. Fully 10.89% of the housing stock is classified as vacant. Left unchecked, vacant Craig homes and apartments can be a drag on the real estate market, holding Craig 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.
Craig's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Craig during the period has been just 5.42%, which is lower than 70% of US communities.
Over the last year, Craig appreciation rates have trailed the rest of the nation. In the last twelve months, Craig's appreciation rate has been 2.56%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Craig were at -0.63%, which equates to an annual appreciation rate of -2.49%.
Notably, Craig's appreciation rate in the latest quarter is one of the lowest in America.
Relative to Colorado, our data show that Craig's latest annual appreciation rate is lower than 60% of the other cities and towns in Colorado.
$292,801
for Colorado
for nation
3,806
$1,646 / per month