With a population of 2,894, Tularosa, New Mexico is a little town with a great community feel. The town got its name from the rosy red reeds that grew by the Tularosa River, and until recently the annual Rose Festival was held in celebration of them.
With its balmy climate, temperate winters and stunning views, the town of Tularosa NM is popular with families and those seeking affordable accommodation. So, what’s the housing market like in this part of the country? Keep reading to find out more.
Type of Housing in Tularosa NM
Houses are by far the most popular type of accommodation in Tularosa NM county. Homes are often well-proportioned and spacious, with heaps of light and stunning mountain views.
There’s a rich diversity in the types of architecture available in the area, too. Homes vary in shape, size and layout, and are often equipped with porches, swimming pools and large outdoor spaces for kids and animals.
The average family-sized house price in the town is around the $92,500 mark, and as family homes are widely available, it’s a great place for blossoming households to settle down.
While houses are the most popular option among homebuyers and renters alike, there are some condominiums available if you keep an eye out. With 96% of the population living in Tularosa’s urban areas, close to town is where it’s at.
Cost of Housing
Whether you’re renting or buying, Tularosa is more affordable than the US average. If you’re looking for a cozy lifestyle on a budget, then Tularosa New Mexico may just be the place for you.
If you’re thinking about buying a property in this sweet New Mexico town, then you’ll have some great options at a variety of prices. 3 bed, 2 bathroom homes are perfect for single families and growing ones.
A 3 bed, 2 bathroom home will cost you around the county average, while larger homes, farms, and ranches will set you back up to $650,000 or more. There are also sizable plots of land available — perfect for building that dream house.
It costs less to rent in Tularosa New Mexico than the average US rental, or even other homes in New Mexico. A studio will set you back around $580 compared to $980 across the rest of the United States.
And a 4-bedroom house will cost in the region of $1,600 — a whopping $300 less than the average American rental of the same size.
Tularosa and its big sister town, Alamogordo, cost pretty much the same in rental prices. But with its snug and cozy feel, and its undisputed beauty, Tularosa comes off the winner among many potential renters.
There are rental properties available in town, and so it is possible for investors to buy and rent out Tularosa real estate. Over the last year, the number of renters increased by 400%!
Still, the increased demand resulted in a fall in the cost of rent. With the steep drop in rental prices in the last 12 months, investors may want to look to larger towns for their buy-to-rent opportunities.
Schools in Tularosa New Mexico
There are 3 schools in Tularosa, and they’re hot on education for their students. The average spend per student in the United States is $12,383 per student. Well, Tularosa NM beats that figure by over $1,000 at $13,456 per student.
And the results are evident in the town’s high school graduation rate. 82% of Tularosa students graduate from high school, which is a little higher than the US average.
With the town’s housing stock and community feel, Tularosa NM county is a place where parents come to raise their families. Kids need a good sense of space and room to run around, which the Tularosa real estate market offers in bucketloads.
There’s a good standard of living in the area, too, with the cost of groceries below the US average, and the utility prices around the national average. And healthcare costs a little less here, too, meaning the potential for happy, healthy families for years to come.
Things to Do
A real estate market is affected by local amenities, and Tularosa has some great things to get out and see in the local area. There are a number of eateries serving delicious, quality fare, and museums and craft shops to get a good dose of local culture.
There are vineyards and wineries to explore, and an ancient petroglyph site that can’t be missed. And for food- and education-lovers, factory tours for various nut and other food production industries can be taken.
Tularosa is a favorite for RV-users, and there are a few RV sites available for road-trip enthusiasts. The fact that people from all over America want to visit this gorgeous town ensconced in mountain ranges tells you there’s a lot to do in this New Mexico town.
How the Housing Market in Tularosa NM Looks in 2019
It’s become apparent that a shift in the US real estate market as a whole may be a very real possibility for next year. House prices across the nation may see a slow in home-price appreciation, Tularosa included.
Supply vs Demand
It’s the old supply/demand adage: when the huge supply of a particular good or service floods a market, the demand for the good or service goes down. So, what does that mean for US real estate?
Well, in the last 3 years, the number of homes for sale gone up, meaning that there are now more homes on the market now than in 2015. As a result, the rate of increase in property value is likely to slow down, as the demand for homes and property are more than met.
Don’t worry though, that doesn’t spell bad news if you’re looking to buy a home in Tularosa NM, or anywhere, for that matter. While the rate of property appreciation may slow down, it’ll likely result in a more natural balance of real estate prices, rather than a crash.
Thinking of Moving to Tularosa NM?
If the answer’s yes, then now’s as good a time as any. Property prices are affordable, and families love the space and feel of Tularosa NM. There are places to visit, good schools, and a great quality of living, even on a budget.
If you’re looking to buy or rent in Tularosa, then you’ve picked a great town. Want to know how to find the home you’re looking for? Why not contact us and see how we can help.
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