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 477 people, 238 houses or apartments, and a median cost of homes of $533,312, Westcliffe real estate prices are well above average cost compared to national prices.
Single-family detached homes are the single most common housing type in Westcliffe, accounting for 60.30% of the town's housing units. Other types of housing that are prevalent in Westcliffe include mobile homes or trailers ( 19.70%), duplexes, homes converted to apartments or other small apartment buildings ( 12.24%), and a few large apartment complexes or high rise apartments ( 5.07%).
Dwellings in Westcliffe tend to be quite small (one, two, or no bedrooms) and owner occupied. In fact, 52.24% of the homes in Westcliffe have two or fewer bedrooms.
Westcliffe homes and real estate are some of the newest in America. 34.93% of Westcliffe's housing was built since 2000, making the town have a very new look and feel. If you like the amenities of newer homes and subdivisions, then you will probably like what the Westcliffe real estate market has to offer. Quite a bit of the housing here was also built between 1970-1999 ( 32.54%), and before 1939 ( 29.25%). There's also some housing in Westcliffe built between 1940-1969 ( 3.28%).
Vacant housing appears to be an issue in Westcliffe. Fully 28.96% of the housing stock is classified as vacant. Left unchecked, vacant Westcliffe homes and apartments can be a drag on the real estate market, holding Westcliffe 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, Westcliffe has experienced some of the highest home appreciation rates of any community in the nation. Westcliffe real estate appreciated 116.74% over the last ten years, which is an average annual home appreciation rate of 8.04%, putting Westcliffe in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Westcliffe definitely has a track record of being one of the best long term real estate investments in America through the last ten years.
Over the last year, Westcliffe appreciation rates have trailed the rest of the nation. In the last twelve months, Westcliffe's appreciation rate has been 3.54%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Westcliffe were at -0.63%, which equates to an annual appreciation rate of -2.49%.
Notably, Westcliffe's appreciation rate in the latest quarter is one of the lowest in America.
Relative to Colorado, our data show that Westcliffe's latest annual appreciation rate is higher than 60% of the other cities and towns in Colorado.
$533,312
for Colorado
for nation
238
$1,566 / per month