2011 – 2015 new mexico consolidated plan for housing and ...
2011 – 2015 new mexico consolidated plan for housing and ...
2011 – 2015 new mexico consolidated plan for housing and ...
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IV. Housing Market Analysis<br />
The Census Bureau estimates homeownership rates annually. These data on<br />
homeownership rates are presented in Diagram IV.1, below. This diagram compares<br />
homeownership rates <strong>for</strong> New Mexico <strong>and</strong> the U.S. from 1984 through 2009 <strong>and</strong> shows<br />
that New Mexico had consistently higher homeownership rates over this time as compared<br />
to national figures.<br />
74.0<br />
Diagram IV.1<br />
Homeownership Rates<br />
State of New Mexico vs. U.S.<br />
Census Data, 1984 - 2009<br />
Homeownership Rate<br />
72.0<br />
70.0<br />
68.0<br />
66.0<br />
64.0<br />
62.0<br />
60.0<br />
84 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 00 01 02 03 04 05 06 07 08 09<br />
New Mexico<br />
U.S.<br />
VACANT HOUSING<br />
In terms of the 102,608 vacant <strong>housing</strong> units counted in<br />
the 2000 census, many of these units were <strong>for</strong> rent, 26,758<br />
units, or <strong>for</strong> sale, 12,175 units. A significant number,<br />
35,256, were also <strong>for</strong> seasonal, recreational or occasional<br />
use <strong>and</strong> 6,022 were rented or sold but not occupied. An<br />
additional 21,974 units were considered “other vacant”<br />
units, which usually refers to units that are unsuitable <strong>for</strong><br />
habitation. Other vacant units can represent problems <strong>for</strong><br />
communities because these units are not available to the<br />
marketplace <strong>and</strong> often have a blighting influence on the<br />
surrounding areas.<br />
Table IV.4<br />
Disposition of Vacant Housing<br />
Units<br />
State of New Mexico<br />
2000 Census SF3 Data<br />
Disposition<br />
Total<br />
For Rent 26,758<br />
For Sale 12,175<br />
Rented or Sold, Not Occupied 6,022<br />
For Seasonal, Recreational,<br />
or Occasional Use<br />
35,256<br />
For Migrant Workers 423<br />
Other Vacant 21,974<br />
Total 102,608<br />
More recent in<strong>for</strong>mation on <strong>housing</strong> vacancy rates, as drawn from annual Census Bureau<br />
surveys, is presented on the following page in Diagram IV.2. This diagram shows that<br />
vacancy rates <strong>for</strong> owner-occupied <strong>housing</strong> have fluctuated greatly in the last 25 years,<br />
sometimes exceeding <strong>and</strong> sometimes falling lower than national rates. Since 2007, New<br />
Mexico owner-occupied home vacancy rates have fallen while national rates have<br />
remained steady.<br />
New Mexico<br />
Draft Report <strong>for</strong> Public Review<br />
Five-Year Consolidated Plan 44 September 1, 2010
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