Spanish Fort appreciation rates and housing market information

Spanish Fort housing market information

With 7,503 people, 4,483 houses or apartments, and a median cost of homes of $272,733, Spanish Fort real estate prices are well above average cost compared to national prices.

single-family detached homes are the single most common housing type in Spanish Fort, accounting for 82.47% of the town's housing units. Other types of housing that are prevalent in Spanish Fort include mobile homes or trailers (9.64%), large apartment complexes or high rise apartments (5.00%), and a few duplexes, homes converted to apartments, or other small apartment buildings (2.72%).

Owner-occupied, three and four bedroom single-family detached homes are the most prevalent type of housing you will see in Spanish Fort. Owner-occupied housing accounts for 80.93% of Spanish Fort's homes, and 76.33% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Spanish Fort built from 1970-1994, 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 Spanish Fort built from 1995 and later (34.06%). A lesser amount of the housing stock also hails from 1940-1969 (15.32%), and some were built from 1939 and earlier (15.32%).

Spanish Fort home appreciation rates

In the last 10 years, Spanish Fort has experienced some of the highest home appreciation rates of any community in the nation. Spanish Fort real estate appreciated 116.96% over the last ten years, which is an average annual home appreciation rate of 11.69%, putting Spanish Fort in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Spanish Fort definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

Appreciation rates are so strong in Spanish Fort that despite a nationwide downturn in the housing market, Spanish Fort real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Spanish Fort appreciation rates continue to be some of the highest in America, at 5.36%, which is higher than appreciation rates in 91% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Spanish Fort. Spanish Fort appreciation rates in the latest quarter were at 1.26%, which equates to an annual appreciation rate of 5.04%.

Relative to Alabama, our data show that Spanish Fort's latest annual appreciation rate is higher than 87% of the other cities and towns in Alabama.