Tallassee appreciation rates and housing market information

Tallassee housing market information

With a population of 4,646, 2,261 total housing units (homes and apartments), and a median house value of $90,600,

single-family detached homes are the single most common housing type in Tallassee, accounting for 76.16% of the city's housing units. Other types of housing that are prevalent in Tallassee include large apartment complexes or high rise apartments (8.14%), duplexes, homes converted to apartments, or other small apartment buildings (6.63%), mobile homes or trailers (6.55%), and a few row houses and other attached homes (2.52%).

The most prevalent building size and type in Tallassee are three and four bedroom single-family detached homes. The city has a mixture of owners and renters, with 56.61% owning, and 32.46% renting.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Tallassee's housing was primarily built during this period, from the '40s through the '60s. A full 41.13% of the city's housing hails from this era. Other housing ages represented in Tallassee include homes built between 1939 and earlier (28.22%), and housing constructed from 1970-1994 (26.80%). There's also some housing in Tallassee built between 1995 and later (3.85%).

Vacant housing appears to be an issue in Tallassee. Fully 10.93% of the housing stock is classified as vacant. Left unchecked, vacant Tallassee homes and apartments can be a drag on the real estate market, holding Tallassee 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.

Tallassee home appreciation rates

Real estate appreciation rates in Tallassee have tracked to near the national average over the last ten years, with the annual appreciation rate averaging 7.88% during the period.

Appreciation rates are so strong in Tallassee that despite a nationwide downturn in the housing market, Tallassee real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Tallassee appreciation rates continue to be some of the highest in America, at 4.68%, which is higher than appreciation rates in 74% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Tallassee. Tallassee appreciation rates in the latest quarter were at 0.43%, which equates to an annual appreciation rate of 1.72%.

Relative to Alabama, our data show that Tallassee's latest annual appreciation rate is higher than 47% of the other cities and towns in Alabama.