Wetumpka appreciation rates and housing market information

Wetumpka housing market information

With 5,850 people, 2,249 houses or apartments, and a median cost of homes of $133,700, house prices in Wetumpka are solidly below the national average.

single-family detached homes are the single most common housing type in Wetumpka, accounting for 67.27% of the city's housing units. Other types of housing that are prevalent in Wetumpka include large apartment complexes or high rise apartments (13.52%), duplexes, homes converted to apartments, or other small apartment buildings (10.09%), mobile homes or trailers (7.03%), and a few row houses and other attached homes (2.09%).

The most prevalent building size and type in Wetumpka are three and four bedroom single-family detached homes. The city has a mixture of owners and renters, with 54.91% owning, and 29.61% renting.

There is a lot of housing in Wetumpka 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 Wetumpka built from 1940-1969 (34.15%). A lesser amount of the housing stock also hails from 1995 and later (19.34%), and some were built from 1939 and earlier (19.34%).

Vacant housing appears to be an issue in Wetumpka. Fully 15.48% of the housing stock is classified as vacant. Left unchecked, vacant Wetumpka homes and apartments can be a drag on the real estate market, holding Wetumpka 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.

Wetumpka home appreciation rates

Real estate appreciation rates in Wetumpka have tracked to near the national average over the last ten years, with the annual appreciation rate averaging 7.03% during the period.

NeighborhoodScout's data show that during the latest twelve months, Wetumpka home appreciation rates, at 3.82%, have been at or slightly above the national average. In the latest quarter, Wetumpka's appreciation rate has been 0.22%, which annualizes to a rate of 0.88%.

Relative to Alabama, our data show that Wetumpka's latest annual appreciation rate is higher than 34% of the other cities and towns in Alabama.