Abbeville, AL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Abbeville, AL Real Estate Data

Source & Methodology

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.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Abbeville Housing Market Information

With 2,620 people, 1,056 houses or apartments, and a median cost of homes of $67,650, house prices in Abbeville are some of the most affordable in Alabama as well as the nation.

Single-family detached homes are the single most common housing type in Abbeville, accounting for 75.32% of the city's housing units. Other types of housing that are prevalent in Abbeville include duplexes, homes converted to apartments or other small apartment buildings ( 9.99%), mobile homes or trailers ( 9.92%), and a few large apartment complexes or high rise apartments ( 4.47%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Abbeville. Owner-occupied housing accounts for 65.68% of Abbeville's homes, and 61.17% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Abbeville built from 1970 to 1999 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 Abbeville built between 1940-1969 ( 37.02%). A lesser amount of the housing stock also hails from before 1939 ( 10.75%). There's also some housing in Abbeville built between 2000 and later ( 4.92%).

Vacant housing appears to be an issue in Abbeville. Fully 20.06% of the housing stock is classified as vacant. Left unchecked, vacant Abbeville homes and apartments can be a drag on the real estate market, holding Abbeville 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.

Abbeville Home Appreciation Rates

Abbeville's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Abbeville during the period has been just -1.74%, which is lower than 80% of US communities.

Over the last year, Abbeville appreciation rates have trailed the rest of the nation. In the last twelve months, Abbeville's appreciation rate has been -0.74%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Abbeville were at -1.69%, which equates to an annual appreciation rate of -6.61%.

Notably, Abbeville's appreciation rate in the latest quarter is one of the lowest in America.

Relative to Alabama, our data show that Abbeville's latest annual appreciation rate is lower than 80% of the other cities and towns in Alabama.

Average Home Values

 

Median Home Value:
$67,650

Abbeville, AL HOME PRICES

Value Range
> $980,000 0.0
$735,001 - $980,000 0.8
$490,001 - $735,000 0.0
$392,001 - $490,000 0.0
$294,001 - $392,000 0.0
$196,001 - $294,000 3.7
$98,001 - $196,000 16.7
$49,001 - $98,000 43.9
$0 - $49,000 34.8

Very Low for AL
Very Low for Nation

Value Relative to Nation Value Relative to State
96.1268018281964 91.25

Number Of Homes And Apartments:
1,056

Abbeville Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
AL*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
19.14% 1.02% 2 2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$643 / per month

Homeownership Rate

Homeownership
Owners 65.68
Renters 34.32
Vacant 20.06

Housing Market Details

 

Age of Homes

AGE OF Abbeville HOMES
2000 or Newer 4.9
1970 - 1999 47.3
1940 - 1969 37.0
1939 or Older 10.7

Types of Homes

TYPE OF Abbeville HOMES
Single-Family 75.3
Townhomes 0.3
Small Apt. Buildings 10.0
Apt. Complexes 4.5
Mobile Homes 9.9
Other 0.0

Home Size

SIZE OF Abbeville HOMES
No Bedroom 3.33
1 Bedroom 4.47
2 Bedrooms 29.30
3 Bedrooms 50.42
4 Bedrooms 10.75
5 or more bedrooms 1.74

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Zip Codes in Abbeville, AL