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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Altoona, AL Real Estate Market

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 Q4 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Altoona, AL Housing Market Trends

With a population of 941, 458 total housing units (homes and apartments), and a median house value of $179,407, house prices in Altoona are solidly below the national average.

Single-family detached homes are the single most common housing type in Altoona, accounting for 59.51% of the town's housing units. Other types of housing that are prevalent in Altoona include mobile homes or trailers ( 18.31%), large apartment complexes or high rise apartments ( 12.68%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 9.51%).

The most prevalent building size and type in Altoona are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 61.36% owning and 38.64% renting.

There is a lot of housing in Altoona 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 Altoona built between 1940-1969 ( 29.23%). A lesser amount of the housing stock also hails from between 2000 and later ( 14.44%). There's also some housing in Altoona built before 1939 ( 10.74%).

Vacant housing appears to be an issue in Altoona. Fully 19.37% of the housing stock is classified as vacant. Left unchecked, vacant Altoona homes and apartments can be a drag on the real estate market, holding Altoona 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.

Altoona Home Appreciation Rates

Real estate appreciation rates in Altoona's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 5.89% during the period.

Appreciation rates are so strong in Altoona that despite a nationwide downturn in the housing market, Altoona real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Altoona appreciation rates continue to be some of the highest in America, at 9.22%, which is higher than appreciation rates in 92.38% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Altoona. Altoona appreciation rates in the latest quarter were at 10.52%, which equates to an annual appreciation rate of 49.21%.

Importantly, this makes Altoona one of the highest appreciating communities in the nation for the latest quarter, and may signal the town's near-future real estate investment strength.

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

Average Home Values

Median Home Value

$179,407

Altoona, AL Home Prices
> $1,413,000
$1,060,001 - $1,413,000
$707,001 - $1,060,000
$565,001 - $707,000
$424,001 - $565,000
$282,001 - $424,000
$141,001 - $282,000
$71,001 - $141,000
$0 - $71,000
1.2%
1.2%
0.2%
0.2%
0.9%
0.9%
2.3%
2.3%
1.8%
1.8%
17.4%
17.4%
31.2%
31.2%
19.5%
19.5%
25.5%
25.5%
0% 100.0%
% of Homes
Average

for Alabama

Low

for nation

Number of Homes And Apartments:

458

Altoona Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,123 / per month

Homeownership Rate

Owners
Renters
61.4%
61.4%
38.6%
38.6%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
19.4%
19.4%
80.6%
80.6%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
14.4%
14.4%
45.6%
45.6%
29.2%
29.2%
10.7%
10.7%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
59.5%
59.5%
0.0%
0.0%
9.5%
9.5%
12.7%
12.7%
18.3%
18.3%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
0.0%
0.0%
10.2%
10.2%
38.0%
38.0%
36.4%
36.4%
14.8%
14.8%
0.5%
0.5%
0% 100.0%
% of Homes