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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more
With a population of 924, 325 total housing units (homes and apartments), and a median house value of $74,537, house prices in Altoona 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 Altoona, accounting for 60.62% of the town's housing units. Other types of housing that are prevalent in Altoona include large apartment complexes or high rise apartments ( 16.47%), mobile homes or trailers ( 13.84%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 8.35%).
People in Altoona primarily live in small (one, two or no bedroom) single-family detached homes. Altoona has a mixture of owner-occupied and renter-occupied housing.
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 ( 36.75%). A lesser amount of the housing stock also hails from before 1939 ( 11.22%). There's also some housing in Altoona built between 2000 and later ( 6.68%).
Vacant housing appears to be an issue in Altoona. Fully 22.43% 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.
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 -0.57% during the period.
Over the last year, Altoona appreciation rates have trailed the rest of the nation. In the last twelve months, Altoona's appreciation rate has been 1.26%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Altoona were at 5.66%, which equates to an annual appreciation rate of 24.65%.
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 lower than 70% of the other cities and towns in Alabama.
|$750,001 - $1,000,000||0.0|
|$500,001 - $750,000||0.0|
|$400,001 - $500,000||0.0|
|$300,001 - $400,000||3.3|
|$200,001 - $300,000||5.5|
|$100,001 - $200,000||26.2|
|$50,001 - $100,000||37.2|
|$0 - $50,000||27.8|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
2017 Q1 - 2017 Q2
Last 12 Months:
2016 Q2 - 2017 Q2
Last 2 Years:
2015 Q2 - 2017 Q2
Last 5 Years:
2012 Q2 - 2017 Q2
Last 10 Years:
2007 Q2 - 2017 Q2
2000 Q1 - 2017 Q2
|* 10 is highest|
|AGE OF Altoona HOMES|
|2000 or Newer||6.7|
|1970 - 1999||45.3|
|1940 - 1969||36.8|
|1939 or Older||11.2|
|TYPE OF Altoona HOMES|
|Small Apt. Buildings||8.4|
|SIZE OF Altoona HOMES|
|5 or more bedrooms||2.86|