Altoona, AL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Altoona, AL Real Estate Data


Altoona Housing Market Information

With 924 people, 317 houses or apartments, and a median cost of homes of $87,231, 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 63.66% of the town's housing units. Other types of housing that are prevalent in Altoona include large apartment complexes or high rise apartments ( 13.17%), duplexes, homes converted to apartments or other small apartment buildings ( 11.71%), and a few mobile homes or trailers ( 10.98%).

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 ( 38.78%). A lesser amount of the housing stock also hails from before 1939 ( 11.71%). There's also some housing in Altoona built between 2000 and later ( 7.07%).

Vacant housing appears to be an issue in Altoona. Fully 22.68% 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

Appreciation rates for homes in Altoona have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 4.71%, which ranks in the top 50% nationwide. This equates to an annual average Altoona house appreciation rate of 0.46%.

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 3.63%, 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 1.21%, which equates to an annual appreciation rate of 4.92%.

Relative to Alabama, our data show that Altoona's latest annual appreciation rate is lower than 60% of the other cities and towns in Alabama.

Average Home Values

 

Median Home Value:
$87,231

Altoona, AL HOME PRICES

Value Range
> $1,042,000 0.0
$781,001 - $1,042,000 0.0
$520,001 - $781,000 0.9
$416,001 - $520,000 0.0
$313,001 - $416,000 3.3
$209,001 - $313,000 9.1
$104,001 - $209,000 28.8
$52,001 - $104,000 35.6
$0 - $52,000 22.3

Low for AL
Very Low for Nation

Value Relative to Nation Value Relative to State
87.0117702172513 68.75

Number Of Homes And Apartments:
317

Rent & Ownership

 

Average Market Rent:
$923 / per month

Homeownership Rate

Homeownership
Owners 51.66
Renters 48.34
Vacant 22.68

Housing Market Details

 

Age of Homes

AGE OF Altoona HOMES
2000 or Newer 7.1
1970 - 1999 42.4
1940 - 1969 38.8
1939 or Older 11.7

Types of Homes

TYPE OF Altoona HOMES
Single-Family 63.7
Townhomes 0.5
Small Apt. Buildings 11.7
Apt. Complexes 13.2
Mobile Homes 11.0
Other 0.0

Home Size

SIZE OF Altoona HOMES
No Bedroom 0.00
1 Bedroom 13.66
2 Bedrooms 35.85
3 Bedrooms 44.39
4 Bedrooms 3.41
5 or more bedrooms 2.68

Altoona Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
AL*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
29.03% 1.51% 5 3
* 10 is highest

Popular Neighborhoods in Altoona

Zip Codes in Altoona, AL