Andalusia, AL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Andalusia, 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

Andalusia Housing Market Information

With 9,063 people, 3,576 houses or apartments, and a median cost of homes of $140,660, Andalusia real estate and house prices are near the national average for all cities and towns.

Single-family detached homes are the single most common housing type in Andalusia, accounting for 82.72% of the city's housing units. Other types of housing that are prevalent in Andalusia include large apartment complexes or high rise apartments ( 10.06%), duplexes, homes converted to apartments or other small apartment buildings ( 4.83%), and a few mobile homes or trailers ( 2.21%).

The most prevalent building size and type in Andalusia are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 60.15% owning and 39.85% renting.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Andalusia's housing was primarily built during this period, from the '40s through the '60s. A full 39.61% of the city's housing hails from this era. Other housing ages represented in Andalusia include homes built between 1970-1999 ( 39.59%) and housing constructed before 1939 ( 12.81%). There's also some housing in Andalusia built between 2000 and later ( 7.99%).

Vacant housing appears to be an issue in Andalusia. Fully 19.33% of the housing stock is classified as vacant. Left unchecked, vacant Andalusia homes and apartments can be a drag on the real estate market, holding Andalusia 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.

Andalusia Home Appreciation Rates

Appreciation rates for homes in Andalusia have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 13.02%, which ranks in the top 30% nationwide. This equates to an annual average Andalusia house appreciation rate of 1.23%.

NeighborhoodScout's data show that during the latest twelve months, Andalusia's appreciation rate, at 4.03%, has been at or slightly above the national average. In the latest quarter, Andalusia's appreciation rate has been 0.55%, which annualizes to a rate of 2.22%.

Relative to Alabama, our data show that Andalusia's latest annual appreciation rate is higher than 70% of the other cities and towns in Alabama.

Average Home Values

 

Median Home Value:
$140,660

Andalusia, AL HOME PRICES

Value Range
> $1,077,000 1.6
$808,001 - $1,077,000 0.2
$538,001 - $808,000 1.1
$431,001 - $538,000 0.7
$323,001 - $431,000 4.8
$215,001 - $323,000 14.5
$108,001 - $215,000 26.7
$54,001 - $108,000 29.0
$0 - $54,000 21.4

High for AL
Average for Nation

Value Relative to Nation Value Relative to State
54.4474393530997 21.5

Number Of Homes And Apartments:
3,576

Andalusia 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
53.27% 2.51% 10 7
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$847 / per month

Homeownership Rate

Homeownership
Owners 60.15
Renters 39.85
Vacant 19.33

Housing Market Details

 

Age of Homes

AGE OF Andalusia HOMES
2000 or Newer 8.0
1970 - 1999 39.6
1940 - 1969 39.6
1939 or Older 12.8

Types of Homes

TYPE OF Andalusia HOMES
Single-Family 82.7
Townhomes 0.2
Small Apt. Buildings 4.8
Apt. Complexes 10.1
Mobile Homes 2.2
Other 0.0

Home Size

SIZE OF Andalusia HOMES
No Bedroom 1.17
1 Bedroom 4.87
2 Bedrooms 29.91
3 Bedrooms 46.88
4 Bedrooms 14.80
5 or more bedrooms 2.37

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Zip Codes in Andalusia, AL