Boaz, AL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Boaz Neighborhoods Since 2000




Boaz, 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 Q2 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

Boaz Housing Market Information

With 9,688 people, 3,334 houses or apartments, and a median cost of homes of $137,329, house prices in Boaz are solidly below the national average.

Single-family detached homes are the single most common housing type in Boaz, accounting for 78.85% of the city's housing units. Other types of housing that are prevalent in Boaz include large apartment complexes or high rise apartments ( 8.33%), duplexes, homes converted to apartments or other small apartment buildings ( 5.60%), and a few mobile homes or trailers ( 5.49%).

The most prevalent building size and type in Boaz are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 61.54% owning and 38.46% renting.

There is a lot of housing in Boaz 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 Boaz built between 1940-1969 ( 37.26%). A lesser amount of the housing stock also hails from between 2000 and later ( 9.49%). There's also some housing in Boaz built before 1939 ( 7.09%).

Vacant housing appears to be an issue in Boaz. Fully 12.40% of the housing stock is classified as vacant. Left unchecked, vacant Boaz homes and apartments can be a drag on the real estate market, holding Boaz 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.

Boaz Home Appreciation Rates

Real estate appreciation rates in Boaz's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 0.02% during the period.

NeighborhoodScout's data show that during the latest twelve months, Boaz's appreciation rate, at 4.69%, has been at or slightly above the national average. In the latest quarter, Boaz's appreciation rate has been 0.19%, which annualizes to a rate of 0.75%.

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

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

Average Home Values

 

Median Home Value:
$137,329

Boaz, AL HOME PRICES

Value Range
> $1,107,000 0.1
$830,001 - $1,107,000 0.7
$553,001 - $830,000 1.7
$443,001 - $553,000 0.8
$332,001 - $443,000 4.8
$221,001 - $332,000 8.9
$111,001 - $221,000 36.7
$55,001 - $111,000 34.9
$0 - $55,000 11.4

High for AL
Average for Nation

Value Relative to Nation Value Relative to State
57.4067568358803 24.25

Number Of Homes And Apartments:
3,334

Boaz Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
AL*
Compared To
America*
Latest Quarter:
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
Since 2000:
2000 Q1 - 2017 Q2
25.35% 1.30% 4 2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$993 / per month

Homeownership Rate

Homeownership
Owners 61.54
Renters 38.46
Vacant 12.40

Housing Market Details

 

Age of Homes

AGE OF Boaz HOMES
2000 or Newer 9.5
1970 - 1999 46.2
1940 - 1969 37.3
1939 or Older 7.1

Types of Homes

TYPE OF Boaz HOMES
Single-Family 78.8
Townhomes 1.7
Small Apt. Buildings 5.6
Apt. Complexes 8.3
Mobile Homes 5.5
Other 0.0

Home Size

SIZE OF Boaz HOMES
No Bedroom 0.39
1 Bedroom 5.70
2 Bedrooms 23.70
3 Bedrooms 54.41
4 Bedrooms 13.06
5 or more bedrooms 2.73