Cullman AL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA



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Cullman, 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 2020. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2018 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Cullman Housing Market Information

With a population of 15,858, 6,177 total housing units (homes and apartments), and a median house value of $162,152, house prices in Cullman are solidly below the national average.

Single-family detached homes are the single most common housing type in Cullman, accounting for 66.43% of the city's housing units. Other types of housing that are prevalent in Cullman include large apartment complexes or high rise apartments ( 18.80%), duplexes, homes converted to apartments or other small apartment buildings ( 10.43%), and a few row houses and other attached homes ( 2.40%).

The most prevalent building size and type in Cullman are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 56.29% owning and 43.71% renting.

There is a lot of housing in Cullman 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 Cullman built between 1940-1969 ( 31.85%). A lesser amount of the housing stock also hails from between 2000 and later ( 14.37%). There's also some housing in Cullman built before 1939 ( 5.98%).

Vacant housing appears to be an issue in Cullman. Fully 11.61% of the housing stock is classified as vacant. Left unchecked, vacant Cullman homes and apartments can be a drag on the real estate market, holding Cullman 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.

Cullman Home Appreciation Rates

Real estate appreciation rates in Cullman's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 1.99% during the period.

Over the last year, Cullman appreciation rates have trailed the rest of the nation. In the last twelve months, Cullman's appreciation rate has been 3.50%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Cullman were at -0.62%, which equates to an annual appreciation rate of -2.47%.

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

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

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Cullman differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Cullman - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Cullman real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$162,152

Cullman, AL HOME PRICES

Value Range
> $1,132,000 0.0
$849,001 - $1,132,000 0.3
$566,001 - $849,000 2.5
$453,001 - $566,000 2.6
$340,001 - $453,000 4.4
$227,001 - $340,000 16.8
$113,001 - $227,000 46.7
$57,001 - $113,000 22.7
$0 - $57,000 3.8

High for AL
Average for Nation

Value Relative to Nation Value Relative to State
55.6905109489051 23.6907730673317

Number Of Homes And Apartments:
6,177

Cullman Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
AL*
Compared To
America*
Latest Quarter:
2020 Q1 - 2020 Q2
Last 12 Months:
2019 Q2 - 2020 Q2
Last 2 Years:
2018 Q2 - 2020 Q2
Last 5 Years:
2015 Q2 - 2020 Q2
Last 10 Years:
2010 Q2 - 2020 Q2
Since 2000:
2000 Q1 - 2020 Q2
39.35% 1.63%
4
2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$812 / per month

Homeownership Rate

Homeownership
Owners 56.29
Renters 43.71
Vacant 11.61

Housing Market Details

 

Age of Homes

AGE OF Cullman HOMES
2000 or Newer 14.4
1970 - 1999 47.8
1940 - 1969 31.9
1939 or Older 6.0

Types of Homes

TYPE OF Cullman HOMES
Single-Family 66.4
Townhomes 2.4
Small Apt. Buildings 10.4
Apt. Complexes 18.8
Mobile Homes 1.9
Other 0.0

Home Size

SIZE OF Cullman HOMES
No Bedroom 1.97
1 Bedroom 10.93
2 Bedrooms 30.80
3 Bedrooms 42.53
4 Bedrooms 10.60
5 or more bedrooms 3.16