Cullman, AL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Cullman, AL Real Estate Data


Cullman Housing Market Information

With a population of 15,350, 6,120 total housing units (homes and apartments), and a median house value of $154,091, Cullman real estate is some of the most expensive in Alabama, although Cullman home values aren't among America's most expensive.

Single-family detached homes are the single most common housing type in Cullman, accounting for 66.23% of the city's housing units. Other types of housing that are prevalent in Cullman include large apartment complexes or high rise apartments ( 18.85%), duplexes, homes converted to apartments or other small apartment buildings ( 10.06%), and a few mobile homes or trailers ( 2.75%).

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 55.41% owning and 44.59% 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 ( 35.98%). A lesser amount of the housing stock also hails from between 2000 and later ( 10.46%). There's also some housing in Cullman built before 1939 ( 3.78%).

Cullman Home Appreciation Rates

Appreciation rates for homes in Cullman have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 7.96%, which ranks in the top 40% nationwide. This equates to an annual average Cullman house appreciation rate of 0.77%.

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 1.40%, 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 -0.19%, which equates to an annual appreciation rate of -0.76%.

Relative to Alabama, our data show that Cullman's latest annual appreciation rate is lower than 60% 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:
$154,091

Cullman, AL HOME PRICES

Value Range
> $1,040,000 0.5
$780,001 - $1,040,000 0.3
$520,001 - $780,000 2.6
$416,001 - $520,000 0.7
$312,001 - $416,000 6.3
$208,001 - $312,000 14.8
$104,001 - $208,000 45.8
$52,001 - $104,000 21.4
$0 - $52,000 7.2

Very High for AL
Average for Nation

Value Relative to Nation Value Relative to State
47.9667174499004 15.0

Number Of Homes And Apartments:
6,120

Rent & Ownership

 

Average Market Rent:
$724 / per month

Homeownership Rate

Homeownership
Owners 55.41
Renters 44.59
Vacant 9.60

Housing Market Details

 

Age of Homes

AGE OF Cullman HOMES
2000 or Newer 10.5
1970 - 1999 49.8
1940 - 1969 36.0
1939 or Older 3.8

Types of Homes

TYPE OF Cullman HOMES
Single-Family 66.2
Townhomes 2.1
Small Apt. Buildings 10.1
Apt. Complexes 18.8
Mobile Homes 2.7
Other 0.0

Home Size

SIZE OF Cullman HOMES
No Bedroom 1.42
1 Bedroom 11.21
2 Bedrooms 32.81
3 Bedrooms 40.69
4 Bedrooms 11.51
5 or more bedrooms 2.36

Cullman Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
AL*
Compared To
America*
Latest Quarter:
2016 Q3 - 2016 Q4
Last 12 Months:
2015 Q4 - 2016 Q4
Last 2 Years:
2014 Q4 - 2016 Q4
Last 5 Years:
2011 Q4 - 2016 Q4
Last 10 Years:
2006 Q4 - 2016 Q4
Since 2000:
2000 Q1 - 2016 Q4
20.02% 1.06% 3 2
* 10 is highest