Enterprise, AL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
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Highest Appreciating Enterprise Neighborhoods Since 2000




Enterprise, 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

Enterprise Housing Market Information

With 27,978 people, 10,280 houses or apartments, and a median cost of homes of $160,845, Enterprise real estate is some of the most expensive in Alabama, although Enterprise home values aren't among America's most expensive.

Single-family detached homes are the single most common housing type in Enterprise, accounting for 73.94% of the city's housing units. Other types of housing that are prevalent in Enterprise include large apartment complexes or high rise apartments ( 9.45%), duplexes, homes converted to apartments or other small apartment buildings ( 8.86%), and a few row houses and other attached homes ( 6.14%).

The most prevalent building size and type in Enterprise are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 59.97% owning and 40.03% renting.

There is a lot of housing in Enterprise 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 Enterprise built between 2000 and later ( 29.32%). A lesser amount of the housing stock also hails from between 1940-1969 ( 21.99%). There's also some housing in Enterprise built before 1939 ( 1.51%).

Vacant housing appears to be an issue in Enterprise. Fully 15.85% of the housing stock is classified as vacant. Left unchecked, vacant Enterprise homes and apartments can be a drag on the real estate market, holding Enterprise 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.

Enterprise Home Appreciation Rates

Appreciation rates for homes in Enterprise have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 5.15%, which ranks in the top 40% nationwide. This equates to an annual average Enterprise house appreciation rate of 0.50%.

NeighborhoodScout's data show that during the latest twelve months, Enterprise's appreciation rate, at 5.04%, has been at or slightly above the national average. In the latest quarter, Enterprise's appreciation rate has been 0.55%, which annualizes to a rate of 2.22%.

Relative to Alabama, our data show that Enterprise's latest annual appreciation rate is higher than 80% 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 Enterprise differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Enterprise - 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 Enterprise real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$160,845

Enterprise, AL HOME PRICES

Value Range
> $1,046,000 0.5
$785,001 - $1,046,000 0.1
$523,001 - $785,000 0.6
$419,001 - $523,000 1.1
$314,001 - $419,000 5.0
$209,001 - $314,000 24.1
$105,001 - $209,000 44.3
$52,001 - $105,000 17.1
$0 - $52,000 7.1

Very High for AL
Average for Nation

Value Relative to Nation Value Relative to State
45.3123168873784 12.0

Number Of Homes And Apartments:
10,280

Enterprise 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
46.01% 2.22% 9 6
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,247 / per month

Homeownership Rate

Homeownership
Owners 59.97
Renters 40.03
Vacant 15.85

Housing Market Details

 

Age of Homes

AGE OF Enterprise HOMES
2000 or Newer 29.3
1970 - 1999 47.2
1940 - 1969 22.0
1939 or Older 1.5

Types of Homes

TYPE OF Enterprise HOMES
Single-Family 73.9
Townhomes 6.1
Small Apt. Buildings 8.9
Apt. Complexes 9.4
Mobile Homes 1.6
Other 0.0

Home Size

SIZE OF Enterprise HOMES
No Bedroom 0.70
1 Bedroom 4.75
2 Bedrooms 20.56
3 Bedrooms 54.54
4 Bedrooms 15.32
5 or more bedrooms 4.13