Enterprise, AL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Enterprise Neighborhoods Since 2000




Enterprise, AL Real Estate Data


Enterprise Housing Market Information

With 27,978 people, 10,280 houses or apartments, and a median cost of homes of $160,017, 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 6.58%, which ranks in the top 40% nationwide. This equates to an annual average Enterprise house appreciation rate of 0.64%.

Appreciation rates are so strong in Enterprise that despite a nationwide downturn in the housing market, Enterprise real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Enterprise appreciation rates continue to be some of the highest in America, at 5.74%, which is higher than appreciation rates in 70.66% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Enterprise. Enterprise appreciation rates in the latest quarter were at 0.87%, which equates to an annual appreciation rate of 3.53%.

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:
$160,017

Enterprise, AL HOME PRICES

Value Range
> $1,041,000 0.5
$781,001 - $1,041,000 0.1
$520,001 - $781,000 0.6
$416,001 - $520,000 1.1
$312,001 - $416,000 5.0
$208,001 - $312,000 24.1
$104,001 - $208,000 44.3
$52,001 - $104,000 17.1
$0 - $52,000 7.1

Very High for AL
Average for Nation

Value Relative to Nation Value Relative to State
45.429508965194 13.0

Number Of Homes And Apartments:
10,280

Rent & Ownership

 

Average Market Rent:
$1,207 / 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

Enterprise 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
45.46% 2.20% 9 6
* 10 is highest