Fayette, AL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Fayette Neighborhoods Since 2000




Fayette, 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

Fayette Housing Market Information

With a population of 4,490, 1,884 total housing units (homes and apartments), and a median house value of $86,326, house prices in Fayette are solidly below the national average.

Single-family detached homes are the single most common housing type in Fayette, accounting for 63.46% of the city's housing units. Other types of housing that are prevalent in Fayette include duplexes, homes converted to apartments or other small apartment buildings ( 16.80%), large apartment complexes or high rise apartments ( 12.68%), and a few mobile homes or trailers ( 5.68%).

The most prevalent building size and type in Fayette are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 47.75% owning and 52.25% renting.

There is a lot of housing in Fayette 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 Fayette built between 1940-1969 ( 33.01%). A lesser amount of the housing stock also hails from before 1939 ( 8.24%). There's also some housing in Fayette built between 2000 and later ( 4.90%).

Vacant housing appears to be an issue in Fayette. Fully 13.74% of the housing stock is classified as vacant. Left unchecked, vacant Fayette homes and apartments can be a drag on the real estate market, holding Fayette 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.

Fayette Home Appreciation Rates

Appreciation rates for homes in Fayette have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 5.43%, which ranks in the top 40% nationwide. This equates to an annual average Fayette house appreciation rate of 0.53%.

Appreciation rates are so strong in Fayette that despite a nationwide downturn in the housing market, Fayette real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Fayette appreciation rates continue to be some of the highest in America, at 13.52%, which is higher than appreciation rates in 98.81% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Fayette. Fayette appreciation rates in the latest quarter were at 0.55%, which equates to an annual appreciation rate of 2.22%.

Relative to Alabama, our data show that Fayette's latest annual appreciation rate is higher than 90% of the other cities and towns in Alabama.

Average Home Values

 

Median Home Value:
$86,326

Fayette, AL HOME PRICES

Value Range
> $1,118,000 2.7
$838,001 - $1,118,000 1.3
$559,001 - $838,000 0.1
$447,001 - $559,000 1.3
$335,001 - $447,000 0.0
$224,001 - $335,000 9.2
$112,001 - $224,000 22.0
$56,001 - $112,000 37.0
$0 - $56,000 26.4

Low for AL
Very Low for Nation

Value Relative to Nation Value Relative to State
86.5697878823392 67.5

Number Of Homes And Apartments:
1,884

Fayette 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
24.31% 1.27% 4 3
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$724 / per month

Homeownership Rate

Homeownership
Owners 47.75
Renters 52.25
Vacant 13.74

Housing Market Details

 

Age of Homes

AGE OF Fayette HOMES
2000 or Newer 4.9
1970 - 1999 53.8
1940 - 1969 33.0
1939 or Older 8.2

Types of Homes

TYPE OF Fayette HOMES
Single-Family 63.5
Townhomes 1.4
Small Apt. Buildings 16.8
Apt. Complexes 12.7
Mobile Homes 5.7
Other 0.0

Home Size

SIZE OF Fayette HOMES
No Bedroom 0.46
1 Bedroom 12.59
2 Bedrooms 30.95
3 Bedrooms 44.09
4 Bedrooms 6.73
5 or more bedrooms 5.17

Popular Neighborhoods in Fayette

Zip Codes in Fayette, AL