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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With 22,063 people, 9,243 houses or apartments, and a median cost of homes of $326,318, Foley real estate is some of the most expensive in Alabama, although Foley home values aren't among America's most expensive.
Single-family detached homes are the single most common housing type in Foley, accounting for 71.35% of the city's housing units. Other types of housing that are prevalent in Foley include large apartment complexes or high rise apartments ( 13.77%), duplexes, homes converted to apartments or other small apartment buildings ( 5.94%), and a few mobile homes or trailers ( 5.41%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Foley. Owner-occupied housing accounts for 72.94% of Foley's homes, and 69.25% have either three or four bedrooms, which is average sized relative to America.
Foley homes and real estate are some of the newest in America. 52.87% of Foley's housing was built since 2000, making the city have a very new look and feel. If you like the amenities of newer homes and subdivisions, then you will probably like what the Foley real estate market has to offer. Quite a bit of the housing here was also built between 1970-1999 ( 40.03%), and between 1940-1969 ( 6.31%).
Vacant housing appears to be an issue in Foley. Fully 12.88% of the housing stock is classified as vacant. Left unchecked, vacant Foley homes and apartments can be a drag on the real estate market, holding Foley 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.
In the last 10 years, Foley has experienced some of the highest home appreciation rates of any community in the nation. Foley real estate appreciated 144.77% over the last ten years, which is an average annual home appreciation rate of 9.36%, putting Foley in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Foley definitely has a track record of being one of the best long term real estate investments in America through the last ten years.
Appreciation rates are so strong in Foley that despite a nationwide downturn in the housing market, Foley real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Foley appreciation rates continue to be some of the highest in America, at 19.51%, which is higher than appreciation rates in 98.97% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Foley. Foley appreciation rates in the latest quarter were at 3.37%, which equates to an annual appreciation rate of 14.16%.
Importantly, this makes Foley one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.
Relative to Alabama, our data show that Foley's latest annual appreciation rate is higher than 90% 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 Foley differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Foley - 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 Foley real estate investment or home purchase decisions.
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