Fort Payne, AL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Fort Payne Neighborhoods Since 2000




Fort Payne, 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 Q2 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

Fort Payne Housing Market Information

With 14,150 people, 5,186 houses or apartments, and a median cost of homes of $122,177, house prices in Fort Payne are solidly below the national average.

Single-family detached homes are the single most common housing type in Fort Payne, accounting for 72.43% of the city's housing units. Other types of housing that are prevalent in Fort Payne include large apartment complexes or high rise apartments ( 9.87%), mobile homes or trailers ( 9.13%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 8.30%).

The most prevalent building size and type in Fort Payne are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 60.45% owning and 39.55% renting.

There is a lot of housing in Fort Payne 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 Fort Payne built between 1940-1969 ( 27.54%). A lesser amount of the housing stock also hails from between 2000 and later ( 11.39%). There's also some housing in Fort Payne built before 1939 ( 5.98%).

Vacant housing appears to be an issue in Fort Payne. Fully 18.21% of the housing stock is classified as vacant. Left unchecked, vacant Fort Payne homes and apartments can be a drag on the real estate market, holding Fort Payne 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.

Fort Payne Home Appreciation Rates

Real estate appreciation rates in Fort Payne's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.24% during the period.

Over the last year, Fort Payne appreciation rates have trailed the rest of the nation. In the last twelve months, Fort Payne's appreciation rate has been 0.54%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Fort Payne were at -0.55%, which equates to an annual appreciation rate of -2.17%.

Notably, Fort Payne's appreciation rate in the latest quarter is one of the lowest in America.

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

Average Home Values

 

Median Home Value:
$122,177

Fort Payne, AL HOME PRICES

Value Range
> $1,032,000 1.4
$774,001 - $1,032,000 0.4
$516,001 - $774,000 1.2
$413,001 - $516,000 1.3
$310,001 - $413,000 4.5
$206,001 - $310,000 6.5
$103,001 - $206,000 39.3
$52,001 - $103,000 29.3
$0 - $52,000 16.1

High for AL
Low for Nation

Value Relative to Nation Value Relative to State
65.413665905498 35.0

Number Of Homes And Apartments:
5,186

Fort Payne Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
AL*
Compared To
America*
Latest Quarter:
2017 Q1 - 2017 Q2
Last 12 Months:
2016 Q2 - 2017 Q2
Last 2 Years:
2015 Q2 - 2017 Q2
Last 5 Years:
2012 Q2 - 2017 Q2
Last 10 Years:
2007 Q2 - 2017 Q2
Since 2000:
2000 Q1 - 2017 Q2
21.79% 1.13% 2 2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$841 / per month

Homeownership Rate

Homeownership
Owners 60.45
Renters 39.55
Vacant 18.21

Housing Market Details

 

Age of Homes

AGE OF Fort Payne HOMES
2000 or Newer 11.4
1970 - 1999 55.1
1940 - 1969 27.5
1939 or Older 6.0

Types of Homes

TYPE OF Fort Payne HOMES
Single-Family 72.4
Townhomes 0.3
Small Apt. Buildings 8.3
Apt. Complexes 9.9
Mobile Homes 9.1
Other 0.0

Home Size

SIZE OF Fort Payne HOMES
No Bedroom 7.14
1 Bedroom 5.50
2 Bedrooms 25.83
3 Bedrooms 48.13
4 Bedrooms 11.54
5 or more bedrooms 1.85