Gadsden, AL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Gadsden Neighborhoods Since 2000




Gadsden, AL Real Estate Data


Gadsden Housing Market Information

With 36,084 people, 14,379 houses or apartments, and a median cost of homes of $64,071, house prices in Gadsden are some of the most affordable in Alabama as well as the nation.

Single-family detached homes are the single most common housing type in Gadsden, accounting for 77.27% of the city's housing units. Other types of housing that are prevalent in Gadsden include large apartment complexes or high rise apartments ( 10.33%), duplexes, homes converted to apartments or other small apartment buildings ( 9.08%), and a few mobile homes or trailers ( 2.64%).

The most prevalent building size and type in Gadsden are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 57.72% owning and 42.28% renting.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Gadsden's housing was primarily built during this period, from the '40s through the '60s. A full 52.13% of the city's housing hails from this era. Other housing ages represented in Gadsden include homes built between 1970-1999 ( 24.16%) and housing constructed before 1939 ( 20.22%). There's also some housing in Gadsden built between 2000 and later ( 3.49%).

Vacant housing appears to be an issue in Gadsden. Fully 19.83% of the housing stock is classified as vacant. Left unchecked, vacant Gadsden homes and apartments can be a drag on the real estate market, holding Gadsden 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.

Gadsden Home Appreciation Rates

Real estate appreciation rates in Gadsden's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.03% during the period.

NeighborhoodScout's data show that during the latest twelve months, Gadsden's appreciation rate, at 3.89%, has been at or slightly above the national average. In the latest quarter, Gadsden's appreciation rate has been 1.61%, which annualizes to a rate of 6.59%.

Importantly, this makes Gadsden 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 Gadsden's latest annual appreciation rate is higher than 60% 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 Gadsden differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Gadsden - 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 Gadsden real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$64,071

Gadsden, AL HOME PRICES

Value Range
> $1,041,000 0.1
$781,001 - $1,041,000 0.2
$521,001 - $781,000 0.8
$417,001 - $521,000 0.9
$312,001 - $417,000 1.9
$208,001 - $312,000 5.1
$104,001 - $208,000 19.2
$52,001 - $104,000 34.1
$0 - $52,000 37.1

Very Low for AL
Very Low for Nation

Value Relative to Nation Value Relative to State
96.9764443923591 94.0

Number Of Homes And Apartments:
14,379

Rent & Ownership

 

Average Market Rent:
$862 / per month

Homeownership Rate

Homeownership
Owners 57.72
Renters 42.28
Vacant 19.83

Housing Market Details

 

Age of Homes

AGE OF Gadsden HOMES
2000 or Newer 3.5
1970 - 1999 24.2
1940 - 1969 52.1
1939 or Older 20.2

Types of Homes

TYPE OF Gadsden HOMES
Single-Family 77.3
Townhomes 0.7
Small Apt. Buildings 9.1
Apt. Complexes 10.3
Mobile Homes 2.6
Other 0.0

Home Size

SIZE OF Gadsden HOMES
No Bedroom 0.24
1 Bedroom 8.76
2 Bedrooms 33.38
3 Bedrooms 43.69
4 Bedrooms 11.01
5 or more bedrooms 2.92

Gadsden 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
26.09% 1.35% 4 3
* 10 is highest