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
With a population of 35,837, 14,162 total housing units (homes and apartments), and a median house value of $81,411, 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 77.17% of the city's housing units. Other types of housing that are prevalent in Gadsden include large apartment complexes or high rise apartments ( 10.63%), duplexes, homes converted to apartments or other small apartment buildings ( 9.33%), and a few mobile homes or trailers ( 2.14%).
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 56.73% owning and 43.27% 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 52.17% of the city's housing hails from this era. Other housing ages represented in Gadsden include homes built between 1970-1999 ( 23.94%) and housing constructed before 1939 ( 20.39%). There's also some housing in Gadsden built between 2000 and later ( 3.50%).
Vacant housing appears to be an issue in Gadsden. Fully 20.49% 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.
Appreciation rates for homes in Gadsden have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 14.40%, which ranks in the top 30% nationwide. This equates to an annual average Gadsden house appreciation rate of 1.35%.
Appreciation rates are so strong in Gadsden that despite a nationwide downturn in the housing market, Gadsden real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Gadsden appreciation rates continue to be some of the highest in America, at 27.99%, which is higher than appreciation rates in 99.99% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Gadsden. Gadsden appreciation rates in the latest quarter were at 12.32%, which equates to an annual appreciation rate of 59.18%.
Importantly, NeighborhoodScout’s exclusive research found that Gadsden's housing market shows one of the <a href="/blog/highest-appreciating-cities">top real estate appreciation rates in the U.S.A.</a> in the latest quarter, which 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 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 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.
|$894,905 - $1,193,405||0.3|
|$597,010 - $894,904||0.5|
|$477,657 - $597,009||0.6|
|$357,690 - $477,656||2.4|
|$238,707 - $357,689||4.4|
|$119,354 - $238,706||20.1|
|$59,795 - $119,353||34.4|
|$0 - $59,794||36.5|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
2017 Q4 - 2018 Q1
Last 12 Months:
2017 Q1 - 2018 Q1
Last 2 Years:
2016 Q1 - 2018 Q1
Last 5 Years:
2013 Q1 - 2018 Q1
Last 10 Years:
2008 Q1 - 2018 Q1
2000 Q1 - 2018 Q1
|* 10 is highest|
|AGE OF Gadsden HOMES|
|2000 or Newer||3.5|
|1970 - 1999||23.9|
|1940 - 1969||52.2|
|1939 or Older||20.4|
|TYPE OF Gadsden HOMES|
|Small Apt. Buildings||9.3|
|SIZE OF Gadsden HOMES|
|5 or more bedrooms||3.19|