Gadsden, AL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Gadsden, 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 Q4 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2016 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Gadsden Housing Market Information

With 35,837 people, 14,162 houses or apartments, and a median cost of homes of $72,924, 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.

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 0.27% during the period.

NeighborhoodScout's data show that during the latest twelve months, Gadsden's appreciation rate, at 6.29%, has been at or slightly above the national average. In the latest quarter, Gadsden's appreciation rate has been 19.76%, which annualizes to a rate of 105.72%.

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 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 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:
$72,924

Gadsden, AL HOME PRICES

Value Range
> $1,069,000 0.8
$802,001 - $1,069,000 0.3
$535,001 - $802,000 0.5
$428,001 - $535,000 0.6
$321,001 - $428,000 2.4
$214,001 - $321,000 4.4
$107,001 - $214,000 20.1
$53,001 - $107,000 34.4
$0 - $53,000 36.5

Very Low for AL
Very Low for Nation

Value Relative to Nation Value Relative to State
94.866241292513 89.75

Number Of Homes And Apartments:
14,162

Gadsden Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
AL*
Compared To
America*
Latest Quarter:
2017 Q3 - 2017 Q4
Last 12 Months:
2016 Q4 - 2017 Q4
Last 2 Years:
2015 Q4 - 2017 Q4
Last 5 Years:
2012 Q4 - 2017 Q4
Last 10 Years:
2007 Q4 - 2017 Q4
Since 2000:
2000 Q1 - 2017 Q4
29.73%
1.46%
4
3
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$934 / per month

Homeownership Rate

Homeownership
Owners 56.73
Renters 43.27
Vacant 20.49

Housing Market Details

 

Age of Homes

AGE OF Gadsden HOMES
2000 or Newer 3.5
1970 - 1999 23.9
1940 - 1969 52.2
1939 or Older 20.4

Types of Homes

TYPE OF Gadsden HOMES
Single-Family 77.2
Townhomes 0.7
Small Apt. Buildings 9.3
Apt. Complexes 10.6
Mobile Homes 2.1
Other 0.0

Home Size

SIZE OF Gadsden HOMES
No Bedroom 0.58
1 Bedroom 8.11
2 Bedrooms 33.31
3 Bedrooms 43.49
4 Bedrooms 11.31
5 or more bedrooms 3.19