Goodwater, AL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Goodwater, AL Real Estate Data


Goodwater Housing Market Information

With 1,343 people, 610 houses or apartments, and a median cost of homes of $71,286, house prices in Goodwater 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 Goodwater, accounting for 58.97% of the town's housing units. Other types of housing that are prevalent in Goodwater include mobile homes or trailers ( 24.77%), duplexes, homes converted to apartments or other small apartment buildings ( 8.65%), and a few large apartment complexes or high rise apartments ( 6.58%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Goodwater. Owner-occupied housing accounts for 70.82% of Goodwater's homes, and 56.90% have either three or four bedrooms, which is average sized relative to America.

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. Goodwater's housing was primarily built during this period, from the '40s through the '60s. A full 43.61% of the town's housing hails from this era. Other housing ages represented in Goodwater include homes built between 1970-1999 ( 34.97%) and housing constructed between 2000 and later ( 14.06%). There's also some housing in Goodwater built before 1939 ( 7.35%).

Vacant housing appears to be an issue in Goodwater. Fully 21.29% of the housing stock is classified as vacant. Left unchecked, vacant Goodwater homes and apartments can be a drag on the real estate market, holding Goodwater 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.

Goodwater Home Appreciation Rates

Real estate appreciation rates in Goodwater's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 0.21% during the period.

Over the last year, Goodwater appreciation rates have trailed the rest of the nation. In the last twelve months, Goodwater's appreciation rate has been 3.83%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Goodwater were at 1.31%, which equates to an annual appreciation rate of 5.35%.

Relative to Alabama, our data show that Goodwater's latest annual appreciation rate is lower than 50% of the other cities and towns in Alabama.

Average Home Values

 

Median Home Value:
$71,286

Goodwater, AL HOME PRICES

Value Range
> $1,057,000 0.0
$793,001 - $1,057,000 0.0
$528,001 - $793,000 0.9
$422,001 - $528,000 0.0
$317,001 - $422,000 3.2
$211,001 - $317,000 2.6
$106,001 - $211,000 21.4
$53,001 - $106,000 34.4
$0 - $53,000 37.5

Very Low for AL
Very Low for Nation

Value Relative to Nation Value Relative to State
95.1806523394039 87.75

Number Of Homes And Apartments:
610

Rent & Ownership

 

Average Market Rent:
$678 / per month

Homeownership Rate

Homeownership
Owners 70.82
Renters 29.18
Vacant 21.29

Housing Market Details

 

Age of Homes

AGE OF Goodwater HOMES
2000 or Newer 14.1
1970 - 1999 35.0
1940 - 1969 43.6
1939 or Older 7.4

Types of Homes

TYPE OF Goodwater HOMES
Single-Family 59.0
Townhomes 1.0
Small Apt. Buildings 8.6
Apt. Complexes 6.6
Mobile Homes 24.8
Other 0.0

Home Size

SIZE OF Goodwater HOMES
No Bedroom 0.00
1 Bedroom 8.65
2 Bedrooms 32.00
3 Bedrooms 47.10
4 Bedrooms 9.81
5 or more bedrooms 2.45

Goodwater Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
AL*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
35.20% 1.79% 7 4
* 10 is highest

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