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 1,343 people, 629 houses or apartments, and a median cost of homes of $84,538, house prices in Goodwater are solidly below the national average.
Single-family detached homes are the single most common housing type in Goodwater, accounting for 59.34% of the town's housing units. Other types of housing that are prevalent in Goodwater include mobile homes or trailers ( 22.74%), duplexes, homes converted to apartments or other small apartment buildings ( 9.40%), and a few large apartment complexes or high rise apartments ( 8.51%).
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 66.64% of Goodwater's homes, and 56.93% have either three or four bedrooms, which is average sized relative to America.
There is a lot of housing in Goodwater 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 Goodwater built between 1940-1969 ( 34.82%). A lesser amount of the housing stock also hails from between 2000 and later ( 10.29%). There's also some housing in Goodwater built before 1939 ( 4.96%).
Vacant housing appears to be an issue in Goodwater. Fully 20.08% 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.
Appreciation rates for homes in Goodwater have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 12.63%, which ranks in the top 30% nationwide. This equates to an annual average Goodwater house appreciation rate of 1.20%.
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 2.90%, 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 2.19%, which equates to an annual appreciation rate of 9.03%.
Importantly, this makes Goodwater one of the highest appreciating communities in the nation for the latest quarter, and may signal the town's near-future real estate investment strength.
Relative to Alabama, our data show that Goodwater's latest annual appreciation rate is higher than 50% of the other cities and towns in Alabama.
|$822,001 - $1,096,000||0.0|
|$548,001 - $822,000||0.6|
|$438,001 - $548,000||0.0|
|$329,001 - $438,000||3.2|
|$219,001 - $329,000||2.2|
|$110,001 - $219,000||27.9|
|$55,001 - $110,000||34.0|
|$0 - $55,000||32.0|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
2017 Q2 - 2017 Q3
Last 12 Months:
2016 Q3 - 2017 Q3
Last 2 Years:
2015 Q3 - 2017 Q3
Last 5 Years:
2012 Q3 - 2017 Q3
Last 10 Years:
2007 Q3 - 2017 Q3
2000 Q1 - 2017 Q3
|* 10 is highest|
|AGE OF Goodwater HOMES|
|2000 or Newer||10.3|
|1970 - 1999||49.9|
|1940 - 1969||34.8|
|1939 or Older||5.0|
|TYPE OF Goodwater HOMES|
|Small Apt. Buildings||9.4|
|SIZE OF Goodwater HOMES|
|5 or more bedrooms||2.29|