Goodwater, AL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Goodwater, 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 Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

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

Goodwater Housing Market Information

With 1,343 people, 629 houses or apartments, and a median cost of homes of $82,634, 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.

Goodwater Home Appreciation Rates

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 13.20%, which ranks in the top 30% nationwide. This equates to an annual average Goodwater house appreciation rate of 1.25%.

NeighborhoodScout's data show that during the latest twelve months, Goodwater's appreciation rate, at 4.28%, has been at or slightly above the national average. In the latest quarter, Goodwater's appreciation rate has been 0.55%, which annualizes to a rate of 2.22%.

Relative to Alabama, our data show that Goodwater's latest annual appreciation rate is higher than 70% of the other cities and towns in Alabama.

Average Home Values

 

Median Home Value:
$82,634

Goodwater, AL HOME PRICES

Value Range
> $1,071,000 0.0
$803,001 - $1,071,000 0.0
$535,001 - $803,000 0.6
$428,001 - $535,000 0.0
$321,001 - $428,000 3.2
$214,001 - $321,000 2.2
$107,001 - $214,000 27.9
$54,001 - $107,000 34.0
$0 - $54,000 32.0

Low for AL
Very Low for Nation

Value Relative to Nation Value Relative to State
88.7964373608344 72.5

Number Of Homes And Apartments:
629

Goodwater Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
AL*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
48.80% 2.33% 9 6
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$814 / per month

Homeownership Rate

Homeownership
Owners 66.64
Renters 33.36
Vacant 20.08

Housing Market Details

 

Age of Homes

AGE OF Goodwater HOMES
2000 or Newer 10.3
1970 - 1999 49.9
1940 - 1969 34.8
1939 or Older 5.0

Types of Homes

TYPE OF Goodwater HOMES
Single-Family 59.3
Townhomes 0.0
Small Apt. Buildings 9.4
Apt. Complexes 8.5
Mobile Homes 22.7
Other 0.0

Home Size

SIZE OF Goodwater HOMES
No Bedroom 0.00
1 Bedroom 11.94
2 Bedrooms 28.84
3 Bedrooms 45.11
4 Bedrooms 11.82
5 or more bedrooms 2.29

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Zip Codes in Goodwater, AL