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 6,772 people, 2,601 houses or apartments, and a median cost of homes of $103,303, house prices in Hamilton are solidly below the national average.
Single-family detached homes are the single most common housing type in Hamilton, accounting for 68.18% of the city's housing units. Other types of housing that are prevalent in Hamilton include mobile homes or trailers ( 14.83%), duplexes, homes converted to apartments or other small apartment buildings ( 12.24%), and a few large apartment complexes or high rise apartments ( 4.74%).
The most prevalent building size and type in Hamilton are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 61.82% owning and 38.18% renting.
There is a lot of housing in Hamilton 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 Hamilton built between 1940-1969 ( 25.90%). A lesser amount of the housing stock also hails from between 2000 and later ( 14.23%). There's also some housing in Hamilton built before 1939 ( 4.74%).
Vacant housing appears to be an issue in Hamilton. Fully 12.51% of the housing stock is classified as vacant. Left unchecked, vacant Hamilton homes and apartments can be a drag on the real estate market, holding Hamilton 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 Hamilton have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 4.69%, which ranks in the top 50% nationwide. This equates to an annual average Hamilton house appreciation rate of 0.46%.
Over the last year, Hamilton appreciation rates have trailed the rest of the nation. In the last twelve months, Hamilton's appreciation rate has been 2.84%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Hamilton were at 2.19%, which equates to an annual appreciation rate of 9.03%.
Importantly, this makes Hamilton one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.
Relative to Alabama, our data show that Hamilton's latest annual appreciation rate is lower than 50% of the other cities and towns in Alabama.
|$812,001 - $1,083,000||0.0|
|$541,001 - $812,000||0.0|
|$433,001 - $541,000||1.0|
|$325,001 - $433,000||3.2|
|$217,001 - $325,000||14.2|
|$109,001 - $217,000||19.7|
|$54,001 - $109,000||38.5|
|$0 - $54,000||23.4|
|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 Hamilton HOMES|
|2000 or Newer||14.2|
|1970 - 1999||55.1|
|1940 - 1969||25.9|
|1939 or Older||4.7|
|TYPE OF Hamilton HOMES|
|Small Apt. Buildings||12.2|
|SIZE OF Hamilton HOMES|
|5 or more bedrooms||2.02|