Hamilton, AL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Hamilton, AL Real Estate Data


Hamilton Housing Market Information

With a population of 6,772, 2,556 total housing units (homes and apartments), and a median house value of $86,497, 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 69.71% of the city's housing units. Other types of housing that are prevalent in Hamilton include mobile homes or trailers ( 15.37%), duplexes, homes converted to apartments or other small apartment buildings ( 9.63%), and a few large apartment complexes or high rise apartments ( 5.28%).

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 62.65% owning and 37.35% 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 ( 25.87%). A lesser amount of the housing stock also hails from between 2000 and later ( 12.21%). There's also some housing in Hamilton built before 1939 ( 4.59%).

Vacant housing appears to be an issue in Hamilton. Fully 15.67% 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.

Hamilton Home Appreciation Rates

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 8.78%, which ranks in the top 40% nationwide. This equates to an annual average Hamilton house appreciation rate of 0.85%.

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 3.80%, 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 1.31%, which equates to an annual appreciation rate of 5.35%.

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.

Average Home Values

 

Median Home Value:
$86,497

Hamilton, AL HOME PRICES

Value Range
> $1,061,000 0.0
$796,001 - $1,061,000 0.0
$530,001 - $796,000 0.0
$424,001 - $530,000 0.6
$318,001 - $424,000 1.2
$212,001 - $318,000 11.4
$106,001 - $212,000 21.7
$53,001 - $106,000 37.7
$0 - $53,000 27.4

Low for AL
Very Low for Nation

Value Relative to Nation Value Relative to State
87.4919482344674 69.5

Number Of Homes And Apartments:
2,556

Rent & Ownership

 

Average Market Rent:
$838 / per month

Homeownership Rate

Homeownership
Owners 62.65
Renters 37.35
Vacant 15.67

Housing Market Details

 

Age of Homes

AGE OF Hamilton HOMES
2000 or Newer 12.2
1970 - 1999 57.3
1940 - 1969 25.9
1939 or Older 4.6

Types of Homes

TYPE OF Hamilton HOMES
Single-Family 69.7
Townhomes 0.0
Small Apt. Buildings 9.6
Apt. Complexes 5.3
Mobile Homes 15.4
Other 0.0

Home Size

SIZE OF Hamilton HOMES
No Bedroom 1.45
1 Bedroom 5.21
2 Bedrooms 30.12
3 Bedrooms 47.67
4 Bedrooms 14.15
5 or more bedrooms 1.39

Hamilton 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
36.23% 1.84% 7 4
* 10 is highest

Popular Neighborhoods in Hamilton

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Zip Codes in Hamilton, AL