Hamilton, AL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Hamilton, 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

Hamilton Housing Market Information

With a population of 6,772, 2,601 total housing units (homes and apartments), and a median house value of $100,977, 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.

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 4.86%, which ranks in the top 40% nationwide. This equates to an annual average Hamilton house appreciation rate of 0.48%.

NeighborhoodScout's data show that during the latest twelve months, Hamilton's appreciation rate, at 3.52%, has been at or slightly above the national average. In the latest quarter, Hamilton's appreciation rate has been 0.55%, which annualizes to a rate of 2.22%.

Relative to Alabama, our data show that Hamilton's latest annual appreciation rate is higher than 60% of the other cities and towns in Alabama.

Average Home Values

 

Median Home Value:
$100,977

Hamilton, AL HOME PRICES

Value Range
> $1,059,000 0.0
$794,001 - $1,059,000 0.0
$529,001 - $794,000 0.0
$423,001 - $529,000 1.0
$317,001 - $423,000 3.2
$212,001 - $317,000 14.2
$106,001 - $212,000 19.7
$53,001 - $106,000 38.5
$0 - $53,000 23.4

Average for AL
Low for Nation

Value Relative to Nation Value Relative to State
76.9893355209188 55.0

Number Of Homes And Apartments:
2,601

Hamilton 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
33.45% 1.69% 6 4
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$732 / per month

Homeownership Rate

Homeownership
Owners 61.82
Renters 38.18
Vacant 12.51

Housing Market Details

 

Age of Homes

AGE OF Hamilton HOMES
2000 or Newer 14.2
1970 - 1999 55.1
1940 - 1969 25.9
1939 or Older 4.7

Types of Homes

TYPE OF Hamilton HOMES
Single-Family 68.2
Townhomes 0.0
Small Apt. Buildings 12.2
Apt. Complexes 4.7
Mobile Homes 14.8
Other 0.0

Home Size

SIZE OF Hamilton HOMES
No Bedroom 1.55
1 Bedroom 7.47
2 Bedrooms 31.72
3 Bedrooms 40.30
4 Bedrooms 16.95
5 or more bedrooms 2.02

Popular Neighborhoods in Hamilton

Popular Communities Near Hamilton, AL

Zip Codes in Hamilton, AL