Hanceville, AL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Hanceville, 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

Hanceville Housing Market Information

With a population of 3,281, 1,210 total housing units (homes and apartments), and a median house value of $97,064, house prices in Hanceville are solidly below the national average.

Single-family detached homes are the single most common housing type in Hanceville, accounting for 56.35% of the city's housing units. Other types of housing that are prevalent in Hanceville include large apartment complexes or high rise apartments ( 22.13%), duplexes, homes converted to apartments or other small apartment buildings ( 12.29%), and a few mobile homes or trailers ( 6.11%).

The most prevalent building size and type in Hanceville are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 42.43% owning and 57.57% renting.

There is a lot of housing in Hanceville 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 Hanceville built between 1940-1969 ( 28.17%). A lesser amount of the housing stock also hails from between 2000 and later ( 17.54%). There's also some housing in Hanceville built before 1939 ( 9.10%).

Vacant housing appears to be an issue in Hanceville. Fully 19.60% of the housing stock is classified as vacant. Left unchecked, vacant Hanceville homes and apartments can be a drag on the real estate market, holding Hanceville 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.

Hanceville Home Appreciation Rates

Hanceville's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Hanceville during the period has been just -0.97%, which is lower than 70% of US communities.

Over the last year, Hanceville appreciation rates have trailed the rest of the nation. In the last twelve months, Hanceville's appreciation rate has been -4.99%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Hanceville were at 0.55%, which equates to an annual appreciation rate of 2.22%.

Relative to Alabama, our data show that Hanceville's latest annual appreciation rate is lower than 90% of the other cities and towns in Alabama.

Average Home Values

 

Median Home Value:
$97,064

Hanceville, AL HOME PRICES

Value Range
> $974,000 0.0
$730,001 - $974,000 0.0
$487,001 - $730,000 3.9
$389,001 - $487,000 2.8
$292,001 - $389,000 3.3
$195,001 - $292,000 2.6
$97,001 - $195,000 31.1
$48,001 - $97,000 39.0
$0 - $48,000 17.3

Average for AL
Low for Nation

Value Relative to Nation Value Relative to State
79.4503691550451 57.75

Number Of Homes And Apartments:
1,210

Hanceville 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
7.32% 0.41% 1 1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$924 / per month

Homeownership Rate

Homeownership
Owners 42.43
Renters 57.57
Vacant 19.60

Housing Market Details

 

Age of Homes

AGE OF Hanceville HOMES
2000 or Newer 17.5
1970 - 1999 45.2
1940 - 1969 28.2
1939 or Older 9.1

Types of Homes

TYPE OF Hanceville HOMES
Single-Family 56.3
Townhomes 3.1
Small Apt. Buildings 12.3
Apt. Complexes 22.1
Mobile Homes 6.1
Other 0.0

Home Size

SIZE OF Hanceville HOMES
No Bedroom 4.32
1 Bedroom 7.97
2 Bedrooms 35.68
3 Bedrooms 44.72
4 Bedrooms 6.64
5 or more bedrooms 0.66

Popular Neighborhoods in Hanceville

Zip Codes in Hanceville, AL