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 about Scout's Real Estate Data
With 3,270 people, 1,265 houses or apartments, and a median cost of homes of $179,126, 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 56.30% of the city's housing units. Other types of housing that are prevalent in Hanceville include large apartment complexes or high rise apartments ( 19.56%), duplexes, homes converted to apartments or other small apartment buildings ( 16.52%), and a few mobile homes or trailers ( 5.73%).
People in Hanceville primarily live in small (one, two or no bedroom) single-family detached homes. Hanceville has a mixture of owner-occupied and renter-occupied housing.
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 2000 and later ( 28.52%). A lesser amount of the housing stock also hails from between 1940-1969 ( 20.50%). There's also some housing in Hanceville built before 1939 ( 4.65%).
Vacant housing appears to be an issue in Hanceville. Fully 14.70% 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.
Real estate appreciation rates in Hanceville's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 6.12% during the period.
NeighborhoodScout's data show that during the latest twelve months, Hanceville's appreciation rate, at 6.13%, has been at or slightly above the national average. In the latest quarter, Hanceville's appreciation rate has been 1.28%, which annualizes to a rate of 5.24%.
Relative to Alabama, our data show that Hanceville's latest annual appreciation rate is higher than 50% of the other cities and towns in Alabama.
$179,126
for Alabama
for nation
1,265
$1,425 / per month