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 3,281 people, 1,210 houses or apartments, and a median cost of homes of $96,400, the cost of homes in Hanceville is among some of the lowest in the nation. Compared to Alabama, however, Hanceville real state is not on the lower end of the price spectrum.
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'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 -1.14%, which is lower than 80% 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 -3.94%, 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 -2.17%.
Notably, Hanceville's appreciation rate in the latest quarter is one of the lowest in America.
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.
|$725,001 - $967,000||0.0|
|$484,001 - $725,000||3.9|
|$387,001 - $484,000||2.8|
|$290,001 - $387,000||3.3|
|$193,001 - $290,000||2.6|
|$97,001 - $193,000||31.1|
|$48,001 - $97,000||39.0|
|$0 - $48,000||17.3|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
2017 Q1 - 2017 Q2
Last 12 Months:
2016 Q2 - 2017 Q2
Last 2 Years:
2015 Q2 - 2017 Q2
Last 5 Years:
2012 Q2 - 2017 Q2
Last 10 Years:
2007 Q2 - 2017 Q2
2000 Q1 - 2017 Q2
|* 10 is highest|
|AGE OF Hanceville HOMES|
|2000 or Newer||17.5|
|1970 - 1999||45.2|
|1940 - 1969||28.2|
|1939 or Older||9.1|
|TYPE OF Hanceville HOMES|
|Small Apt. Buildings||12.3|
|SIZE OF Hanceville HOMES|
|5 or more bedrooms||0.66|