Hanceville, AL Real Estate Market

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 2021. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Hanceville, AL Housing Market Trends

With 3,461 people, 1,263 houses or apartments, and a median cost of homes of $109,526, 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 66.00% of the city's housing units. Other types of housing that are prevalent in Hanceville include large apartment complexes or high rise apartments ( 21.58%), duplexes, homes converted to apartments or other small apartment buildings ( 8.68%), and a few mobile homes or trailers ( 2.27%).

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 51.02% owning and 48.98% 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 ( 29.39%). A lesser amount of the housing stock also hails from between 2000 and later ( 19.37%). There's also some housing in Hanceville built before 1939 ( 4.68%).

Vacant housing appears to be an issue in Hanceville. Fully 15.63% 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 1.61%, which is lower than 80% of US communities.

Appreciation rates are so strong in Hanceville that despite a nationwide downturn in the housing market, Hanceville real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Hanceville appreciation rates continue to be some of the highest in America, at 11.52%, which is higher than appreciation rates in 95.72% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Hanceville. Hanceville appreciation rates in the latest quarter were at 1.91%, which equates to an annual appreciation rate of 7.88%.

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

Average Home Values

 

Median Home Value:
$109,526

Hanceville, AL HOME PRICES

> $1,140,000
0.0%
0.0%
$855,001 - $1,140,000
0.0%
0.0%
$570,001 - $855,000
2.9%
2.9%
$456,001 - $570,000
1.6%
1.6%
$342,001 - $456,000
1.5%
1.5%
$228,001 - $342,000
11.7%
11.7%
$114,001 - $228,000
31.6%
31.6%
$57,001 - $114,000
35.9%
35.9%
$0 - $57,000
14.8%
14.8%
0.0% 100.0%
% OF HOMES
Value Relative To State

Very Low for Nation

Low for AL

Value Relative To Nation

Number Of Homes And Apartments:
1,263

Hanceville Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
AL*
Compared To
America*
Latest Quarter:
2020 Q4 - 2021 Q1
Last 12 Months:
2020 Q1 - 2021 Q1
Last 2 Years:
2019 Q1 - 2021 Q1
Last 5 Years:
2016 Q1 - 2021 Q1
Last 10 Years:
2011 Q1 - 2021 Q1
Since 2000:
2000 Q1 - 2021 Q1
37.09% 1.50%
2
1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$915 / per month

Homeownership Rate

Owners
51.0%
51.0%
Renters
49.0%
49.0%
Vacant
15.6%
15.6%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
19.4%
19.4%
1970 - 1999
46.6%
46.6%
1940 - 1969
29.4%
29.4%
1939 or Older
4.7%
4.7%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
66.0%
66.0%
Townhomes
1.5%
1.5%
Small Apt. Buildings
8.7%
8.7%
Apt. Complexes
21.6%
21.6%
Mobile Homes
2.3%
2.3%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
2.2%
2.2%
1 Bedroom
15.1%
15.1%
2 Bedrooms
23.0%
23.0%
3 Bedrooms
49.4%
49.4%
4 Bedrooms
10.3%
10.3%
5 or more bedrooms
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Popular Neighborhoods in Hanceville

Zip Codes in Hanceville, AL