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 a population of 2,386, 828 total housing units (homes and apartments), and a median house value of $75,689, house prices in Midland City are some of the most affordable in Alabama as well as the nation.
Single-family detached homes are the single most common housing type in Midland City, accounting for 58.76% of the town's housing units. Other types of housing that are prevalent in Midland City include duplexes, homes converted to apartments or other small apartment buildings ( 20.12%), large apartment complexes or high rise apartments ( 15.34%), and a few mobile homes or trailers ( 4.58%).
The most prevalent building size and type in Midland City are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 43.12% owning and 56.88% renting.
There is a lot of housing in Midland City 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 Midland City built between 2000 and later ( 24.50%). A lesser amount of the housing stock also hails from between 1940-1969 ( 12.95%). There's also some housing in Midland City built before 1939 ( 7.67%).
Vacant housing appears to be an issue in Midland City. Fully 17.53% of the housing stock is classified as vacant. Left unchecked, vacant Midland City homes and apartments can be a drag on the real estate market, holding Midland City 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.
Midland City's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Midland City during the period has been just -0.70%, which is lower than 70% of US communities.
Over the last year, Midland City appreciation rates have trailed the rest of the nation. In the last twelve months, Midland City's appreciation rate has been 1.03%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Midland City were at -0.55%, which equates to an annual appreciation rate of -2.17%.
Notably, Midland City's appreciation rate in the latest quarter is one of the lowest in America.
Relative to Alabama, our data show that Midland City's latest annual appreciation rate is lower than 70% of the other cities and towns in Alabama.
|$767,001 - $1,022,000||0.1|
|$511,001 - $767,000||0.1|
|$409,001 - $511,000||2.0|
|$306,001 - $409,000||0.4|
|$204,001 - $306,000||6.3|
|$102,001 - $204,000||29.8|
|$51,001 - $102,000||36.0|
|$0 - $51,000||25.3|
|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 Midland City HOMES|
|2000 or Newer||24.5|
|1970 - 1999||54.9|
|1940 - 1969||12.9|
|1939 or Older||7.7|
|TYPE OF Midland City HOMES|
|Small Apt. Buildings||20.1|
|SIZE OF Midland City HOMES|
|5 or more bedrooms||3.09|