Midland City, AL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Midland City Neighborhoods Since 2000




Midland City, 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 Q2 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

Midland City Housing Market Information

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 Home Appreciation Rates

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.

Average Home Values

 

Median Home Value:
$75,689

Midland City, AL HOME PRICES

Value Range
> $1,022,000 0.1
$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

Very Low for AL
Very Low for Nation

Value Relative to Nation Value Relative to State
93.2665846946543 83.75

Number Of Homes And Apartments:
828

Midland City Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
AL*
Compared To
America*
Latest Quarter:
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
Since 2000:
2000 Q1 - 2017 Q2
33.95% 1.68% 6 3
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$767 / per month

Homeownership Rate

Homeownership
Owners 43.12
Renters 56.88
Vacant 17.53

Housing Market Details

 

Age of Homes

AGE OF Midland City HOMES
2000 or Newer 24.5
1970 - 1999 54.9
1940 - 1969 12.9
1939 or Older 7.7

Types of Homes

TYPE OF Midland City HOMES
Single-Family 58.8
Townhomes 1.2
Small Apt. Buildings 20.1
Apt. Complexes 15.3
Mobile Homes 4.6
Other 0.0

Home Size

SIZE OF Midland City HOMES
No Bedroom 2.69
1 Bedroom 12.75
2 Bedrooms 25.10
3 Bedrooms 52.19
4 Bedrooms 4.18
5 or more bedrooms 3.09

Popular Neighborhoods in Midland City

Zip Codes in Midland City, AL