Midland City, AL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Midland City, AL Real Estate Data


Midland City Housing Market Information

With 2,386 people, 828 houses or apartments, and a median cost of homes of $75,439, 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

Real estate appreciation rates in Midland City's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.49% during the period.

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 1.82%, 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 -0.53%, which equates to an annual appreciation rate of -2.11%.

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 60% of the other cities and towns in Alabama.

Average Home Values

 

Median Home Value:
$75,439

Midland City, AL HOME PRICES

Value Range
> $1,018,000 0.1
$764,001 - $1,018,000 0.1
$509,001 - $764,000 0.1
$407,001 - $509,000 2.0
$305,001 - $407,000 0.4
$204,001 - $305,000 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
92.9040196882691 83.5

Number Of Homes And Apartments:
828

Rent & Ownership

 

Average Market Rent:
$746 / 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

Midland City Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
AL*
Compared To
America*
Latest Quarter:
2016 Q3 - 2016 Q4
Last 12 Months:
2015 Q4 - 2016 Q4
Last 2 Years:
2014 Q4 - 2016 Q4
Last 5 Years:
2011 Q4 - 2016 Q4
Last 10 Years:
2006 Q4 - 2016 Q4
Since 2000:
2000 Q1 - 2016 Q4
33.65% 1.70% 6 4
* 10 is highest

Popular Neighborhoods in Midland City

Zip Codes in Midland City, AL