Millbrook, AL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Millbrook, AL Real Estate Data


Millbrook Housing Market Information

With a population of 15,314, 5,741 total housing units (homes and apartments), and a median house value of $128,680, house prices in Millbrook are solidly below the national average.

Single-family detached homes are the single most common housing type in Millbrook, accounting for 74.42% of the city's housing units. Other types of housing that are prevalent in Millbrook include large apartment complexes or high rise apartments ( 13.75%), row houses and other attached homes ( 4.27%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 3.82%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Millbrook. Owner-occupied housing accounts for 68.65% of Millbrook's homes, and 73.09% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Millbrook 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 Millbrook built between 2000 and later ( 33.93%). A lesser amount of the housing stock also hails from between 1940-1969 ( 11.60%). There's also some housing in Millbrook built before 1939 ( 1.86%).

Millbrook Home Appreciation Rates

Millbrook's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Millbrook during the period has been just -0.91%, which is lower than 70% of US communities.

Over the last year, Millbrook appreciation rates have trailed the rest of the nation. In the last twelve months, Millbrook's appreciation rate has been 1.04%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Millbrook were at -1.80%, which equates to an annual appreciation rate of -7.02%.

Notably, Millbrook's appreciation rate in the latest quarter is one of the lowest in America.

Relative to Alabama, our data show that Millbrook's latest annual appreciation rate is lower than 70% of the other cities and towns in Alabama.

Average Home Values

 

Median Home Value:
$128,680

Millbrook, AL HOME PRICES

Value Range
> $1,006,000 0.0
$755,001 - $1,006,000 0.0
$503,001 - $755,000 0.0
$403,001 - $503,000 0.6
$302,001 - $403,000 7.5
$201,001 - $302,000 16.9
$101,001 - $201,000 47.8
$50,001 - $101,000 15.1
$0 - $50,000 12.0

High for AL
Low for Nation

Value Relative to Nation Value Relative to State
60.3890776983476 28.75

Number Of Homes And Apartments:
5,741

Rent & Ownership

 

Average Market Rent:
$1,246 / per month

Homeownership Rate

Homeownership
Owners 68.65
Renters 31.35
Vacant 8.63

Housing Market Details

 

Age of Homes

AGE OF Millbrook HOMES
2000 or Newer 33.9
1970 - 1999 52.6
1940 - 1969 11.6
1939 or Older 1.9

Types of Homes

TYPE OF Millbrook HOMES
Single-Family 74.4
Townhomes 4.3
Small Apt. Buildings 3.8
Apt. Complexes 13.8
Mobile Homes 3.7
Other 0.0

Home Size

SIZE OF Millbrook HOMES
No Bedroom 0.35
1 Bedroom 5.38
2 Bedrooms 19.13
3 Bedrooms 51.71
4 Bedrooms 21.38
5 or more bedrooms 2.05

Millbrook 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
19.90% 1.06% 3 2
* 10 is highest

Zip Codes in Millbrook, AL