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 6,110, 2,093 total housing units (homes and apartments), and a median house value of $121,754, house prices in Monroeville are solidly below the national average.
Single-family detached homes are the single most common housing type in Monroeville, accounting for 70.80% of the city's housing units. Other types of housing that are prevalent in Monroeville include large apartment complexes or high rise apartments ( 13.93%), duplexes, homes converted to apartments or other small apartment buildings ( 10.73%), and a few mobile homes or trailers ( 3.98%).
The most prevalent building size and type in Monroeville are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 59.28% owning and 40.72% renting.
There is a lot of housing in Monroeville 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 Monroeville built between 1940-1969 ( 18.81%). A lesser amount of the housing stock also hails from before 1939 ( 4.22%). There's also some housing in Monroeville built between 2000 and later ( 3.75%).
Vacant housing appears to be an issue in Monroeville. Fully 18.31% of the housing stock is classified as vacant. Left unchecked, vacant Monroeville homes and apartments can be a drag on the real estate market, holding Monroeville 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.
Appreciation rates for homes in Monroeville have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 4.91%, which ranks in the top 50% nationwide. This equates to an annual average Monroeville house appreciation rate of 0.48%.
Over the last year, Monroeville appreciation rates have trailed the rest of the nation. In the last twelve months, Monroeville's appreciation rate has been 3.84%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Monroeville were at 2.19%, which equates to an annual appreciation rate of 9.04%.
Importantly, this makes Monroeville one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.
Relative to Alabama, our data show that Monroeville's latest annual appreciation rate is higher than 70% of the other cities and towns in Alabama.
|$847,001 - $1,129,000||0.0|
|$564,001 - $847,000||0.0|
|$452,001 - $564,000||0.5|
|$339,001 - $452,000||1.3|
|$226,001 - $339,000||10.1|
|$113,001 - $226,000||38.7|
|$56,001 - $113,000||23.4|
|$0 - $56,000||25.6|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
2017 Q2 - 2017 Q3
Last 12 Months:
2016 Q3 - 2017 Q3
Last 2 Years:
2015 Q3 - 2017 Q3
Last 5 Years:
2012 Q3 - 2017 Q3
Last 10 Years:
2007 Q3 - 2017 Q3
2000 Q1 - 2017 Q3
|* 10 is highest|
|AGE OF Monroeville HOMES|
|2000 or Newer||3.7|
|1970 - 1999||73.2|
|1940 - 1969||18.8|
|1939 or Older||4.2|
|TYPE OF Monroeville HOMES|
|Small Apt. Buildings||10.7|
|SIZE OF Monroeville HOMES|
|5 or more bedrooms||3.83|