Monroeville, AL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Monroeville, 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 Q1 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

Monroeville Housing Market Information

With 6,110 people, 2,093 houses or apartments, and a median cost of homes of $118,989, 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.

Monroeville Home Appreciation Rates

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 4.38%, which ranks in the top 50% nationwide. This equates to an annual average Monroeville house appreciation rate of 0.43%.

Appreciation rates are so strong in Monroeville that despite a nationwide downturn in the housing market, Monroeville real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Monroeville appreciation rates continue to be some of the highest in America, at 6.32%, which is higher than appreciation rates in 76.66% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Monroeville. Monroeville appreciation rates in the latest quarter were at 0.55%, which equates to an annual appreciation rate of 2.22%.

Relative to Alabama, our data show that Monroeville's latest annual appreciation rate is higher than 90% of the other cities and towns in Alabama.

Average Home Values

 

Median Home Value:
$118,989

Monroeville, AL HOME PRICES

Value Range
> $1,104,000 0.4
$828,001 - $1,104,000 0.0
$552,001 - $828,000 0.0
$441,001 - $552,000 0.5
$331,001 - $441,000 1.3
$221,001 - $331,000 10.1
$110,001 - $221,000 38.7
$55,001 - $110,000 23.4
$0 - $55,000 25.6

High for AL
Low for Nation

Value Relative to Nation Value Relative to State
66.0611742646197 38.25

Number Of Homes And Apartments:
2,093

Monroeville Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
AL*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
21.17% 1.12% 3 2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$842 / per month

Homeownership Rate

Homeownership
Owners 59.28
Renters 40.72
Vacant 18.31

Housing Market Details

 

Age of Homes

AGE OF Monroeville HOMES
2000 or Newer 3.7
1970 - 1999 73.2
1940 - 1969 18.8
1939 or Older 4.2

Types of Homes

TYPE OF Monroeville HOMES
Single-Family 70.8
Townhomes 0.5
Small Apt. Buildings 10.7
Apt. Complexes 13.9
Mobile Homes 4.0
Other 0.0

Home Size

SIZE OF Monroeville HOMES
No Bedroom 1.64
1 Bedroom 4.96
2 Bedrooms 24.20
3 Bedrooms 50.04
4 Bedrooms 15.34
5 or more bedrooms 3.83

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Zip Codes in Monroeville, AL