Montevallo, AL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Montevallo, 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

Montevallo Housing Market Information

With a population of 6,648, 2,263 total housing units (homes and apartments), and a median house value of $143,847, Montevallo real estate and house prices are near the national average for all cities and towns.

Single-family detached homes are the single most common housing type in Montevallo, accounting for 59.15% of the city's housing units. Other types of housing that are prevalent in Montevallo include large apartment complexes or high rise apartments ( 21.70%), duplexes, homes converted to apartments or other small apartment buildings ( 11.57%), and a few mobile homes or trailers ( 5.96%).

The most prevalent building size and type in Montevallo are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 44.19% owning and 55.81% renting.

There is a lot of housing in Montevallo 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 Montevallo built between 2000 and later ( 25.53%). A lesser amount of the housing stock also hails from between 1940-1969 ( 17.52%). There's also some housing in Montevallo built before 1939 ( 8.05%).

Vacant housing appears to be an issue in Montevallo. Fully 12.46% of the housing stock is classified as vacant. Left unchecked, vacant Montevallo homes and apartments can be a drag on the real estate market, holding Montevallo 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.

Montevallo Home Appreciation Rates

Real estate appreciation rates in Montevallo's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.03% during the period.

Over the last year, Montevallo appreciation rates have trailed the rest of the nation. In the last twelve months, Montevallo's appreciation rate has been 1.88%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Montevallo were at 0.16%, which equates to an annual appreciation rate of 0.62%.

Relative to Alabama, our data show that Montevallo's latest annual appreciation rate is lower than 60% of the other cities and towns in Alabama.

Average Home Values

 

Median Home Value:
$143,847

Montevallo, AL HOME PRICES

Value Range
> $1,091,000 0.1
$818,001 - $1,091,000 0.8
$545,001 - $818,000 4.8
$436,001 - $545,000 0.2
$327,001 - $436,000 3.6
$218,001 - $327,000 13.9
$109,001 - $218,000 44.2
$55,001 - $109,000 24.1
$0 - $55,000 8.4

Very High for AL
Average for Nation

Value Relative to Nation Value Relative to State
52.812609867573 19.0

Number Of Homes And Apartments:
2,263

Montevallo 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
28.76% 1.48% 5 3
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,013 / per month

Homeownership Rate

Homeownership
Owners 44.19
Renters 55.81
Vacant 12.46

Housing Market Details

 

Age of Homes

AGE OF Montevallo HOMES
2000 or Newer 25.5
1970 - 1999 48.9
1940 - 1969 17.5
1939 or Older 8.0

Types of Homes

TYPE OF Montevallo HOMES
Single-Family 59.1
Townhomes 1.6
Small Apt. Buildings 11.6
Apt. Complexes 21.7
Mobile Homes 6.0
Other 0.0

Home Size

SIZE OF Montevallo HOMES
No Bedroom 0.19
1 Bedroom 11.99
2 Bedrooms 28.47
3 Bedrooms 40.31
4 Bedrooms 16.36
5 or more bedrooms 2.67

Popular Neighborhoods in Montevallo

Zip Codes in Montevallo, AL