Montevallo, AL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Montevallo, AL Real Estate Data


Montevallo Housing Market Information

With a population of 6,648, 2,263 total housing units (homes and apartments), and a median house value of $143,802, 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

Appreciation rates for homes in Montevallo have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 0.82%, which ranks in the top 50% nationwide. This equates to an annual average Montevallo house appreciation rate of 0.08%.

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 2.08%, 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 -0.47%, which equates to an annual appreciation rate of -1.87%.

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

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:
$143,802

Montevallo, AL HOME PRICES

Value Range
> $1,090,000 0.1
$818,001 - $1,090,000 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
52.5108402671979 19.25

Number Of Homes And Apartments:
2,263

Rent & Ownership

 

Average Market Rent:
$977 / 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

Montevallo 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
29.47% 1.51% 5 3
* 10 is highest

Popular Neighborhoods in Montevallo

Zip Codes in Montevallo, AL