Montgomery, AL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Montgomery, AL Real Estate Data


Montgomery Housing Market Information

With a population of 200,602, 79,866 total housing units (homes and apartments), and a median house value of $99,623, house prices in Montgomery are solidly below the national average.

Single-family detached homes are the single most common housing type in Montgomery, accounting for 69.78% of the city's housing units. Other types of housing that are prevalent in Montgomery include large apartment complexes or high rise apartments ( 17.90%), duplexes, homes converted to apartments or other small apartment buildings ( 7.19%), and a few row houses and other attached homes ( 2.85%).

The most prevalent building size and type in Montgomery are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 54.60% owning and 45.40% renting.

There is a lot of housing in Montgomery 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 Montgomery built between 1940-1969 ( 29.08%). A lesser amount of the housing stock also hails from between 2000 and later ( 12.77%). There's also some housing in Montgomery built before 1939 ( 7.25%).

Vacant housing appears to be an issue in Montgomery. Fully 13.37% of the housing stock is classified as vacant. Left unchecked, vacant Montgomery homes and apartments can be a drag on the real estate market, holding Montgomery 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.

Montgomery Home Appreciation Rates

Montgomery's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Montgomery during the period has been just -1.58%, which is lower than 80% of US communities.

Over the last year, Montgomery appreciation rates have trailed the rest of the nation. In the last twelve months, Montgomery's appreciation rate has been -0.16%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Montgomery were at -3.00%, which equates to an annual appreciation rate of -11.48%.

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

Relative to Alabama, our data show that Montgomery's latest annual appreciation rate is lower than 80% of the other cities and towns in Alabama.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Montgomery differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Montgomery - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Montgomery real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$99,623

Montgomery, AL HOME PRICES

Value Range
> $967,000 0.6
$725,001 - $967,000 0.4
$484,001 - $725,000 1.6
$387,001 - $484,000 1.6
$290,001 - $387,000 3.8
$193,001 - $290,000 9.4
$97,001 - $193,000 35.6
$48,001 - $97,000 32.6
$0 - $48,000 14.3

Average for AL
Low for Nation

Value Relative to Nation Value Relative to State
77.6807687800305 56.0

Number Of Homes And Apartments:
79,866

Rent & Ownership

 

Average Market Rent:
$1,047 / per month

Homeownership Rate

Homeownership
Owners 54.60
Renters 45.40
Vacant 13.37

Housing Market Details

 

Age of Homes

AGE OF Montgomery HOMES
2000 or Newer 12.8
1970 - 1999 50.9
1940 - 1969 29.1
1939 or Older 7.3

Types of Homes

TYPE OF Montgomery HOMES
Single-Family 69.8
Townhomes 2.8
Small Apt. Buildings 7.2
Apt. Complexes 17.9
Mobile Homes 2.3
Other 0.0

Home Size

SIZE OF Montgomery HOMES
No Bedroom 1.59
1 Bedroom 8.73
2 Bedrooms 22.99
3 Bedrooms 46.37
4 Bedrooms 17.91
5 or more bedrooms 2.41

Montgomery 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
7.11% 0.40% 1 1
* 10 is highest