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 200,602 people, 79,866 houses or apartments, and a median cost of homes of $101,109, 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'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 -1.35%, 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 -1.57%, 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 1.47%, which equates to an annual appreciation rate of 6.03%.
Relative to Alabama, our data show that Montgomery's latest annual appreciation rate is lower than 90% 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.
|$735,001 - $980,000||0.4|
|$490,001 - $735,000||1.6|
|$392,001 - $490,000||1.6|
|$294,001 - $392,000||3.8|
|$196,001 - $294,000||9.4|
|$98,001 - $196,000||35.6|
|$49,001 - $98,000||32.6|
|$0 - $49,000||14.3|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
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
2000 Q1 - 2017 Q1
|* 10 is highest|
|AGE OF Montgomery HOMES|
|2000 or Newer||12.8|
|1970 - 1999||50.9|
|1940 - 1969||29.1|
|1939 or Older||7.3|
|TYPE OF Montgomery HOMES|
|Small Apt. Buildings||7.2|
|SIZE OF Montgomery HOMES|
|5 or more bedrooms||2.41|