menu
Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



New Market, AL Real Estate Market

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 Q4 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

New Market, AL Housing Market Trends

With a population of 1,543, 451 total housing units (homes and apartments), and a median house value of $246,553, New Market 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 New Market, accounting for 74.29% of the town's housing units. Other types of housing that are prevalent in New Market include mobile homes or trailers ( 25.71%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in New Market. Owner-occupied housing accounts for 80.27% of New Market's homes, and 71.83% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in New Market 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 New Market built between 1940-1969 ( 17.39%). A lesser amount of the housing stock also hails from between 2000 and later ( 9.45%).

Vacant housing appears to be an issue in New Market. Fully 14.74% of the housing stock is classified as vacant. Left unchecked, vacant New Market homes and apartments can be a drag on the real estate market, holding New Market 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.

New Market Home Appreciation Rates

Appreciation rates for homes in New Market have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 90.01%, which ranks in the top 40% nationwide. This equates to an annual average New Market house appreciation rate of 6.63%.

Over the last year, New Market appreciation rates have trailed the rest of the nation. In the last twelve months, New Market's appreciation rate has been 4.48%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in New Market were at 1.60%, which equates to an annual appreciation rate of 6.56%.

Relative to Alabama, our data show that New Market's latest annual appreciation rate is lower than 70% of the other cities and towns in Alabama.

Average Home Values

Median Home Value

$246,553

New Market, AL Home Prices
> $1,501,000
$1,126,001 - $1,501,000
$751,001 - $1,126,000
$600,001 - $751,000
$451,001 - $600,000
$300,001 - $451,000
$150,001 - $300,000
$75,001 - $150,000
$0 - $75,000
0.7%
0.7%
0.3%
0.3%
5.4%
5.4%
5.1%
5.1%
4.5%
4.5%
25.8%
25.8%
28.0%
28.0%
14.4%
14.4%
15.9%
15.9%
0% 100.0%
% of Homes
High

for Alabama

Average

for nation

Number of Homes And Apartments:

451

New Market Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,195 / per month

Homeownership Rate

Owners
Renters
80.3%
80.3%
19.7%
19.7%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
14.7%
14.7%
85.3%
85.3%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
9.5%
9.5%
73.2%
73.2%
17.4%
17.4%
0.0%
0.0%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
74.3%
74.3%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
25.7%
25.7%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
0.0%
0.0%
8.7%
8.7%
15.7%
15.7%
70.7%
70.7%
1.1%
1.1%
3.8%
3.8%
0% 100.0%
% of Homes