Northport, AL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Northport, AL Real Estate Data


Northport Housing Market Information

With a population of 24,772, 9,102 total housing units (homes and apartments), and a median house value of $180,845, Northport real estate is some of the most expensive in Alabama, although Northport home values aren't among America's most expensive.

Single-family detached homes are the single most common housing type in Northport, accounting for 73.48% of the city's housing units. Other types of housing that are prevalent in Northport include large apartment complexes or high rise apartments ( 15.08%), duplexes, homes converted to apartments or other small apartment buildings ( 8.20%), and a few mobile homes or trailers ( 2.58%).

The most prevalent building size and type in Northport are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 64.54% owning and 35.46% renting.

There is a lot of housing in Northport 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 Northport built between 2000 and later ( 26.56%). A lesser amount of the housing stock also hails from between 1940-1969 ( 20.30%). There's also some housing in Northport built before 1939 ( 3.05%).

Northport Home Appreciation Rates

Appreciation rates for homes in Northport have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 1.27%, which ranks in the top 50% nationwide. This equates to an annual average Northport house appreciation rate of 0.13%.

NeighborhoodScout's data show that during the latest twelve months, Northport's appreciation rate, at 5.55%, has been at or slightly above the national average. In the latest quarter, Northport's appreciation rate has been -0.38%, which annualizes to a rate of -1.51%.

Relative to Alabama, our data show that Northport's latest annual appreciation rate is higher 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 Northport differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Northport - 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 Northport real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$180,845

Northport, AL HOME PRICES

Value Range
> $1,038,000 0.2
$778,001 - $1,038,000 0.2
$519,001 - $778,000 0.8
$415,001 - $519,000 1.7
$311,001 - $415,000 5.2
$208,001 - $311,000 20.2
$104,001 - $208,000 53.4
$52,001 - $104,000 10.5
$0 - $52,000 7.5

Very High for AL
High for Nation

Value Relative to Nation Value Relative to State
37.5073245048635 6.0

Number Of Homes And Apartments:
9,102

Rent & Ownership

 

Average Market Rent:
$949 / per month

Homeownership Rate

Homeownership
Owners 64.54
Renters 35.46
Vacant 8.36

Housing Market Details

 

Age of Homes

AGE OF Northport HOMES
2000 or Newer 26.6
1970 - 1999 50.1
1940 - 1969 20.3
1939 or Older 3.1

Types of Homes

TYPE OF Northport HOMES
Single-Family 73.5
Townhomes 0.7
Small Apt. Buildings 8.2
Apt. Complexes 15.1
Mobile Homes 2.6
Other 0.0

Home Size

SIZE OF Northport HOMES
No Bedroom 0.98
1 Bedroom 8.90
2 Bedrooms 18.74
3 Bedrooms 47.27
4 Bedrooms 17.90
5 or more bedrooms 6.21

Northport 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
26.81% 1.39% 5 3
* 10 is highest