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 29,527 people, 11,276 houses or apartments, and a median cost of homes of $148,345, Opelika 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 Opelika, accounting for 64.82% of the city's housing units. Other types of housing that are prevalent in Opelika include mobile homes or trailers ( 14.00%), large apartment complexes or high rise apartments ( 11.91%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 6.82%).
The most prevalent building size and type in Opelika are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 57.15% owning and 42.85% renting.
There is a lot of housing in Opelika 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 Opelika built between 2000 and later ( 25.35%). A lesser amount of the housing stock also hails from between 1940-1969 ( 22.91%). There's also some housing in Opelika built before 1939 ( 7.47%).
Vacant housing appears to be an issue in Opelika. Fully 12.99% of the housing stock is classified as vacant. Left unchecked, vacant Opelika homes and apartments can be a drag on the real estate market, holding Opelika 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.
Real estate appreciation rates in Opelika's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.36% during the period.
Appreciation rates are so strong in Opelika that despite a nationwide downturn in the housing market, Opelika real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Opelika appreciation rates continue to be some of the highest in America, at 7.36%, which is higher than appreciation rates in 78.31% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Opelika. Opelika appreciation rates in the latest quarter were at 1.67%, which equates to an annual appreciation rate of 6.85%.
Relative to Alabama, our data show that Opelika's latest annual appreciation rate is higher 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 Opelika differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Opelika - 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 Opelika real estate investment or home purchase decisions.
|$847,001 - $1,129,000||0.2|
|$565,001 - $847,000||2.7|
|$452,001 - $565,000||2.4|
|$339,001 - $452,000||4.4|
|$226,001 - $339,000||15.7|
|$113,001 - $226,000||42.2|
|$56,001 - $113,000||15.5|
|$0 - $56,000||16.3|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
2017 Q1 - 2017 Q2
Last 12 Months:
2016 Q2 - 2017 Q2
Last 2 Years:
2015 Q2 - 2017 Q2
Last 5 Years:
2012 Q2 - 2017 Q2
Last 10 Years:
2007 Q2 - 2017 Q2
2000 Q1 - 2017 Q2
|* 10 is highest|
|AGE OF Opelika HOMES|
|2000 or Newer||25.3|
|1970 - 1999||44.3|
|1940 - 1969||22.9|
|1939 or Older||7.5|
|TYPE OF Opelika HOMES|
|Small Apt. Buildings||6.8|
|SIZE OF Opelika HOMES|
|5 or more bedrooms||2.89|