Opp, AL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Opp Neighborhoods Since 2000




Opp, AL Real Estate Data


Opp Housing Market Information

With 6,658 people, 2,478 houses or apartments, and a median cost of homes of $102,757, house prices in Opp are solidly below the national average.

Single-family detached homes are the single most common housing type in Opp, accounting for 81.55% of the city's housing units. Other types of housing that are prevalent in Opp include mobile homes or trailers ( 8.01%), duplexes, homes converted to apartments or other small apartment buildings ( 7.07%), and a few large apartment complexes or high rise apartments ( 2.45%).

The most prevalent building size and type in Opp are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 64.16% owning and 35.84% renting.

There is a lot of housing in Opp 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 Opp built between 1940-1969 ( 36.41%). A lesser amount of the housing stock also hails from before 1939 ( 9.81%). There's also some housing in Opp built between 2000 and later ( 5.10%).

Vacant housing appears to be an issue in Opp. Fully 18.94% of the housing stock is classified as vacant. Left unchecked, vacant Opp homes and apartments can be a drag on the real estate market, holding Opp 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.

Opp Home Appreciation Rates

In the last 10 years, Opp has experienced some of the highest home appreciation rates of any community in the nation. Opp real estate appreciated 25.09% over the last ten years, which is an average annual home appreciation rate of 2.26%, putting Opp in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Opp definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

NeighborhoodScout's data show that during the latest twelve months, Opp's appreciation rate, at 4.62%, has been at or slightly above the national average. In the latest quarter, Opp's appreciation rate has been 1.31%, which annualizes to a rate of 5.35%.

Relative to Alabama, our data show that Opp's latest annual appreciation rate is higher than 70% 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 Opp differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Opp - 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 Opp real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$102,757

Opp, AL HOME PRICES

Value Range
> $1,098,000 0.4
$824,001 - $1,098,000 0.3
$549,001 - $824,000 0.3
$439,001 - $549,000 1.5
$330,001 - $439,000 2.3
$220,001 - $330,000 10.3
$110,001 - $220,000 21.9
$55,001 - $110,000 37.5
$0 - $55,000 25.5

Average for AL
Low for Nation

Value Relative to Nation Value Relative to State
77.1534812906248 55.25

Number Of Homes And Apartments:
2,478

Rent & Ownership

 

Average Market Rent:
$869 / per month

Homeownership Rate

Homeownership
Owners 64.16
Renters 35.84
Vacant 18.94

Housing Market Details

 

Age of Homes

AGE OF Opp HOMES
2000 or Newer 5.1
1970 - 1999 48.7
1940 - 1969 36.4
1939 or Older 9.8

Types of Homes

TYPE OF Opp HOMES
Single-Family 81.6
Townhomes 0.9
Small Apt. Buildings 7.1
Apt. Complexes 2.5
Mobile Homes 8.0
Other 0.0

Home Size

SIZE OF Opp HOMES
No Bedroom 1.18
1 Bedroom 4.84
2 Bedrooms 20.77
3 Bedrooms 57.05
4 Bedrooms 15.05
5 or more bedrooms 1.11

Opp Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
AL*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
55.66% 2.64% 10 7
* 10 is highest