Opp, AL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Opp Neighborhoods Since 2000




Opp, AL Real Estate Data

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 Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Opp Housing Market Information

With a population of 6,658, 2,466 total housing units (homes and apartments), and a median house value of $108,132, 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 81.86% of the city's housing units. Other types of housing that are prevalent in Opp include duplexes, homes converted to apartments or other small apartment buildings ( 8.60%), mobile homes or trailers ( 6.51%), and a few large apartment complexes or high rise apartments ( 2.16%).

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 64.67% owning and 35.33% 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 ( 38.57%). A lesser amount of the housing stock also hails from before 1939 ( 9.37%). There's also some housing in Opp built between 2000 and later ( 4.88%).

Vacant housing appears to be an issue in Opp. Fully 18.07% 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 18.06% over the last ten years, which is an average annual home appreciation rate of 1.67%, 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 4.59%, has been at or slightly above the national average. In the latest quarter, Opp's appreciation rate has been 0.55%, which annualizes to a rate of 2.22%.

Relative to Alabama, our data show that Opp'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 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:
$108,132

Opp, AL HOME PRICES

Value Range
> $1,084,000 0.3
$812,001 - $1,084,000 0.3
$542,001 - $812,000 0.3
$433,001 - $542,000 2.5
$325,001 - $433,000 2.2
$217,001 - $325,000 8.8
$108,001 - $217,000 23.7
$54,001 - $108,000 38.3
$0 - $54,000 23.8

Average for AL
Low for Nation

Value Relative to Nation Value Relative to State
72.5067385444744 48.5

Number Of Homes And Apartments:
2,466

Opp Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
AL*
Compared To
America*
Latest Quarter:
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
Since 2000:
2000 Q1 - 2017 Q1
53.24% 2.51% 10 7
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$737 / per month

Homeownership Rate

Homeownership
Owners 64.67
Renters 35.33
Vacant 18.07

Housing Market Details

 

Age of Homes

AGE OF Opp HOMES
2000 or Newer 4.9
1970 - 1999 47.2
1940 - 1969 38.6
1939 or Older 9.4

Types of Homes

TYPE OF Opp HOMES
Single-Family 81.9
Townhomes 0.9
Small Apt. Buildings 8.6
Apt. Complexes 2.2
Mobile Homes 6.5
Other 0.0

Home Size

SIZE OF Opp HOMES
No Bedroom 1.30
1 Bedroom 5.05
2 Bedrooms 19.44
3 Bedrooms 59.30
4 Bedrooms 13.49
5 or more bedrooms 1.43