Opp, AL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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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 Q2 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 $107,541, 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

Appreciation rates for homes in Opp have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 15.57%, which ranks in the top 30% nationwide. This equates to an annual average Opp house appreciation rate of 1.46%.

Over the last year, Opp appreciation rates have trailed the rest of the nation. In the last twelve months, Opp's appreciation rate has been 2.45%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Opp were at -0.55%, which equates to an annual appreciation rate of -2.17%.

Notably, Opp's appreciation rate in the latest quarter is one of the lowest in America.

Relative to Alabama, our data show that Opp's latest annual appreciation rate is higher than 50% 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:
$107,541

Opp, AL HOME PRICES

Value Range
> $1,078,000 0.3
$808,001 - $1,078,000 0.3
$539,001 - $808,000 0.3
$431,001 - $539,000 2.5
$323,001 - $431,000 2.2
$216,001 - $323,000 8.8
$108,001 - $216,000 23.7
$53,001 - $108,000 38.3
$0 - $53,000 23.8

Average for AL
Low for Nation

Value Relative to Nation Value Relative to State
73.8216523215645 50.0

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:
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
Since 2000:
2000 Q1 - 2017 Q2
52.41% 2.44% 10 6
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$733 / 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