Phenix City, AL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Phenix City, 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

Phenix City Housing Market Information

With a population of 37,570, 14,030 total housing units (homes and apartments), and a median house value of $99,095, house prices in Phenix City are solidly below the national average.

Single-family detached homes are the single most common housing type in Phenix City, accounting for 63.70% of the city's housing units. Other types of housing that are prevalent in Phenix City include large apartment complexes or high rise apartments ( 19.28%), duplexes, homes converted to apartments or other small apartment buildings ( 13.18%), and a few mobile homes or trailers ( 2.72%).

The most prevalent building size and type in Phenix City are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 47.75% owning and 52.25% renting.

There is a lot of housing in Phenix City 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 Phenix City built between 1940-1969 ( 26.09%). A lesser amount of the housing stock also hails from between 2000 and later ( 25.60%). There's also some housing in Phenix City built before 1939 ( 8.74%).

Vacant housing appears to be an issue in Phenix City. Fully 14.36% of the housing stock is classified as vacant. Left unchecked, vacant Phenix City homes and apartments can be a drag on the real estate market, holding Phenix City 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.

Phenix City Home Appreciation Rates

Phenix City's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Phenix City during the period has been just -1.51%, which is lower than 80% of US communities.

Over the last year, Phenix City appreciation rates have trailed the rest of the nation. In the last twelve months, Phenix City's appreciation rate has been -1.55%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Phenix City were at -2.81%, which equates to an annual appreciation rate of -10.77%.

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

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

Average Home Values

 

Median Home Value:
$99,095

Phenix City, AL HOME PRICES

Value Range
> $987,000 0.3
$740,001 - $987,000 0.1
$493,001 - $740,000 0.4
$395,001 - $493,000 0.2
$296,001 - $395,000 1.3
$197,001 - $296,000 7.9
$99,001 - $197,000 43.4
$49,001 - $99,000 33.6
$0 - $49,000 12.8

Average for AL
Low for Nation

Value Relative to Nation Value Relative to State
78.1495370912926 57.0

Number Of Homes And Apartments:
14,030

Phenix City 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
18.86% 1.01% 2 2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$980 / per month

Homeownership Rate

Homeownership
Owners 47.75
Renters 52.25
Vacant 14.36

Housing Market Details

 

Age of Homes

AGE OF Phenix City HOMES
2000 or Newer 25.6
1970 - 1999 39.6
1940 - 1969 26.1
1939 or Older 8.7

Types of Homes

TYPE OF Phenix City HOMES
Single-Family 63.7
Townhomes 1.1
Small Apt. Buildings 13.2
Apt. Complexes 19.3
Mobile Homes 2.7
Other 0.0

Home Size

SIZE OF Phenix City HOMES
No Bedroom 3.05
1 Bedroom 9.07
2 Bedrooms 30.95
3 Bedrooms 43.82
4 Bedrooms 10.19
5 or more bedrooms 2.92