Prattville, AL Real Estate Market

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 Q4 2020. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Prattville, AL Housing Market Trends

With a population of 35,957, 14,069 total housing units (homes and apartments), and a median house value of $169,251, house prices in Prattville are solidly below the national average.

Single-family detached homes are the single most common housing type in Prattville, accounting for 74.32% of the city's housing units. Other types of housing that are prevalent in Prattville include large apartment complexes or high rise apartments ( 13.79%), mobile homes or trailers ( 6.32%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 4.52%).

The most prevalent building size and type in Prattville are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 62.01% owning and 37.99% renting.

There is a lot of housing in Prattville 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 Prattville built between 2000 and later ( 33.45%). A lesser amount of the housing stock also hails from between 1940-1969 ( 18.01%). There's also some housing in Prattville built before 1939 ( 1.25%).

Prattville Home Appreciation Rates

Some of the lowest real estate appreciation rates in America over the last ten years have been in Prattville, where house values have increased just 8.79%, which is annualized rate of 0.85%. This rate is lower than the appreciation rate found in 90% of the cities and towns in America.

NeighborhoodScout's data show that during the latest twelve months, Prattville's appreciation rate, at 5.49%, has been at or slightly above the national average. In the latest quarter, Prattville's appreciation rate has been 1.43%, which annualizes to a rate of 5.86%.

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

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

Average Home Values

 

Median Home Value:
$169,251

Prattville, AL HOME PRICES

> $1,119,000
0.1%
0.1%
$839,001 - $1,119,000
0.5%
0.5%
$559,001 - $839,000
0.8%
0.8%
$448,001 - $559,000
1.8%
1.8%
$336,001 - $448,000
7.9%
7.9%
$224,001 - $336,000
21.3%
21.3%
$112,001 - $224,000
43.7%
43.7%
$56,001 - $112,000
17.2%
17.2%
$0 - $56,000
6.6%
6.6%
0.0% 100.0%
% OF HOMES
Value Relative To State

Average for Nation

High for AL

Value Relative To Nation

Number Of Homes And Apartments:
14,069

Prattville Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
AL*
Compared To
America*
Latest Quarter:
2020 Q3 - 2020 Q4
Last 12 Months:
2019 Q4 - 2020 Q4
Last 2 Years:
2018 Q4 - 2020 Q4
Last 5 Years:
2015 Q4 - 2020 Q4
Last 10 Years:
2010 Q4 - 2020 Q4
Since 2000:
2000 Q1 - 2020 Q4
39.34% 1.59%
2
2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,265 / per month

Homeownership Rate

Owners
62.0%
62.0%
Renters
38.0%
38.0%
Vacant
6.1%
6.1%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
33.4%
33.4%
1970 - 1999
47.3%
47.3%
1940 - 1969
18.0%
18.0%
1939 or Older
1.2%
1.2%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
74.3%
74.3%
Townhomes
1.1%
1.1%
Small Apt. Buildings
4.5%
4.5%
Apt. Complexes
13.8%
13.8%
Mobile Homes
6.3%
6.3%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
0.8%
0.8%
1 Bedroom
4.7%
4.7%
2 Bedrooms
15.5%
15.5%
3 Bedrooms
53.6%
53.6%
4 Bedrooms
22.0%
22.0%
5 or more bedrooms
3.5%
3.5%
0.0% 100.0%
% OF HOMES