Prattville AL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA



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Prattville, 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 Q3 2020. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2018 (latest available). Updated annually.

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

Prattville Housing Market Information

With 35,957 people, 13,776 houses or apartments, and a median cost of homes of $168,010, Prattville real estate and house prices are near the national average for all cities and towns.

Single-family detached homes are the single most common housing type in Prattville, accounting for 75.16% of the city's housing units. Other types of housing that are prevalent in Prattville include large apartment complexes or high rise apartments ( 12.31%), mobile homes or trailers ( 6.83%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 3.90%).

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 64.58% owning and 35.42% 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 ( 34.19%). A lesser amount of the housing stock also hails from between 1940-1969 ( 18.00%). There's also some housing in Prattville built before 1939 ( 1.72%).

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 6.97%, which is annualized rate of 0.68%. This rate is lower than the appreciation rate found in 90% of the cities and towns in America.

Appreciation rates are so strong in Prattville that despite a nationwide downturn in the housing market, Prattville real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Prattville appreciation rates continue to be some of the highest in America, at 5.37%, which is higher than appreciation rates in 78.46% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Prattville. Prattville appreciation rates in the latest quarter were at 2.00%, which equates to an annual appreciation rate of 8.25%.

Importantly, this makes Prattville one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.

Relative to Alabama, our data show that Prattville'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 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:
$168,010

Prattville, AL HOME PRICES

Value Range
> $1,128,000 0.0
$846,001 - $1,128,000 0.4
$564,001 - $846,000 1.1
$451,001 - $564,000 1.5
$338,001 - $451,000 7.2
$225,001 - $338,000 20.8
$113,001 - $225,000 43.3
$57,001 - $113,000 17.5
$0 - $57,000 8.0

High for AL
Average for Nation

Value Relative to Nation Value Relative to State
53.956204379562 21.9451371571072

Number Of Homes And Apartments:
13,776

Prattville Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
AL*
Compared To
America*
Latest Quarter:
2020 Q2 - 2020 Q3
Last 12 Months:
2019 Q3 - 2020 Q3
Last 2 Years:
2018 Q3 - 2020 Q3
Last 5 Years:
2015 Q3 - 2020 Q3
Last 10 Years:
2010 Q3 - 2020 Q3
Since 2000:
2000 Q1 - 2020 Q3
37.35% 1.54%
2
2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,170 / per month

Homeownership Rate

Homeownership
Owners 64.58
Renters 35.42
Vacant 7.26

Housing Market Details

 

Age of Homes

AGE OF Prattville HOMES
2000 or Newer 34.2
1970 - 1999 46.1
1940 - 1969 18.0
1939 or Older 1.7

Types of Homes

TYPE OF Prattville HOMES
Single-Family 75.2
Townhomes 1.8
Small Apt. Buildings 3.9
Apt. Complexes 12.3
Mobile Homes 6.8
Other 0.0

Home Size

SIZE OF Prattville HOMES
No Bedroom 0.77
1 Bedroom 4.36
2 Bedrooms 15.81
3 Bedrooms 51.77
4 Bedrooms 23.62
5 or more bedrooms 3.67