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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more
With 5,031 people, 1,896 houses or apartments, and a median cost of homes of $115,417, house prices in Rainsville are solidly below the national average.
Single-family detached homes are the single most common housing type in Rainsville, accounting for 70.65% of the city's housing units. Other types of housing that are prevalent in Rainsville include mobile homes or trailers ( 11.71%), large apartment complexes or high rise apartments ( 10.05%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 5.81%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Rainsville. Owner-occupied housing accounts for 75.00% of Rainsville's homes, and 69.77% have either three or four bedrooms, which is average sized relative to America.
There is a lot of housing in Rainsville 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 Rainsville built between 2000 and later ( 15.99%). A lesser amount of the housing stock also hails from between 1940-1969 ( 11.06%). There's also some housing in Rainsville built before 1939 ( 4.47%).
Vacant housing appears to be an issue in Rainsville. Fully 12.63% of the housing stock is classified as vacant. Left unchecked, vacant Rainsville homes and apartments can be a drag on the real estate market, holding Rainsville 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.
Appreciation rates for homes in Rainsville have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 6.15%, which ranks in the top 50% nationwide. This equates to an annual average Rainsville house appreciation rate of 0.60%.
Over the last year, Rainsville appreciation rates have trailed the rest of the nation. In the last twelve months, Rainsville's appreciation rate has been 3.54%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Rainsville were at 2.19%, which equates to an annual appreciation rate of 9.03%.
Importantly, this makes Rainsville 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 Rainsville's latest annual appreciation rate is higher than 70% of the other cities and towns in Alabama.
|$804,001 - $1,071,000||1.1|
|$536,001 - $804,000||1.0|
|$429,001 - $536,000||1.0|
|$322,001 - $429,000||3.7|
|$214,001 - $322,000||9.0|
|$107,001 - $214,000||36.5|
|$54,001 - $107,000||30.5|
|$0 - $54,000||16.3|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
2017 Q2 - 2017 Q3
Last 12 Months:
2016 Q3 - 2017 Q3
Last 2 Years:
2015 Q3 - 2017 Q3
Last 5 Years:
2012 Q3 - 2017 Q3
Last 10 Years:
2007 Q3 - 2017 Q3
2000 Q1 - 2017 Q3
|* 10 is highest|
|AGE OF Rainsville HOMES|
|2000 or Newer||16.0|
|1970 - 1999||68.5|
|1940 - 1969||11.1|
|1939 or Older||4.5|
|TYPE OF Rainsville HOMES|
|Small Apt. Buildings||5.8|
|SIZE OF Rainsville HOMES|
|5 or more bedrooms||1.66|