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 632 people, 282 houses or apartments, and a median cost of homes of $88,371, house prices in Reece City are solidly below the national average.
Single-family detached homes are the single most common housing type in Reece City, accounting for 89.54% of the town's housing units. Other types of housing that are prevalent in Reece City include mobile homes or trailers ( 9.85%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Reece City. Owner-occupied housing accounts for 84.75% of Reece City's homes, and 76.31% have either three or four bedrooms, which is average sized relative to America.
There is a lot of housing in Reece 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 Reece City built between 1940-1969 ( 34.46%). A lesser amount of the housing stock also hails from before 1939 ( 10.15%). There's also some housing in Reece City built between 2000 and later ( 6.46%).
Vacant housing appears to be an issue in Reece City. Fully 13.23% of the housing stock is classified as vacant. Left unchecked, vacant Reece City homes and apartments can be a drag on the real estate market, holding Reece 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.
Appreciation rates for homes in Reece City have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 12.89%, which ranks in the top 30% nationwide. This equates to an annual average Reece City house appreciation rate of 1.22%.
Appreciation rates are so strong in Reece City that despite a nationwide downturn in the housing market, Reece City real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Reece City appreciation rates continue to be some of the highest in America, at 9.35%, which is higher than appreciation rates in 89.82% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Reece City. Reece City appreciation rates in the latest quarter were at 5.78%, which equates to an annual appreciation rate of 25.19%.
Importantly, this makes Reece City one of the highest appreciating communities in the nation for the latest quarter, and may signal the town's near-future real estate investment strength.
Relative to Alabama, our data show that Reece City's latest annual appreciation rate is higher than 90% of the other cities and towns in Alabama.
|$866,001 - $1,155,000||0.2|
|$578,001 - $866,000||0.2|
|$462,001 - $578,000||1.3|
|$347,001 - $462,000||2.2|
|$231,001 - $347,000||6.0|
|$115,001 - $231,000||31.9|
|$58,001 - $115,000||30.1|
|$0 - $58,000||27.5|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
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
2000 Q1 - 2017 Q2
|* 10 is highest|
|AGE OF Reece City HOMES|
|2000 or Newer||6.5|
|1970 - 1999||48.9|
|1940 - 1969||34.5|
|1939 or Older||10.2|
|TYPE OF Reece City HOMES|
|Small Apt. Buildings||0.0|
|SIZE OF Reece City HOMES|
|5 or more bedrooms||3.38|