Roanoke, AL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Roanoke, AL Real Estate Data


Roanoke Housing Market Information

With a population of 6,005, 2,449 total housing units (homes and apartments), and a median house value of $78,148, house prices in Roanoke are solidly below the national average.

Single-family detached homes are the single most common housing type in Roanoke, accounting for 69.29% of the city's housing units. Other types of housing that are prevalent in Roanoke include mobile homes or trailers ( 12.79%), large apartment complexes or high rise apartments ( 12.79%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 5.12%).

The most prevalent building size and type in Roanoke are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 57.93% owning and 42.07% renting.

There is a lot of housing in Roanoke 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 Roanoke built between 1940-1969 ( 28.31%). A lesser amount of the housing stock also hails from before 1939 ( 15.91%). There's also some housing in Roanoke built between 2000 and later ( 6.63%).

Vacant housing appears to be an issue in Roanoke. Fully 12.25% of the housing stock is classified as vacant. Left unchecked, vacant Roanoke homes and apartments can be a drag on the real estate market, holding Roanoke 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.

Roanoke Home Appreciation Rates

Real estate appreciation rates in Roanoke's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.72% during the period.

NeighborhoodScout's data show that during the latest twelve months, Roanoke's appreciation rate, at 3.58%, has been at or slightly above the national average. In the latest quarter, Roanoke's appreciation rate has been -0.01%, which annualizes to a rate of -0.05%.

Relative to Alabama, our data show that Roanoke's latest annual appreciation rate is higher than 50% of the other cities and towns in Alabama.

Average Home Values

 

Median Home Value:
$78,148

Roanoke, AL HOME PRICES

Value Range
> $994,000 0.0
$745,001 - $994,000 0.2
$497,001 - $745,000 0.0
$398,001 - $497,000 0.0
$298,001 - $398,000 1.8
$199,001 - $298,000 6.0
$99,001 - $199,000 24.3
$50,001 - $99,000 40.3
$0 - $50,000 24.8

Low for AL
Very Low for Nation

Value Relative to Nation Value Relative to State
91.4244697058479 79.5

Number Of Homes And Apartments:
2,449

Rent & Ownership

 

Average Market Rent:
$752 / per month

Homeownership Rate

Homeownership
Owners 57.93
Renters 42.07
Vacant 12.25

Housing Market Details

 

Age of Homes

AGE OF Roanoke HOMES
2000 or Newer 6.6
1970 - 1999 49.2
1940 - 1969 28.3
1939 or Older 15.9

Types of Homes

TYPE OF Roanoke HOMES
Single-Family 69.3
Townhomes 0.0
Small Apt. Buildings 5.1
Apt. Complexes 12.8
Mobile Homes 12.8
Other 0.0

Home Size

SIZE OF Roanoke HOMES
No Bedroom 9.82
1 Bedroom 6.13
2 Bedrooms 28.20
3 Bedrooms 45.43
4 Bedrooms 8.81
5 or more bedrooms 1.61

Roanoke Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
AL*
Compared To
America*
Latest Quarter:
2016 Q3 - 2016 Q4
Last 12 Months:
2015 Q4 - 2016 Q4
Last 2 Years:
2014 Q4 - 2016 Q4
Last 5 Years:
2011 Q4 - 2016 Q4
Last 10 Years:
2006 Q4 - 2016 Q4
Since 2000:
2000 Q1 - 2016 Q4
6.97% 0.39% 1 1
* 10 is highest

Popular Neighborhoods in Roanoke

Zip Codes in Roanoke, AL