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 about Scout's Real Estate Data
With a population of 6,805, 2,395 total housing units (homes and apartments), and a median house value of $222,790, house prices in Satsuma are solidly below the national average.
Single-family detached homes are the single most common housing type in Satsuma, accounting for 91.23% of the city's housing units. Other types of housing that are prevalent in Satsuma include large apartment complexes or high rise apartments ( 5.15%), mobile homes or trailers ( 1.87%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 1.48%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Satsuma. Owner-occupied housing accounts for 81.06% of Satsuma's homes, and 89.12% have either three or four bedrooms, which is average sized relative to America.
There is a lot of housing in Satsuma 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 Satsuma built between 2000 and later ( 24.56%). A lesser amount of the housing stock also hails from between 1940-1969 ( 20.55%). There's also some housing in Satsuma built before 1939 ( 2.73%).
Appreciation rates for homes in Satsuma have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 83.69%, which ranks in the top 50% nationwide. This equates to an annual average Satsuma house appreciation rate of 6.27%.
Appreciation rates are so strong in Satsuma that despite a nationwide downturn in the housing market, Satsuma real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Satsuma appreciation rates continue to be some of the highest in America, at 9.24%, which is higher than appreciation rates in 92.43% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Satsuma. Satsuma appreciation rates in the latest quarter were at 6.07%, which equates to an annual appreciation rate of 26.58%.
Importantly, this makes Satsuma 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 Satsuma's latest annual appreciation rate is higher than 80% of the other cities and towns in Alabama.
$222,790
for Alabama
for nation
2,395
$1,657 / per month