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 19,519 people, 7,903 houses or apartments, and a median cost of homes of $78,654, house prices in Selma are some of the most affordable in Alabama as well as the nation.
Single-family detached homes are the single most common housing type in Selma, accounting for 67.11% of the city's housing units. Other types of housing that are prevalent in Selma include duplexes, homes converted to apartments or other small apartment buildings ( 20.76%), large apartment complexes or high rise apartments ( 8.96%), and a few row houses and other attached homes ( 1.78%).
The most prevalent building size and type in Selma are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 44.37% owning and 55.63% renting.
At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Selma's housing was primarily built during this period, from the '40s through the '60s. A full 45.82% of the city's housing hails from this era. Other housing ages represented in Selma include homes built between 1970-1999 ( 34.06%) and housing constructed before 1939 ( 12.44%). There's also some housing in Selma built between 2000 and later ( 7.68%).
Vacant housing appears to be an issue in Selma. Fully 17.51% of the housing stock is classified as vacant. Left unchecked, vacant Selma homes and apartments can be a drag on the real estate market, holding Selma 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 Selma have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 5.65%, which ranks in the top 50% nationwide. This equates to an annual average Selma house appreciation rate of 0.55%.
Over the last year, Selma appreciation rates have trailed the rest of the nation. In the last twelve months, Selma's appreciation rate has been -0.25%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Selma were at -0.55%, which equates to an annual appreciation rate of -2.17%.
Notably, Selma's appreciation rate in the latest quarter is one of the lowest in America.
Relative to Alabama, our data show that Selma's latest annual appreciation rate is lower than 90% 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 Selma differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Selma - 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 Selma real estate investment or home purchase decisions.
|$757,001 - $1,009,000||0.9|
|$504,001 - $757,000||0.3|
|$403,001 - $504,000||0.1|
|$302,001 - $403,000||1.6|
|$202,001 - $302,000||8.0|
|$101,001 - $202,000||23.4|
|$51,001 - $101,000||43.2|
|$0 - $51,000||22.4|
|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 Selma HOMES|
|2000 or Newer||7.7|
|1970 - 1999||34.1|
|1940 - 1969||45.8|
|1939 or Older||12.4|
|TYPE OF Selma HOMES|
|Small Apt. Buildings||20.8|
|SIZE OF Selma HOMES|
|5 or more bedrooms||2.58|