Sheffield, AL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Sheffield, AL Real Estate Data


Sheffield Housing Market Information

With a population of 9,108, 3,961 total housing units (homes and apartments), and a median house value of $88,604, house prices in Sheffield are solidly below the national average.

Single-family detached homes are the single most common housing type in Sheffield, accounting for 74.92% of the city's housing units. Other types of housing that are prevalent in Sheffield include duplexes, homes converted to apartments or other small apartment buildings ( 15.08%), large apartment complexes or high rise apartments ( 8.33%), and a few row houses and other attached homes ( 1.01%).

The most prevalent building size and type in Sheffield are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 57.16% owning and 42.84% 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. Sheffield's housing was primarily built during this period, from the '40s through the '60s. A full 58.59% of the city's housing hails from this era. Other housing ages represented in Sheffield include homes built between 1970-1999 ( 20.61%) and housing constructed before 1939 ( 15.74%). There's also some housing in Sheffield built between 2000 and later ( 5.06%).

Vacant housing appears to be an issue in Sheffield. Fully 16.43% of the housing stock is classified as vacant. Left unchecked, vacant Sheffield homes and apartments can be a drag on the real estate market, holding Sheffield 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.

Sheffield Home Appreciation Rates

Appreciation rates for homes in Sheffield have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 9.57%, which ranks in the top 40% nationwide. This equates to an annual average Sheffield house appreciation rate of 0.92%.

Appreciation rates are so strong in Sheffield that despite a nationwide downturn in the housing market, Sheffield real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Sheffield appreciation rates continue to be some of the highest in America, at 14.83%, which is higher than appreciation rates in 98.73% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Sheffield. Sheffield appreciation rates in the latest quarter were at -0.11%, which equates to an annual appreciation rate of -0.44%.

Relative to Alabama, our data show that Sheffield's latest annual appreciation rate is higher than 90% of the other cities and towns in Alabama.

Average Home Values

 

Median Home Value:
$88,604

Sheffield, AL HOME PRICES

Value Range
> $1,100,000 0.2
$825,001 - $1,100,000 0.0
$550,001 - $825,000 0.0
$440,001 - $550,000 0.7
$330,001 - $440,000 1.3
$220,001 - $330,000 5.0
$110,001 - $220,000 31.6
$55,001 - $110,000 42.3
$0 - $55,000 18.9

Low for AL
Very Low for Nation

Value Relative to Nation Value Relative to State
84.8646431501231 64.5

Number Of Homes And Apartments:
3,961

Rent & Ownership

 

Average Market Rent:
$751 / per month

Homeownership Rate

Homeownership
Owners 57.16
Renters 42.84
Vacant 16.43

Housing Market Details

 

Age of Homes

AGE OF Sheffield HOMES
2000 or Newer 5.1
1970 - 1999 20.6
1940 - 1969 58.6
1939 or Older 15.7

Types of Homes

TYPE OF Sheffield HOMES
Single-Family 74.9
Townhomes 1.0
Small Apt. Buildings 15.1
Apt. Complexes 8.3
Mobile Homes 0.7
Other 0.0

Home Size

SIZE OF Sheffield HOMES
No Bedroom 1.60
1 Bedroom 8.44
2 Bedrooms 32.66
3 Bedrooms 41.96
4 Bedrooms 12.62
5 or more bedrooms 2.72

Sheffield 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
26.44% 1.37% 5 3
* 10 is highest

Popular Neighborhoods in Sheffield

Zip Codes in Sheffield, AL