Sylacauga, AL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Sylacauga, AL Real Estate Data


Sylacauga Housing Market Information

With 12,657 people, 5,078 houses or apartments, and a median cost of homes of $94,876, house prices in Sylacauga are solidly below the national average.

Single-family detached homes are the single most common housing type in Sylacauga, accounting for 69.85% of the city's housing units. Other types of housing that are prevalent in Sylacauga include duplexes, homes converted to apartments or other small apartment buildings ( 12.51%), large apartment complexes or high rise apartments ( 11.23%), and a few mobile homes or trailers ( 5.16%).

The most prevalent building size and type in Sylacauga are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 58.56% owning and 41.44% 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. Sylacauga's housing was primarily built during this period, from the '40s through the '60s. A full 44.38% of the city's housing hails from this era. Other housing ages represented in Sylacauga include homes built between 1970-1999 ( 38.17%) and housing constructed before 1939 ( 9.70%). There's also some housing in Sylacauga built between 2000 and later ( 7.75%).

Vacant housing appears to be an issue in Sylacauga. Fully 13.46% of the housing stock is classified as vacant. Left unchecked, vacant Sylacauga homes and apartments can be a drag on the real estate market, holding Sylacauga 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.

Sylacauga Home Appreciation Rates

Real estate appreciation rates in Sylacauga's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 0.01% during the period.

Over the last year, Sylacauga appreciation rates have trailed the rest of the nation. In the last twelve months, Sylacauga's appreciation rate has been 3.64%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Sylacauga were at 1.31%, which equates to an annual appreciation rate of 5.35%.

Relative to Alabama, our data show that Sylacauga's latest annual appreciation rate is lower than 60% 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 Sylacauga differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Sylacauga - 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 Sylacauga real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$94,876

Sylacauga, AL HOME PRICES

Value Range
> $1,039,000 0.6
$779,001 - $1,039,000 0.7
$520,001 - $779,000 0.4
$416,001 - $520,000 0.4
$312,001 - $416,000 1.9
$208,001 - $312,000 7.1
$104,001 - $208,000 31.1
$52,001 - $104,000 33.5
$0 - $52,000 24.4

Low for AL
Very Low for Nation

Value Relative to Nation Value Relative to State
82.1689992387422 60.75

Number Of Homes And Apartments:
5,078

Rent & Ownership

 

Average Market Rent:
$798 / per month

Homeownership Rate

Homeownership
Owners 58.56
Renters 41.44
Vacant 13.46

Housing Market Details

 

Age of Homes

AGE OF Sylacauga HOMES
2000 or Newer 7.8
1970 - 1999 38.2
1940 - 1969 44.4
1939 or Older 9.7

Types of Homes

TYPE OF Sylacauga HOMES
Single-Family 69.9
Townhomes 1.2
Small Apt. Buildings 12.5
Apt. Complexes 11.2
Mobile Homes 5.2
Other 0.0

Home Size

SIZE OF Sylacauga HOMES
No Bedroom 2.28
1 Bedroom 12.92
2 Bedrooms 26.02
3 Bedrooms 45.19
4 Bedrooms 11.74
5 or more bedrooms 1.84

Sylacauga Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
AL*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
24.76% 1.31% 4 2
* 10 is highest