Tallassee, AL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Tallassee, AL Real Estate Data


Tallassee Housing Market Information

With a population of 4,778, 2,032 total housing units (homes and apartments), and a median house value of $134,646, house prices in Tallassee are solidly below the national average.

Single-family detached homes are the single most common housing type in Tallassee, accounting for 74.71% of the city's housing units. Other types of housing that are prevalent in Tallassee include duplexes, homes converted to apartments or other small apartment buildings ( 11.15%), large apartment complexes or high rise apartments ( 7.90%), and a few mobile homes or trailers ( 4.21%).

The most prevalent building size and type in Tallassee are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 50.44% owning and 49.56% 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. Tallassee's housing was primarily built during this period, from the '40s through the '60s. A full 35.66% of the city's housing hails from this era. Other housing ages represented in Tallassee include homes built between 1970-1999 ( 31.32%) and housing constructed before 1939 ( 19.52%). There's also some housing in Tallassee built between 2000 and later ( 13.49%).

Vacant housing appears to be an issue in Tallassee. Fully 11.84% of the housing stock is classified as vacant. Left unchecked, vacant Tallassee homes and apartments can be a drag on the real estate market, holding Tallassee 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.

Tallassee Home Appreciation Rates

Appreciation rates for homes in Tallassee have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 12.23%, which ranks in the top 30% nationwide. This equates to an annual average Tallassee house appreciation rate of 1.16%.

NeighborhoodScout's data show that during the latest twelve months, Tallassee's appreciation rate, at 5.64%, has been at or slightly above the national average. In the latest quarter, Tallassee's appreciation rate has been 0.71%, which annualizes to a rate of 2.86%.

Notably, Tallassee's appreciation rate in the latest quarter is one of the lowest in America.

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

Average Home Values

 

Median Home Value:
$134,646

Tallassee, AL HOME PRICES

Value Range
> $1,103,000 0.4
$827,001 - $1,103,000 0.3
$551,001 - $827,000 0.0
$441,001 - $551,000 2.4
$331,001 - $441,000 3.4
$221,001 - $331,000 19.2
$110,001 - $221,000 28.8
$55,001 - $110,000 27.5
$0 - $55,000 17.9

High for AL
Average for Nation

Value Relative to Nation Value Relative to State
58.3533407507173 25.25

Number Of Homes And Apartments:
2,032

Rent & Ownership

 

Average Market Rent:
$655 / per month

Homeownership Rate

Homeownership
Owners 50.44
Renters 49.56
Vacant 11.84

Housing Market Details

 

Age of Homes

AGE OF Tallassee HOMES
2000 or Newer 13.5
1970 - 1999 31.3
1940 - 1969 35.7
1939 or Older 19.5

Types of Homes

TYPE OF Tallassee HOMES
Single-Family 74.7
Townhomes 2.0
Small Apt. Buildings 11.1
Apt. Complexes 7.9
Mobile Homes 4.2
Other 0.0

Home Size

SIZE OF Tallassee HOMES
No Bedroom 0.00
1 Bedroom 11.02
2 Bedrooms 27.64
3 Bedrooms 50.07
4 Bedrooms 9.24
5 or more bedrooms 2.04

Tallassee 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
48.08% 2.34% 9 6
* 10 is highest

Popular Neighborhoods in Tallassee

Zip Codes in Tallassee, AL