Tallassee, AL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Tallassee, AL Real Estate Data


Tallassee Housing Market Information

With 4,778 people, 2,155 houses or apartments, and a median cost of homes of $125,897, 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 77.67% 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 ( 9.45%), large apartment complexes or high rise apartments ( 8.53%), and a few mobile homes or trailers ( 2.50%).

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 50.61% owning and 49.39% 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 35.20% of the city's housing hails from this era. Other housing ages represented in Tallassee include homes built before 1939 ( 28.82%) and housing constructed between 1970-1999 ( 23.37%). There's also some housing in Tallassee built between 2000 and later ( 12.61%).

Vacant housing appears to be an issue in Tallassee. Fully 17.18% 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

Real estate appreciation rates in Tallassee's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.53% during the period.

Over the last year, Tallassee appreciation rates have trailed the rest of the nation. In the last twelve months, Tallassee's appreciation rate has been 0.28%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Tallassee were at -1.68%, which equates to an annual appreciation rate of -6.55%.

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 lower than 70% of the other cities and towns in Alabama.

Average Home Values

 

Median Home Value:
$125,897

Tallassee, AL HOME PRICES

Value Range
> $1,032,000 0.0
$774,001 - $1,032,000 0.3
$516,001 - $774,000 0.5
$413,001 - $516,000 1.9
$310,001 - $413,000 3.2
$206,001 - $310,000 17.6
$103,001 - $206,000 28.3
$52,001 - $103,000 30.4
$0 - $52,000 17.4

High for AL
Low for Nation

Value Relative to Nation Value Relative to State
61.8188210476972 30.25

Number Of Homes And Apartments:
2,155

Rent & Ownership

 

Average Market Rent:
$781 / per month

Homeownership Rate

Homeownership
Owners 50.61
Renters 49.39
Vacant 17.18

Housing Market Details

 

Age of Homes

AGE OF Tallassee HOMES
2000 or Newer 12.6
1970 - 1999 23.4
1940 - 1969 35.2
1939 or Older 28.8

Types of Homes

TYPE OF Tallassee HOMES
Single-Family 77.7
Townhomes 1.8
Small Apt. Buildings 9.5
Apt. Complexes 8.5
Mobile Homes 2.5
Other 0.0

Home Size

SIZE OF Tallassee HOMES
No Bedroom 0.00
1 Bedroom 7.72
2 Bedrooms 31.78
3 Bedrooms 45.96
4 Bedrooms 10.18
5 or more bedrooms 4.34

Tallassee 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
27.90% 1.44% 5 3
* 10 is highest

Popular Neighborhoods in Tallassee

Zip Codes in Tallassee, AL