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 8,474 people, 3,626 houses or apartments, and a median cost of homes of $131,609, house prices in Tuscumbia are solidly below the national average.
Single-family detached homes are the single most common housing type in Tuscumbia, accounting for 73.92% of the city's housing units. Other types of housing that are prevalent in Tuscumbia include duplexes, homes converted to apartments or other small apartment buildings ( 16.34%), large apartment complexes or high rise apartments ( 6.41%), and a few mobile homes or trailers ( 1.88%).
The most prevalent building size and type in Tuscumbia are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 60.58% owning and 39.42% 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. Tuscumbia's housing was primarily built during this period, from the '40s through the '60s. A full 36.86% of the city's housing hails from this era. Other housing ages represented in Tuscumbia include homes built between 1970-1999 ( 34.66%) and housing constructed between 2000 and later ( 18.79%). There's also some housing in Tuscumbia built before 1939 ( 9.69%).
Vacant housing appears to be an issue in Tuscumbia. Fully 13.87% of the housing stock is classified as vacant. Left unchecked, vacant Tuscumbia homes and apartments can be a drag on the real estate market, holding Tuscumbia 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.
In the last 10 years, Tuscumbia has experienced some of the highest home appreciation rates of any community in the nation. Tuscumbia real estate appreciated 18.53% over the last ten years, which is an average annual home appreciation rate of 1.71%, putting Tuscumbia in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Tuscumbia definitely has a track record of being one of the best long term real estate investments in America through the last ten years.
Over the last year, Tuscumbia appreciation rates have trailed the rest of the nation. In the last twelve months, Tuscumbia's appreciation rate has been 2.72%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Tuscumbia were at 2.37%, which equates to an annual appreciation rate of 9.84%.
Importantly, this makes Tuscumbia one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.
Relative to Alabama, our data show that Tuscumbia's latest annual appreciation rate is lower than 50% of the other cities and towns in Alabama.
|$842,001 - $1,123,000||1.0|
|$561,001 - $842,000||0.7|
|$449,001 - $561,000||1.4|
|$337,001 - $449,000||3.9|
|$224,001 - $337,000||7.6|
|$112,001 - $224,000||36.7|
|$56,001 - $112,000||37.0|
|$0 - $56,000||11.3|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
2017 Q2 - 2017 Q3
Last 12 Months:
2016 Q3 - 2017 Q3
Last 2 Years:
2015 Q3 - 2017 Q3
Last 5 Years:
2012 Q3 - 2017 Q3
Last 10 Years:
2007 Q3 - 2017 Q3
2000 Q1 - 2017 Q3
|* 10 is highest|
|AGE OF Tuscumbia HOMES|
|2000 or Newer||18.8|
|1970 - 1999||34.7|
|1940 - 1969||36.9|
|1939 or Older||9.7|
|TYPE OF Tuscumbia HOMES|
|Small Apt. Buildings||16.3|
|SIZE OF Tuscumbia HOMES|
|5 or more bedrooms||1.38|