Union Springs, AL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA



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Union Springs, AL Real Estate Data

Source & Methodology

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.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2019. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2017 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Union Springs Housing Market Information

With a population of 3,550, 1,425 total housing units (homes and apartments), and a median house value of $63,576, house prices in Union Springs are some of the most affordable in Alabama as well as the nation.

Single-family detached homes are the single most common housing type in Union Springs, accounting for 58.85% of the city's housing units. Other types of housing that are prevalent in Union Springs include mobile homes or trailers ( 19.98%), large apartment complexes or high rise apartments ( 14.65%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 4.90%).

The most prevalent building size and type in Union Springs are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 51.47% owning and 48.53% renting.

There is a lot of housing in Union Springs built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Union Springs built between 1940-1969 ( 32.30%). A lesser amount of the housing stock also hails from before 1939 ( 15.07%). There's also some housing in Union Springs built between 2000 and later ( 14.65%).

Vacant housing appears to be an issue in Union Springs. Fully 14.77% of the housing stock is classified as vacant. Left unchecked, vacant Union Springs homes and apartments can be a drag on the real estate market, holding Union Springs 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.

Union Springs Home Appreciation Rates

Homes have actually lost value in Union Springs over the last then years, as home values have seen a decline of 22.17% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Union Springs home appreciation rates at -1.39%, which equates to an annual appreciation rate of -5.44%.

Over the last year, Union Springs appreciation rates have trailed the rest of the nation. In the last twelve months, Union Springs's appreciation rate has been -1.37%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Union Springs were at -1.39%, which equates to an annual appreciation rate of -5.44%.

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

Relative to Alabama, our data show that Union Springs's latest annual appreciation rate is lower than 80% of the other cities and towns in Alabama.

Average Home Values

 

Median Home Value:
$63,576

Union Springs, AL HOME PRICES

Value Range
> $960,000 2.7
$720,001 - $960,000 1.5
$480,001 - $720,000 2.4
$384,001 - $480,000 0.0
$288,001 - $384,000 4.0
$192,001 - $288,000 6.1
$96,001 - $192,000 3.2
$48,001 - $96,000 46.1
$0 - $48,000 34.0

Very Low for AL
Very Low for Nation

Value Relative to Nation Value Relative to State
97.8277372262774 96.5087281795511

Number Of Homes And Apartments:
1,425

Union Springs Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
AL*
Compared To
America*
Latest Quarter:
2018 Q4 - 2019 Q1
Last 12 Months:
2018 Q1 - 2019 Q1
Last 2 Years:
2017 Q1 - 2019 Q1
Last 5 Years:
2014 Q1 - 2019 Q1
Last 10 Years:
2009 Q1 - 2019 Q1
Since 2000:
2000 Q1 - 2019 Q1
22.71% 1.07%
2
1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$832 / per month

Homeownership Rate

Homeownership
Owners 51.47
Renters 48.53
Vacant 14.77

Housing Market Details

 

Age of Homes

AGE OF Union Springs HOMES
2000 or Newer 14.7
1970 - 1999 38.0
1940 - 1969 32.3
1939 or Older 15.1

Types of Homes

TYPE OF Union Springs HOMES
Single-Family 58.9
Townhomes 1.6
Small Apt. Buildings 4.9
Apt. Complexes 14.7
Mobile Homes 20.0
Other 0.0

Home Size

SIZE OF Union Springs HOMES
No Bedroom 0.00
1 Bedroom 9.87
2 Bedrooms 30.80
3 Bedrooms 44.32
4 Bedrooms 13.10
5 or more bedrooms 1.91

Popular Neighborhoods in Union Springs

Popular Communities Near Union Springs, AL

Zip Codes in Union Springs, AL