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 a population of 3,465, 1,425 total housing units (homes and apartments), and a median house value of $65,525, 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.
Homes have actually lost value in Union Springs over the last then years, as home values have seen a decline of 17.10% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Union Springs home appreciation rates at 0.53%, which equates to an annual appreciation rate of 2.13%.
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 -0.82%, 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 0.53%, which equates to an annual appreciation rate of 2.13%.
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 90% of the other cities and towns in Alabama.
|$743,001 - $990,000||4.0|
|$495,001 - $743,000||2.0|
|$396,001 - $495,000||1.1|
|$297,001 - $396,000||7.2|
|$198,001 - $297,000||4.9|
|$99,001 - $198,000||2.5|
|$49,001 - $99,000||38.9|
|$0 - $49,000||38.4|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
2019 Q2 - 2019 Q3
Last 12 Months:
2018 Q3 - 2019 Q3
Last 2 Years:
2017 Q3 - 2019 Q3
Last 5 Years:
2014 Q3 - 2019 Q3
Last 10 Years:
2009 Q3 - 2019 Q3
2000 Q1 - 2019 Q3
|* 10 is highest|
|AGE OF Union Springs HOMES|
|2000 or Newer||14.7|
|1970 - 1999||38.0|
|1940 - 1969||32.3|
|1939 or Older||15.1|
|TYPE OF Union Springs HOMES|
|Small Apt. Buildings||4.9|
|SIZE OF Union Springs HOMES|
|5 or more bedrooms||1.91|