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 3,465 people, 1,381 houses or apartments, and a median cost of homes of $77,322, 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 60.49% of the city's housing units. Other types of housing that are prevalent in Union Springs include mobile homes or trailers ( 15.20%), large apartment complexes or high rise apartments ( 14.22%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 8.69%).
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 53.23% owning and 46.77% 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 ( 30.64%). A lesser amount of the housing stock also hails from before 1939 ( 12.58%). There's also some housing in Union Springs built between 2000 and later ( 9.73%).
Vacant housing appears to be an issue in Union Springs. Fully 16.05% 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 1.95% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Union Springs home appreciation rates at 2.66%, which equates to an annual appreciation rate of 11.06%.
NeighborhoodScout's data show that during the latest twelve months, Union Springs's appreciation rate, at 5.60%, has been at or slightly above the national average. In the latest quarter, Union Springs's appreciation rate has been 2.66%, which annualizes to a rate of 11.06%.
Importantly, this makes Union Springs 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 Union Springs's latest annual appreciation rate is lower than 50% of the other cities and towns in Alabama.
|$798,001 - $1,063,000||3.4|
|$532,001 - $798,000||2.5|
|$425,001 - $532,000||1.3|
|$319,001 - $425,000||5.1|
|$213,001 - $319,000||4.8|
|$107,001 - $213,000||14.5|
|$53,001 - $107,000||34.0|
|$0 - $53,000||33.7|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
2019 Q4 - 2020 Q1
Last 12 Months:
2019 Q1 - 2020 Q1
Last 2 Years:
2018 Q1 - 2020 Q1
Last 5 Years:
2015 Q1 - 2020 Q1
Last 10 Years:
2010 Q1 - 2020 Q1
2000 Q1 - 2020 Q1
|* 10 is highest|
|AGE OF Union Springs HOMES|
|2000 or Newer||9.7|
|1970 - 1999||47.1|
|1940 - 1969||30.6|
|1939 or Older||12.6|
|TYPE OF Union Springs HOMES|
|Small Apt. Buildings||8.7|
|SIZE OF Union Springs HOMES|
|5 or more bedrooms||0.00|