Vestavia Hills, AL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Vestavia Hills Neighborhoods Since 2000




Vestavia Hills, 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 Q2 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

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

Vestavia Hills Housing Market Information

With a population of 34,162, 13,787 total housing units (homes and apartments), and a median house value of $350,841, Vestavia Hills house prices are not only among the most expensive in Alabama, Vestavia Hills real estate also is some of the most expensive in all of America.

Single-family detached homes are the single most common housing type in Vestavia Hills, accounting for 70.47% of the city's housing units. Other types of housing that are prevalent in Vestavia Hills include large apartment complexes or high rise apartments ( 18.25%), row houses and other attached homes ( 5.90%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 5.07%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Vestavia Hills. Owner-occupied housing accounts for 73.22% of Vestavia Hills's homes, and 61.30% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Vestavia Hills 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 Vestavia Hills built between 1940-1969 ( 34.06%). A lesser amount of the housing stock also hails from between 2000 and later ( 15.22%).

Vestavia Hills Home Appreciation Rates

Appreciation rates for homes in Vestavia Hills have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 10.18%, which ranks in the top 40% nationwide. This equates to an annual average Vestavia Hills house appreciation rate of 0.97%.

NeighborhoodScout's data show that during the latest twelve months, Vestavia Hills's appreciation rate, at 4.89%, has been at or slightly above the national average. In the latest quarter, Vestavia Hills's appreciation rate has been 2.24%, which annualizes to a rate of 9.29%.

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

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Vestavia Hills differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Vestavia Hills - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Vestavia Hills real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$350,841

Vestavia Hills, AL HOME PRICES

Value Range
> $1,158,000 1.6
$868,001 - $1,158,000 5.2
$579,001 - $868,000 16.5
$463,001 - $579,000 13.1
$348,001 - $463,000 22.3
$231,001 - $348,000 24.4
$116,001 - $231,000 12.0
$58,001 - $116,000 2.7
$0 - $58,000 2.2

Very High for AL
Very High for Nation

Value Relative to Nation Value Relative to State
12.9047368112887 1.0

Number Of Homes And Apartments:
13,787

Vestavia Hills Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
AL*
Compared To
America*
Latest Quarter:
2017 Q1 - 2017 Q2
Last 12 Months:
2016 Q2 - 2017 Q2
Last 2 Years:
2015 Q2 - 2017 Q2
Last 5 Years:
2012 Q2 - 2017 Q2
Last 10 Years:
2007 Q2 - 2017 Q2
Since 2000:
2000 Q1 - 2017 Q2
60.44% 2.74% 10 7
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,436 / per month

Homeownership Rate

Homeownership
Owners 73.22
Renters 26.78
Vacant 6.34

Housing Market Details

 

Age of Homes

AGE OF Vestavia Hills HOMES
2000 or Newer 15.2
1970 - 1999 50.1
1940 - 1969 34.1
1939 or Older 0.6

Types of Homes

TYPE OF Vestavia Hills HOMES
Single-Family 70.5
Townhomes 5.9
Small Apt. Buildings 5.1
Apt. Complexes 18.3
Mobile Homes 0.3
Other 0.0

Home Size

SIZE OF Vestavia Hills HOMES
No Bedroom 2.00
1 Bedroom 4.76
2 Bedrooms 18.24
3 Bedrooms 32.06
4 Bedrooms 29.25
5 or more bedrooms 13.70