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 809 people, 308 houses or apartments, and a median cost of homes of $142,814, house prices in Wedowee are solidly below the national average.
Single-family detached homes are the single most common housing type in Wedowee, accounting for 59.73% of the town's housing units. Other types of housing that are prevalent in Wedowee include large apartment complexes or high rise apartments ( 15.62%), duplexes, homes converted to apartments or other small apartment buildings ( 13.42%), and a few mobile homes or trailers ( 11.23%).
The most prevalent building size and type in Wedowee are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 52.13% owning and 47.87% renting.
There is a lot of housing in Wedowee 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 Wedowee built between 1940-1969 ( 27.40%). A lesser amount of the housing stock also hails from between 2000 and later ( 16.99%). There's also some housing in Wedowee built before 1939 ( 10.96%).
Vacant housing appears to be an issue in Wedowee. Fully 15.62% of the housing stock is classified as vacant. Left unchecked, vacant Wedowee homes and apartments can be a drag on the real estate market, holding Wedowee 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 Wedowee over the last then years, as home values have seen a decline of 18.04% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Wedowee home appreciation rates at 2.19%, which equates to an annual appreciation rate of 9.03%.
Over the last year, Wedowee appreciation rates have trailed the rest of the nation. In the last twelve months, Wedowee's appreciation rate has been 2.83%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Wedowee were at 2.19%, which equates to an annual appreciation rate of 9.03%.
Importantly, this makes Wedowee one of the highest appreciating communities in the nation for the latest quarter, and may signal the town's near-future real estate investment strength.
Relative to Alabama, our data show that Wedowee's latest annual appreciation rate is lower than 50% of the other cities and towns in Alabama.
|$806,001 - $1,075,000||0.7|
|$537,001 - $806,000||3.2|
|$429,001 - $537,000||0.8|
|$322,001 - $429,000||7.6|
|$215,001 - $322,000||13.6|
|$108,001 - $215,000||20.0|
|$54,001 - $108,000||26.3|
|$0 - $54,000||24.9|
|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 Wedowee HOMES|
|2000 or Newer||17.0|
|1970 - 1999||44.7|
|1940 - 1969||27.4|
|1939 or Older||11.0|
|TYPE OF Wedowee HOMES|
|Small Apt. Buildings||13.4|
|SIZE OF Wedowee HOMES|
|5 or more bedrooms||0.27|