Wetumpka, AL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Wetumpka, AL Real Estate Data


Wetumpka Housing Market Information

With 7,994 people, 2,437 houses or apartments, and a median cost of homes of $137,128, house prices in Wetumpka are solidly below the national average.

Single-family detached homes are the single most common housing type in Wetumpka, accounting for 76.80% of the city's housing units. Other types of housing that are prevalent in Wetumpka include large apartment complexes or high rise apartments ( 12.62%), duplexes, homes converted to apartments or other small apartment buildings ( 4.90%), and a few mobile homes or trailers ( 3.29%).

The most prevalent building size and type in Wetumpka are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 50.54% owning and 49.46% renting.

There is a lot of housing in Wetumpka 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 Wetumpka built between 2000 and later ( 32.86%). A lesser amount of the housing stock also hails from between 1940-1969 ( 20.23%). There's also some housing in Wetumpka built before 1939 ( 7.68%).

Vacant housing appears to be an issue in Wetumpka. Fully 10.83% of the housing stock is classified as vacant. Left unchecked, vacant Wetumpka homes and apartments can be a drag on the real estate market, holding Wetumpka 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.

Wetumpka Home Appreciation Rates

Real estate appreciation rates in Wetumpka's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 0.10% during the period.

NeighborhoodScout's data show that during the latest twelve months, Wetumpka's appreciation rate, at 4.63%, has been at or slightly above the national average. In the latest quarter, Wetumpka's appreciation rate has been 0.34%, which annualizes to a rate of 1.39%.

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

Relative to Alabama, our data show that Wetumpka's latest annual appreciation rate is higher than 70% of the other cities and towns in Alabama.

Average Home Values

 

Median Home Value:
$137,128

Wetumpka, AL HOME PRICES

Value Range
> $1,025,000 0.0
$768,001 - $1,025,000 0.1
$512,001 - $768,000 0.1
$410,001 - $512,000 0.2
$307,001 - $410,000 1.7
$205,001 - $307,000 17.0
$102,001 - $205,000 48.3
$51,001 - $102,000 17.3
$0 - $51,000 15.3

High for AL
Average for Nation

Value Relative to Nation Value Relative to State
57.1353282192423 23.0

Number Of Homes And Apartments:
2,437

Rent & Ownership

 

Average Market Rent:
$914 / per month

Homeownership Rate

Homeownership
Owners 50.54
Renters 49.46
Vacant 10.83

Housing Market Details

 

Age of Homes

AGE OF Wetumpka HOMES
2000 or Newer 32.9
1970 - 1999 39.2
1940 - 1969 20.2
1939 or Older 7.7

Types of Homes

TYPE OF Wetumpka HOMES
Single-Family 76.8
Townhomes 0.7
Small Apt. Buildings 4.9
Apt. Complexes 12.6
Mobile Homes 3.3
Other 1.6

Home Size

SIZE OF Wetumpka HOMES
No Bedroom 0.59
1 Bedroom 8.23
2 Bedrooms 19.54
3 Bedrooms 56.82
4 Bedrooms 13.10
5 or more bedrooms 1.72

Wetumpka Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
AL*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
27.99% 1.46% 5 3
* 10 is highest