Wetumpka, AL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Wetumpka Neighborhoods Since 2000




Wetumpka, AL Real Estate Data


Wetumpka Housing Market Information

With a population of 7,994, 2,591 total housing units (homes and apartments), and a median house value of $112,903, 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 76.59% of the city's housing units. Other types of housing that are prevalent in Wetumpka include duplexes, homes converted to apartments or other small apartment buildings ( 9.65%), large apartment complexes or high rise apartments ( 8.24%), and a few mobile homes or trailers ( 2.69%).

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 52.13% owning and 47.87% 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 ( 27.25%). A lesser amount of the housing stock also hails from between 1940-1969 ( 24.59%). There's also some housing in Wetumpka built before 1939 ( 8.91%).

Vacant housing appears to be an issue in Wetumpka. Fully 12.85% 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 -0.01% during the period.

Appreciation rates are so strong in Wetumpka that despite a nationwide downturn in the housing market, Wetumpka real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Wetumpka appreciation rates continue to be some of the highest in America, at 5.75%, which is higher than appreciation rates in 70.76% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Wetumpka. Wetumpka appreciation rates in the latest quarter were at -0.91%, which equates to an annual appreciation rate of -3.59%.

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 80% of the other cities and towns in Alabama.

Average Home Values

 

Median Home Value:
$112,903

Wetumpka, AL HOME PRICES

Value Range
> $1,043,000 0.4
$783,001 - $1,043,000 0.1
$521,001 - $783,000 0.1
$417,001 - $521,000 0.2
$313,001 - $417,000 2.2
$209,001 - $313,000 15.7
$104,001 - $209,000 46.1
$52,001 - $104,000 18.7
$0 - $52,000 16.4

Average for AL
Low for Nation

Value Relative to Nation Value Relative to State
69.3835696706903 42.25

Number Of Homes And Apartments:
2,591

Rent & Ownership

 

Average Market Rent:
$1,073 / per month

Homeownership Rate

Homeownership
Owners 52.13
Renters 47.87
Vacant 12.85

Housing Market Details

 

Age of Homes

AGE OF Wetumpka HOMES
2000 or Newer 27.2
1970 - 1999 39.3
1940 - 1969 24.6
1939 or Older 8.9

Types of Homes

TYPE OF Wetumpka HOMES
Single-Family 76.6
Townhomes 1.3
Small Apt. Buildings 9.7
Apt. Complexes 8.2
Mobile Homes 2.7
Other 1.5

Home Size

SIZE OF Wetumpka HOMES
No Bedroom 0.67
1 Bedroom 9.72
2 Bedrooms 17.52
3 Bedrooms 57.82
4 Bedrooms 12.24
5 or more bedrooms 2.02

Wetumpka Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
AL*
Compared To
America*
Latest Quarter:
2016 Q3 - 2016 Q4
Last 12 Months:
2015 Q4 - 2016 Q4
Last 2 Years:
2014 Q4 - 2016 Q4
Last 5 Years:
2011 Q4 - 2016 Q4
Last 10 Years:
2006 Q4 - 2016 Q4
Since 2000:
2000 Q1 - 2016 Q4
25.41% 1.32% 4 3
* 10 is highest