Algona, IA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Algona, IA 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 Q1 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

Algona Housing Market Information

With 5,470 people, 2,532 houses or apartments, and a median cost of homes of $128,567, house prices in Algona are solidly below the national average.

Single-family detached homes are the single most common housing type in Algona, accounting for 77.17% of the city's housing units. Other types of housing that are prevalent in Algona include large apartment complexes or high rise apartments ( 15.00%), duplexes, homes converted to apartments or other small apartment buildings ( 5.30%), and a few row houses and other attached homes ( 2.54%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Algona. Owner-occupied housing accounts for 71.99% of Algona's homes, and 55.37% have either three or four bedrooms, which is average sized relative to America.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Algona's housing was primarily built during this period, from the '40s through the '60s. A full 30.82% of the city's housing hails from this era. Other housing ages represented in Algona include homes built before 1939 ( 30.46%) and housing constructed between 1970-1999 ( 29.81%). There's also some housing in Algona built between 2000 and later ( 8.91%).

Algona Home Appreciation Rates

In the last 10 years, Algona has experienced some of the highest home appreciation rates of any community in the nation. Algona real estate appreciated 28.29% over the last ten years, which is an average annual home appreciation rate of 2.52%, putting Algona in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Algona definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

Over the last year, Algona appreciation rates have trailed the rest of the nation. In the last twelve months, Algona's appreciation rate has been 0.06%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Algona were at 0.99%, which equates to an annual appreciation rate of 4.00%.

Relative to Iowa, our data show that Algona's latest annual appreciation rate is lower than 90% of the other cities and towns in Iowa.

Average Home Values

 

Median Home Value:
$128,567

Algona, IA HOME PRICES

Value Range
> $1,119,000 0.0
$839,001 - $1,119,000 0.0
$559,001 - $839,000 1.4
$447,001 - $559,000 1.6
$336,001 - $447,000 3.9
$224,001 - $336,000 11.6
$112,001 - $224,000 32.7
$56,001 - $112,000 39.0
$0 - $56,000 9.8

Average for IA
Low for Nation

Value Relative to Nation Value Relative to State
60.6586194773233 46.6666666666667

Number Of Homes And Apartments:
2,532

Algona Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
IA*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
49.79% 2.37% 6 6
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$736 / per month

Homeownership Rate

Homeownership
Owners 71.99
Renters 28.01
Vacant 9.38

Housing Market Details

 

Age of Homes

AGE OF Algona HOMES
2000 or Newer 8.9
1970 - 1999 29.8
1940 - 1969 30.8
1939 or Older 30.5

Types of Homes

TYPE OF Algona HOMES
Single-Family 77.2
Townhomes 2.5
Small Apt. Buildings 5.3
Apt. Complexes 15.0
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Algona HOMES
No Bedroom 0.86
1 Bedroom 8.41
2 Bedrooms 29.78
3 Bedrooms 35.15
4 Bedrooms 20.22
5 or more bedrooms 5.58

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Zip Codes in Algona, IA