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 about Scout's Real Estate Data
With a population of 1,226, 338 total housing units (homes and apartments), and a median house value of $296,729, Reeds Spring real estate and house prices are near the national average for all cities and towns.
Single-family detached homes are the single most common housing type in Reeds Spring, accounting for 64.99% of the city's housing units. Other types of housing that are prevalent in Reeds Spring include duplexes, homes converted to apartments or other small apartment buildings ( 20.42%), mobile homes or trailers ( 7.69%), and a few large apartment complexes or high rise apartments ( 5.31%).
The most prevalent building size and type in Reeds Spring are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 62.43% owning and 37.57% renting.
There is a lot of housing in Reeds Spring 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 Reeds Spring built between 2000 and later ( 35.28%). A lesser amount of the housing stock also hails from between 1940-1969 ( 6.90%). There's also some housing in Reeds Spring built before 1939 ( 3.45%).
Vacant housing appears to be an issue in Reeds Spring. Fully 10.34% of the housing stock is classified as vacant. Left unchecked, vacant Reeds Spring homes and apartments can be a drag on the real estate market, holding Reeds Spring 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.
Appreciation rates for homes in Reeds Spring have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 83.50%, which ranks in the top 50% nationwide. This equates to an annual average Reeds Spring house appreciation rate of 6.26%.
Appreciation rates are so strong in Reeds Spring that despite a nationwide downturn in the housing market, Reeds Spring real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Reeds Spring appreciation rates continue to be some of the highest in America, at 6.67%, which is higher than appreciation rates in 71.30% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Reeds Spring. Reeds Spring appreciation rates in the latest quarter were at 0.31%, which equates to an annual appreciation rate of 1.23%.
Relative to Missouri, our data show that Reeds Spring's latest annual appreciation rate is higher than 60% of the other cities and towns in Missouri.
$296,729
for Missouri
for nation
338
$1,193 / per month