Albion, NE
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Albion, NE 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

Albion Housing Market Information

With a population of 1,589, 696 total housing units (homes and apartments), and a median house value of $124,165, house prices in Albion are solidly below the national average.

Single-family detached homes are the single most common housing type in Albion, accounting for 80.94% of the city's housing units. Other types of housing that are prevalent in Albion include duplexes, homes converted to apartments or other small apartment buildings ( 8.88%), large apartment complexes or high rise apartments ( 6.92%), and a few mobile homes or trailers ( 1.83%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Albion. Owner-occupied housing accounts for 70.27% of Albion's homes, and 54.96% have either three or four bedrooms, which is average sized relative to America.

The housing in Albion was primarily built before 1939 ( 37.21%), making the housing stock in Albion some of the oldest overall in America, although there is a range of ages of homes in Albion. The next most important housing age is between 1970-1999 ( 31.20%), followed by between 1940-1969 ( 22.72%). There's also some housing in Albion built between 2000 and later ( 8.88%).

Albion Home Appreciation Rates

In the last 10 years, Albion has experienced some of the highest home appreciation rates of any community in the nation. Albion real estate appreciated 37.78% over the last ten years, which is an average annual home appreciation rate of 3.26%, putting Albion in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Albion definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

NeighborhoodScout's data show that during the latest twelve months, Albion's appreciation rate, at 5.47%, has been at or slightly above the national average. In the latest quarter, Albion's appreciation rate has been 0.99%, which annualizes to a rate of 4.02%.

Relative to Nebraska, our data show that Albion's latest annual appreciation rate is lower than 50% of the other cities and towns in Nebraska.

Average Home Values

 

Median Home Value:
$124,165

Albion, NE HOME PRICES

Value Range
> $1,157,000 0.0
$867,001 - $1,157,000 0.0
$578,001 - $867,000 0.0
$462,001 - $578,000 0.0
$347,001 - $462,000 3.4
$231,001 - $347,000 10.9
$116,001 - $231,000 41.9
$58,001 - $116,000 29.5
$0 - $58,000 14.3

Average for NE
Low for Nation

Value Relative to Nation Value Relative to State
63.031759053088 46.1538461538462

Number Of Homes And Apartments:
696

Albion Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
NE*
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
70.79% 3.15% 7 8
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$700 / per month

Homeownership Rate

Homeownership
Owners 70.27
Renters 29.73
Vacant 9.14

Housing Market Details

 

Age of Homes

AGE OF Albion HOMES
2000 or Newer 8.9
1970 - 1999 31.2
1940 - 1969 22.7
1939 or Older 37.2

Types of Homes

TYPE OF Albion HOMES
Single-Family 80.9
Townhomes 1.4
Small Apt. Buildings 8.9
Apt. Complexes 6.9
Mobile Homes 1.8
Other 0.0

Home Size

SIZE OF Albion HOMES
No Bedroom 1.31
1 Bedroom 11.23
2 Bedrooms 27.68
3 Bedrooms 35.90
4 Bedrooms 19.06
5 or more bedrooms 4.83

Popular Neighborhoods in Albion

Popular Communities Near Albion, NE

Zip Codes in Albion, NE