Alcoa, TN
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Alcoa, TN Real Estate Data


Alcoa Housing Market Information

With a population of 9,316, 3,718 total housing units (homes and apartments), and a median house value of $147,804, Alcoa 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 Alcoa, accounting for 75.13% of the city's housing units. Other types of housing that are prevalent in Alcoa include large apartment complexes or high rise apartments ( 13.58%), mobile homes or trailers ( 5.05%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 4.37%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Alcoa. Owner-occupied housing accounts for 66.62% of Alcoa's homes, and 50.20% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Alcoa 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 Alcoa built between 1940-1969 ( 34.12%). A lesser amount of the housing stock also hails from before 1939 ( 15.38%). There's also some housing in Alcoa built between 2000 and later ( 9.33%).

Vacant housing appears to be an issue in Alcoa. Fully 13.51% of the housing stock is classified as vacant. Left unchecked, vacant Alcoa homes and apartments can be a drag on the real estate market, holding Alcoa 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.

Alcoa Home Appreciation Rates

Appreciation rates for homes in Alcoa have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 3.18%, which ranks in the top 50% nationwide. This equates to an annual average Alcoa house appreciation rate of 0.31%.

Over the last year, Alcoa appreciation rates have trailed the rest of the nation. In the last twelve months, Alcoa's appreciation rate has been 4.35%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Alcoa were at 1.48%, which equates to an annual appreciation rate of 6.04%.

Relative to Tennessee, our data show that Alcoa's latest annual appreciation rate is lower than 60% of the other cities and towns in Tennessee.

Average Home Values

 

Median Home Value:
$147,804

Alcoa, TN HOME PRICES

Value Range
> $1,101,000 0.6
$826,001 - $1,101,000 0.1
$551,001 - $826,000 1.2
$441,001 - $551,000 1.7
$330,001 - $441,000 4.5
$220,001 - $330,000 12.5
$110,001 - $220,000 39.9
$55,001 - $110,000 26.8
$0 - $55,000 12.6

High for TN
Average for Nation

Value Relative to Nation Value Relative to State
51.9031445804298 31.1224489795918

Number Of Homes And Apartments:
3,718

Rent & Ownership

 

Average Market Rent:
$862 / per month

Homeownership Rate

Homeownership
Owners 66.62
Renters 33.38
Vacant 13.51

Housing Market Details

 

Age of Homes

AGE OF Alcoa HOMES
2000 or Newer 9.3
1970 - 1999 41.2
1940 - 1969 34.1
1939 or Older 15.4

Types of Homes

TYPE OF Alcoa HOMES
Single-Family 75.1
Townhomes 1.9
Small Apt. Buildings 4.4
Apt. Complexes 13.6
Mobile Homes 5.0
Other 0.0

Home Size

SIZE OF Alcoa HOMES
No Bedroom 0.65
1 Bedroom 6.86
2 Bedrooms 40.38
3 Bedrooms 40.29
4 Bedrooms 9.91
5 or more bedrooms 1.91

Alcoa Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
TN*
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
36.25% 1.84% 6 4
* 10 is highest