Algoma, WI
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Algoma Neighborhoods Since 2000




Algoma, WI 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

Algoma Housing Market Information

With 3,094 people, 1,384 houses or apartments, and a median cost of homes of $106,115, house prices in Algoma are solidly below the national average.

Single-family detached homes are the single most common housing type in Algoma, accounting for 71.92% of the city's housing units. Other types of housing that are prevalent in Algoma include large apartment complexes or high rise apartments ( 10.88%), duplexes, homes converted to apartments or other small apartment buildings ( 10.16%), and a few mobile homes or trailers ( 4.27%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Algoma. Owner-occupied housing accounts for 65.52% of Algoma's homes, and 60.13% 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. Algoma's housing was primarily built during this period, from the '40s through the '60s. A full 37.28% of the city's housing hails from this era. Other housing ages represented in Algoma include homes built between 1970-1999 ( 27.54%) and housing constructed before 1939 ( 27.42%). There's also some housing in Algoma built between 2000 and later ( 7.76%).

Vacant housing appears to be an issue in Algoma. Fully 16.78% of the housing stock is classified as vacant. Left unchecked, vacant Algoma homes and apartments can be a drag on the real estate market, holding Algoma 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.

Algoma Home Appreciation Rates

Real estate appreciation rates in Algoma's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.63% during the period.

Appreciation rates are so strong in Algoma that despite a nationwide downturn in the housing market, Algoma real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Algoma appreciation rates continue to be some of the highest in America, at 7.64%, which is higher than appreciation rates in 84.96% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Algoma. Algoma appreciation rates in the latest quarter were at 2.24%, which equates to an annual appreciation rate of 9.25%.

Importantly, this makes Algoma one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.

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

Average Home Values

 

Median Home Value:
$106,115

Algoma, WI HOME PRICES

Value Range
> $1,065,000 0.0
$798,001 - $1,065,000 0.0
$532,001 - $798,000 0.0
$426,001 - $532,000 1.3
$320,001 - $426,000 2.3
$213,001 - $320,000 5.7
$107,001 - $213,000 38.8
$53,001 - $107,000 41.7
$0 - $53,000 10.1

Very Low for WI
Low for Nation

Value Relative to Nation Value Relative to State
73.5966248681589 96.5092402464066

Number Of Homes And Apartments:
1,384

Algoma Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
WI*
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
19.03% 1.02% 2 2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$606 / per month

Homeownership Rate

Homeownership
Owners 65.52
Renters 34.48
Vacant 16.78

Housing Market Details

 

Age of Homes

AGE OF Algoma HOMES
2000 or Newer 7.8
1970 - 1999 27.5
1940 - 1969 37.3
1939 or Older 27.4

Types of Homes

TYPE OF Algoma HOMES
Single-Family 71.9
Townhomes 2.8
Small Apt. Buildings 10.2
Apt. Complexes 10.9
Mobile Homes 4.3
Other 0.0

Home Size

SIZE OF Algoma HOMES
No Bedroom 2.47
1 Bedroom 13.65
2 Bedrooms 21.59
3 Bedrooms 44.38
4 Bedrooms 15.75
5 or more bedrooms 2.16

Popular Neighborhoods in Algoma

Zip Codes in Algoma, WI