Gadsden, AL Real Estate Market

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 Q4 2020. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Gadsden, AL Housing Market Trends

With 35,000 people, 13,766 houses or apartments, and a median cost of homes of $83,126, house prices in Gadsden are some of the most affordable in Alabama as well as the nation.

Single-family detached homes are the single most common housing type in Gadsden, accounting for 76.82% of the city's housing units. Other types of housing that are prevalent in Gadsden include large apartment complexes or high rise apartments ( 11.72%), duplexes, homes converted to apartments or other small apartment buildings ( 8.84%), and a few mobile homes or trailers ( 1.83%).

The most prevalent building size and type in Gadsden are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 56.92% owning and 43.08% renting.

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. Gadsden's housing was primarily built during this period, from the '40s through the '60s. A full 56.16% of the city's housing hails from this era. Other housing ages represented in Gadsden include homes built between 1970-1999 ( 22.99%) and housing constructed before 1939 ( 16.75%). There's also some housing in Gadsden built between 2000 and later ( 4.11%).

Vacant housing appears to be an issue in Gadsden. Fully 21.50% of the housing stock is classified as vacant. Left unchecked, vacant Gadsden homes and apartments can be a drag on the real estate market, holding Gadsden 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.

Gadsden Home Appreciation Rates

Gadsden's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Gadsden during the period has been just 1.49%, which is lower than 80% of US communities.

Appreciation rates are so strong in Gadsden that despite a nationwide downturn in the housing market, Gadsden real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Gadsden appreciation rates continue to be some of the highest in America, at 6.54%, which is higher than appreciation rates in 76.24% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Gadsden. Gadsden appreciation rates in the latest quarter were at -0.65%, which equates to an annual appreciation rate of -2.57%.

Notably, Gadsden's appreciation rate in the latest quarter is one of the lowest in America.

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

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Gadsden differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Gadsden - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Gadsden real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$83,126

Gadsden, AL HOME PRICES

> $1,167,000
0.5%
0.5%
$875,001 - $1,167,000
0.3%
0.3%
$583,001 - $875,000
0.5%
0.5%
$467,001 - $583,000
0.6%
0.6%
$350,001 - $467,000
2.2%
2.2%
$233,001 - $350,000
6.4%
6.4%
$117,001 - $233,000
20.4%
20.4%
$59,001 - $117,000
39.9%
39.9%
$0 - $59,000
29.1%
29.1%
0.0% 100.0%
% OF HOMES
Value Relative To State

Very Low for Nation

Very Low for AL

Value Relative To Nation

Number Of Homes And Apartments:
13,766

Gadsden Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
AL*
Compared To
America*
Latest Quarter:
2020 Q3 - 2020 Q4
Last 12 Months:
2019 Q4 - 2020 Q4
Last 2 Years:
2018 Q4 - 2020 Q4
Last 5 Years:
2015 Q4 - 2020 Q4
Last 10 Years:
2010 Q4 - 2020 Q4
Since 2000:
2000 Q1 - 2020 Q4
42.28% 1.69%
3
2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$830 / per month

Homeownership Rate

Owners
56.9%
56.9%
Renters
43.1%
43.1%
Vacant
21.5%
21.5%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
4.1%
4.1%
1970 - 1999
23.0%
23.0%
1940 - 1969
56.2%
56.2%
1939 or Older
16.7%
16.7%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
76.8%
76.8%
Townhomes
0.8%
0.8%
Small Apt. Buildings
8.8%
8.8%
Apt. Complexes
11.7%
11.7%
Mobile Homes
1.8%
1.8%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
1.9%
1.9%
1 Bedroom
5.4%
5.4%
2 Bedrooms
35.4%
35.4%
3 Bedrooms
44.9%
44.9%
4 Bedrooms
9.2%
9.2%
5 or more bedrooms
3.2%
3.2%
0.0% 100.0%
% OF HOMES