Reece City, 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 Q2 2021. 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

Reece City, AL Housing Market Trends

With 627 people, 252 houses or apartments, and a median cost of homes of $108,467, house prices in Reece City are solidly below the national average.

Single-family detached homes are the single most common housing type in Reece City, accounting for 87.17% of the town's housing units. Other types of housing that are prevalent in Reece City include mobile homes or trailers ( 12.17%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Reece City. Owner-occupied housing accounts for 82.14% of Reece City's homes, and 66.45% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Reece City 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 Reece City built between 1940-1969 ( 41.12%). A lesser amount of the housing stock also hails from between 2000 and later ( 10.86%). There's also some housing in Reece City built before 1939 ( 4.93%).

Vacant housing appears to be an issue in Reece City. Fully 17.11% of the housing stock is classified as vacant. Left unchecked, vacant Reece City homes and apartments can be a drag on the real estate market, holding Reece City 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.

Reece City Home Appreciation Rates

Real estate appreciation rates in Reece City's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 2.96% during the period.

Over the last year, Reece City appreciation rates have trailed the rest of the nation. In the last twelve months, Reece City's appreciation rate has been 7.16%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Reece City were at 4.28%, which equates to an annual appreciation rate of 18.25%.

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

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

Average Home Values

 

Median Home Value:
$108,467

Reece City, AL HOME PRICES

> $1,309,000
0.0%
0.0%
$981,001 - $1,309,000
1.2%
1.2%
$655,001 - $981,000
0.3%
0.3%
$523,001 - $655,000
0.0%
0.0%
$393,001 - $523,000
3.7%
3.7%
$262,001 - $393,000
7.2%
7.2%
$131,001 - $262,000
27.6%
27.6%
$66,001 - $131,000
25.2%
25.2%
$0 - $66,000
34.8%
34.8%
0.0% 100.0%
% OF HOMES
Value Relative To State

Very Low for Nation

Low for AL

Value Relative To Nation

Number Of Homes And Apartments:
252

Reece City Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
AL*
Compared To
America*
Latest Quarter:
2021 Q1 - 2021 Q2
Last 12 Months:
2020 Q2 - 2021 Q2
Last 2 Years:
2019 Q2 - 2021 Q2
Last 5 Years:
2016 Q2 - 2021 Q2
Last 10 Years:
2011 Q2 - 2021 Q2
Since 2000:
2000 Q1 - 2021 Q2
62.70% 2.29%
6
3
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,005 / per month

Homeownership Rate

Owners
82.1%
82.1%
Renters
17.9%
17.9%
Vacant
17.1%
17.1%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
10.9%
10.9%
1970 - 1999
43.1%
43.1%
1940 - 1969
41.1%
41.1%
1939 or Older
4.9%
4.9%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
87.2%
87.2%
Townhomes
0.7%
0.7%
Small Apt. Buildings
0.0%
0.0%
Apt. Complexes
0.0%
0.0%
Mobile Homes
12.2%
12.2%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
0.0%
0.0%
1 Bedroom
3.3%
3.3%
2 Bedrooms
26.0%
26.0%
3 Bedrooms
54.3%
54.3%
4 Bedrooms
12.2%
12.2%
5 or more bedrooms
4.3%
4.3%
0.0% 100.0%
% OF HOMES

Popular Neighborhoods in Reece City

Zip Codes in Reece City, AL