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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With 10,323 people, 3,977 houses or apartments, and a median cost of homes of $227,828, house prices in Valley are solidly below the national average.
Single-family detached homes are the single most common housing type in Valley, accounting for 66.07% of the city's housing units. Other types of housing that are prevalent in Valley include large apartment complexes or high rise apartments ( 26.13%), mobile homes or trailers ( 5.19%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 2.46%).
People in Valley primarily live in small (one, two or no bedroom) single-family detached homes. Valley has a mixture of owner-occupied and renter-occupied housing.
Valley homes and real estate are some of the newest in America. 30.83% of Valley's housing was built since 2000, making the city have a very new look and feel. If you like the amenities of newer homes and subdivisions, then you will probably like what the Valley real estate market has to offer. Quite a bit of the housing here was also built between 1940-1969 ( 27.98%), and between 1970-1999 ( 24.88%). There's also some housing in Valley built before 1939 ( 16.32%).
Vacant housing appears to be an issue in Valley. Fully 18.37% of the housing stock is classified as vacant. Left unchecked, vacant Valley homes and apartments can be a drag on the real estate market, holding Valley 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.
Appreciation rates for homes in Valley have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 93.34%, which ranks in the top 50% nationwide. This equates to an annual average Valley house appreciation rate of 6.81%.
Appreciation rates are so strong in Valley that despite a nationwide downturn in the housing market, Valley real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Valley appreciation rates continue to be some of the highest in America, at 8.31%, which is higher than appreciation rates in 73.30% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Valley. Valley appreciation rates in the latest quarter were at -1.79%, which equates to an annual appreciation rate of -6.98%.
Notably, Valley's appreciation rate in the latest quarter is one of the lowest in America.
Relative to Alabama, our data show that Valley's latest annual appreciation rate is higher than 80% of the other cities and towns in Alabama.
$227,828
for Alabama
for nation
3,977
$1,634 / per month