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 941 people, 458 houses or apartments, and a median cost of homes of $160,041, house prices in Altoona are solidly below the national average.
Single-family detached homes are the single most common housing type in Altoona, accounting for 59.51% of the town's housing units. Other types of housing that are prevalent in Altoona include mobile homes or trailers ( 18.31%), large apartment complexes or high rise apartments ( 12.68%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 9.51%).
The most prevalent building size and type in Altoona are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 61.36% owning and 38.64% renting.
There is a lot of housing in Altoona 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 Altoona built between 1940-1969 ( 29.23%). A lesser amount of the housing stock also hails from between 2000 and later ( 14.44%). There's also some housing in Altoona built before 1939 ( 10.74%).
Vacant housing appears to be an issue in Altoona. Fully 19.37% of the housing stock is classified as vacant. Left unchecked, vacant Altoona homes and apartments can be a drag on the real estate market, holding Altoona 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.
Some of the lowest real estate appreciation rates in America over the last ten years have been in Altoona, where house values have increased just 55.45%, which is annualized rate of 4.51%. This rate is lower than the appreciation rate found in 90% of the cities and towns in America.
Over the last year, Altoona appreciation rates have trailed the rest of the nation. In the last twelve months, Altoona's appreciation rate has been 4.69%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Altoona were at 0.34%, which equates to an annual appreciation rate of 1.37%.
Notably, Altoona's appreciation rate in the latest quarter is one of the lowest in America.
Relative to Alabama, our data show that Altoona's latest annual appreciation rate is higher than 60% of the other cities and towns in Alabama.
$160,041
for Alabama
for nation
458
$1,125 / per month