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 10,771 people, 3,493 houses or apartments, and a median cost of homes of $191,308, house prices in Russellville are solidly below the national average.
Single-family detached homes are the single most common housing type in Russellville, accounting for 78.96% of the city's housing units. Other types of housing that are prevalent in Russellville include large apartment complexes or high rise apartments ( 12.64%), duplexes, homes converted to apartments or other small apartment buildings ( 4.99%), and a few mobile homes or trailers ( 2.94%).
The most prevalent building size and type in Russellville are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 63.36% owning and 36.64% renting.
There is a lot of housing in Russellville 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 Russellville built between 1940-1969 ( 32.54%). A lesser amount of the housing stock also hails from between 2000 and later ( 17.18%). There's also some housing in Russellville built before 1939 ( 6.78%).
Vacant housing appears to be an issue in Russellville. Fully 12.91% of the housing stock is classified as vacant. Left unchecked, vacant Russellville homes and apartments can be a drag on the real estate market, holding Russellville 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.
Russellville's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Russellville during the period has been just 5.13%, which is lower than 80% of US communities.
Over the last year, Russellville appreciation rates have trailed the rest of the nation. In the last twelve months, Russellville's appreciation rate has been -1.18%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Russellville were at -1.79%, which equates to an annual appreciation rate of -6.98%.
Notably, Russellville's appreciation rate in the latest quarter is one of the lowest in America.
Relative to Alabama, our data show that Russellville's latest annual appreciation rate is lower than 90% of the other cities and towns in Alabama.
$191,308
for Alabama
for nation
3,493
$1,491 / per month