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 a population of 10,292, 3,740 total housing units (homes and apartments), and a median house value of $221,948, house prices in Boaz are solidly below the national average.
Single-family detached homes are the single most common housing type in Boaz, accounting for 73.36% of the city's housing units. Other types of housing that are prevalent in Boaz include large apartment complexes or high rise apartments ( 14.04%), duplexes, homes converted to apartments or other small apartment buildings ( 6.73%), and a few mobile homes or trailers ( 5.50%).
The most prevalent building size and type in Boaz are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 64.39% owning and 35.61% renting.
There is a lot of housing in Boaz 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 Boaz built between 1940-1969 ( 30.25%). A lesser amount of the housing stock also hails from between 2000 and later ( 13.20%). There's also some housing in Boaz built before 1939 ( 5.17%).
Vacant housing appears to be an issue in Boaz. Fully 12.90% of the housing stock is classified as vacant. Left unchecked, vacant Boaz homes and apartments can be a drag on the real estate market, holding Boaz 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.
Real estate appreciation rates in Boaz's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 6.19% during the period.
Over the last year, Boaz appreciation rates have trailed the rest of the nation. In the last twelve months, Boaz's appreciation rate has been 3.73%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Boaz were at -1.57%, which equates to an annual appreciation rate of -6.13%.
Notably, Boaz's appreciation rate in the latest quarter is one of the lowest in America.
Relative to Alabama, our data show that Boaz's latest annual appreciation rate is higher than 50% 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 Boaz differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Boaz - 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 Boaz real estate investment or home purchase decisions.
$221,948
for Alabama
for nation
3,740
$1,117 / per month