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 5,982, 2,536 total housing units (homes and apartments), and a median house value of $373,150, Laceys Spring real estate is some of the most expensive in Alabama, although Laceys Spring home values aren't among America's most expensive.
Single-family detached homes are the single most common housing type in Laceys Spring, accounting for 68.56% of the town's housing units. Other types of housing that are prevalent in Laceys Spring include mobile homes or trailers ( 27.65%), large apartment complexes or high rise apartments ( 3.17%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Laceys Spring. Owner-occupied housing accounts for 86.97% of Laceys Spring's homes, and 72.52% have either three or four bedrooms, which is average sized relative to America.
There is a lot of housing in Laceys Spring 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 Laceys Spring built between 2000 and later ( 30.18%). A lesser amount of the housing stock also hails from between 1940-1969 ( 14.17%). There's also some housing in Laceys Spring built before 1939 ( 3.30%).
Vacant housing appears to be an issue in Laceys Spring. Fully 11.50% of the housing stock is classified as vacant. Left unchecked, vacant Laceys Spring homes and apartments can be a drag on the real estate market, holding Laceys Spring 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.
In the last 10 years, Laceys Spring has experienced some of the highest home appreciation rates of any community in the nation. Laceys Spring real estate appreciated 120.78% over the last ten years, which is an average annual home appreciation rate of 8.24%, putting Laceys Spring in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Laceys Spring definitely has a track record of being one of the best long term real estate investments in America through the last ten years.
Appreciation rates are so strong in Laceys Spring that despite a nationwide downturn in the housing market, Laceys Spring real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Laceys Spring appreciation rates continue to be some of the highest in America, at 19.64%, which is higher than appreciation rates in 99.37% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Laceys Spring. Laceys Spring appreciation rates in the latest quarter were at 2.75%, which equates to an annual appreciation rate of 11.48%.
Relative to Alabama, our data show that Laceys Spring's latest annual appreciation rate is higher than 90% of the other cities and towns in Alabama.
$373,150
for Alabama
for nation
2,536
$561 / per month