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 4,708, 1,728 total housing units (homes and apartments), and a median house value of $123,052, house prices in Piedmont are some of the most affordable in Alabama as well as the nation.
Single-family detached homes are the single most common housing type in Piedmont, accounting for 80.67% of the city's housing units. Other types of housing that are prevalent in Piedmont include duplexes, homes converted to apartments or other small apartment buildings ( 10.74%), large apartment complexes or high rise apartments ( 3.17%), and a few row houses and other attached homes ( 2.75%).
The most prevalent building size and type in Piedmont are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 61.62% owning and 38.38% renting.
At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Piedmont's housing was primarily built during this period, from the '40s through the '60s. A full 54.81% of the city's housing hails from this era. Other housing ages represented in Piedmont include homes built between 1970-1999 ( 28.71%) and housing constructed before 1939 ( 10.55%). There's also some housing in Piedmont built between 2000 and later ( 5.93%).
Vacant housing appears to be an issue in Piedmont. Fully 19.33% of the housing stock is classified as vacant. Left unchecked, vacant Piedmont homes and apartments can be a drag on the real estate market, holding Piedmont 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 Piedmont have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 92.74%, which ranks in the top 50% nationwide. This equates to an annual average Piedmont house appreciation rate of 6.78%.
Appreciation rates are so strong in Piedmont that despite a nationwide downturn in the housing market, Piedmont real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Piedmont appreciation rates continue to be some of the highest in America, at 17.66%, which is higher than appreciation rates in 98.73% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Piedmont. Piedmont appreciation rates in the latest quarter were at -3.56%, which equates to an annual appreciation rate of -13.50%.
Notably, Piedmont's appreciation rate in the latest quarter is one of the lowest in America.
Relative to Alabama, our data show that Piedmont's latest annual appreciation rate is higher than 90% of the other cities and towns in Alabama.
$123,052
for Alabama
for nation
1,728
$1,220 / per month