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 2,093 people, 747 houses or apartments, and a median cost of homes of $212,348, house prices in Slocomb are solidly below the national average.
Single-family detached homes are the single most common housing type in Slocomb, accounting for 76.05% of the city's housing units. Other types of housing that are prevalent in Slocomb include mobile homes or trailers ( 16.72%), large apartment complexes or high rise apartments ( 4.07%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 3.16%).
The most prevalent building size and type in Slocomb are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 62.25% owning and 37.75% renting.
There is a lot of housing in Slocomb 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 Slocomb built between 1940-1969 ( 31.53%). A lesser amount of the housing stock also hails from between 2000 and later ( 13.79%). There's also some housing in Slocomb built before 1939 ( 8.14%).
Vacant housing appears to be an issue in Slocomb. Fully 15.59% of the housing stock is classified as vacant. Left unchecked, vacant Slocomb homes and apartments can be a drag on the real estate market, holding Slocomb 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 Slocomb's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 6.37% during the period.
Appreciation rates are so strong in Slocomb that despite a nationwide downturn in the housing market, Slocomb real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Slocomb appreciation rates continue to be some of the highest in America, at 9.53%, which is higher than appreciation rates in 84.58% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Slocomb. Slocomb appreciation rates in the latest quarter were at 7.06%, which equates to an annual appreciation rate of 31.39%.
Importantly, this makes Slocomb one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.
Relative to Alabama, our data show that Slocomb's latest annual appreciation rate is higher than 80% of the other cities and towns in Alabama.
$212,348
for Alabama
for nation
747
$1,325 / per month