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 10,656 people, 3,709 houses or apartments, and a median cost of homes of $411,937, Spanish Fort real estate is some of the most expensive in Alabama, although Spanish Fort home values aren't among America's most expensive.
Single-family detached homes are the single most common housing type in Spanish Fort, accounting for 67.27% of the city's housing units. Other types of housing that are prevalent in Spanish Fort include large apartment complexes or high rise apartments ( 24.65%), duplexes, homes converted to apartments or other small apartment buildings ( 6.77%), and a few row houses and other attached homes ( 1.11%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Spanish Fort. Owner-occupied housing accounts for 66.41% of Spanish Fort's homes, and 60.60% have either three or four bedrooms, which is average sized relative to America.
There is a lot of housing in Spanish Fort 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 Spanish Fort built between 2000 and later ( 41.42%). A lesser amount of the housing stock also hails from between 1940-1969 ( 10.37%).
Vacant housing appears to be an issue in Spanish Fort. Fully 12.17% of the housing stock is classified as vacant. Left unchecked, vacant Spanish Fort homes and apartments can be a drag on the real estate market, holding Spanish Fort 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 Spanish Fort have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 88.70%, which ranks in the top 50% nationwide. This equates to an annual average Spanish Fort house appreciation rate of 6.56%.
NeighborhoodScout's data show that during the latest twelve months, Spanish Fort's appreciation rate, at 7.71%, has been at or slightly above the national average. In the latest quarter, Spanish Fort's appreciation rate has been 2.31%, which annualizes to a rate of 9.58%.
Relative to Alabama, our data show that Spanish Fort's latest annual appreciation rate is higher than 80% of the other cities and towns in Alabama.
$411,937
for Alabama
for nation
3,709
$2,470 / per month