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 69 people, 42 houses or apartments, and a median cost of homes of $289,692, Union Grove real estate and house prices are near the national average for all cities and towns.
Single-family detached homes are the single most common housing type in Union Grove, accounting for 92.98% of the town's housing units. Other types of housing that are prevalent in Union Grove include mobile homes or trailers ( 7.02%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Union Grove. Owner-occupied housing accounts for 85.71% of Union Grove's homes, and 70.18% have either three or four bedrooms, which is average sized relative to America.
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. Union Grove's housing was primarily built during this period, from the '40s through the '60s. A full 61.40% of the town's housing hails from this era. Other housing ages represented in Union Grove include homes built between 1970-1999 ( 26.32%) and housing constructed between 2000 and later ( 12.28%).
Vacant housing appears to be an issue in Union Grove. Fully 26.32% of the housing stock is classified as vacant. Left unchecked, vacant Union Grove homes and apartments can be a drag on the real estate market, holding Union Grove 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 Union Grove have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 88.62%, which ranks in the top 50% nationwide. This equates to an annual average Union Grove house appreciation rate of 6.55%.
Over the last year, Union Grove appreciation rates have trailed the rest of the nation. In the last twelve months, Union Grove's appreciation rate has been 3.11%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Union Grove were at -1.79%, which equates to an annual appreciation rate of -6.98%.
Notably, Union Grove's appreciation rate in the latest quarter is one of the lowest in America.
Relative to Alabama, our data show that Union Grove's latest annual appreciation rate is lower than 50% of the other cities and towns in Alabama.
$289,692
for Alabama
for nation
42
$1,753 / per month