The housing market in Banks, AL is very strong. The median value of a home in Banks, AL is $181,100, which is significantly lower than the US median value of $338,100. In the past year, the US house appreciation rate was 8.27%, while the appreciation rate for houses in Banks, AL was an impressive 16.13%. This indicates that people are investing more and more into real estate in Banks, AL and has caused prices to rise significantly over a short period of time.
The median home cost in Banks is $181,100. Home appreciation the last 10 years has been 46.0%. Home Appreciation in Banks is up 13.3%.
Average Age of Homes
- The median age of Banks real estate is 43 years old
The Rental Market in Banks
- Renters make up 31.0% of the Banks population
- 4.2% of houses and apartments in Banks, are available to rent
DID YOU KNOW
Buying a home is the biggest single purchase most people make during their lives. The second largest is most often an automobile.