Analytics built by:
Raw data sources: American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.
Methodology: Ä¢¹½ÊÓÆµ uses over 600 characteristics to build a neighborhood profile…
With a population of 17,367, 6,500 total housing units (homes and apartments), and a median house value of $277,727, Millbrook 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 Millbrook, accounting for 78.75% of the city's housing units. Other types of housing that are prevalent in Millbrook include large apartment complexes or high rise apartments ( 10.92%), row houses and other attached homes ( 3.76%), and a few mobile homes or trailers ( 3.29%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Millbrook. Owner-occupied housing accounts for 75.35% of Millbrook's homes, and 79.06% have either three or four bedrooms, which is average sized relative to America.
There is a lot of housing in Millbrook 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 Millbrook built between 2000 and later ( 40.20%). A lesser amount of the housing stock also hails from between 1940-1969 ( 7.65%). There's also some housing in Millbrook built before 1939 ( 1.94%).
Millbrook's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Millbrook during the period has been just 5.10%, which is lower than 80% of US communities.
Over the last year, Millbrook appreciation rates have trailed the rest of the nation. In the last twelve months, Millbrook's appreciation rate has been 6.14%, which is lower than appreciation rates in most communities in America. In the latest quarter, Ä¢¹½ÊÓÆµ's data show that house appreciation rates in Millbrook were at 3.17%, which equates to an annual appreciation rate of 13.28%.
Importantly, this makes Millbrook 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 Millbrook's latest annual appreciation rate is higher than 90% of the other cities and towns in Alabama.
One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Millbrook differ in their investment potential, sometimes by a great deal. Fortunately, you can use Ä¢¹½ÊÓÆµ to pinpoint the exact neighborhoods in Millbrook - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Millbrook real estate investment or home purchase decisions.
$277,727
for Alabama
for nation
6,500
$1,670 / per month