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Brantley, Alabama: Home Values Rise as Ownership Declines in Small Town
CATEGORY
Property Value
DATA
Percent Owner Occupied
Housing Prices
Median Rent
Population
Loading Content...
Property Value
Percent Owner Occupied
Housing Prices
Median Rent
Population
Brantley, located in Alabama, has experienced notable fluctuations in its housing market over the past decade. This small community has seen significant changes in homeownership rates, average home prices, and average rent prices, reflecting broader economic trends and local market dynamics.
The homeownership rate in Brantley has shown a general decline from 2013 to 2022. In 2013, 74% of residents owned their homes. This percentage peaked at 84% in 2014 but has since decreased to 70% by 2022. Concurrently, average home prices have demonstrated a consistent upward trend. In 2012, the average home price was $86,640, which steadily increased to $135,889 by 2022, representing a substantial 56.8% increase over a decade.
The relationship between federal interest rates and homeownership rates in Brantley appears to follow established trends. As interest rates remained low from 2013 to 2016, hovering around 0.1%, homeownership rates were relatively high, ranging from 74% to 84%. However, as interest rates began to rise from 2017 onwards, reaching 1.68% in 2022, homeownership rates showed a gradual decline, dropping to 70% by 2022.
Renter percentages in Brantley have inversely mirrored the homeownership trends, increasing from 26% in 2013 to 29% in 2022. Average rent prices have fluctuated over this period. In 2013, the average rent was $523, which peaked at $635 in 2014 before declining to $471 in 2016. Since then, average rent has shown a gradual increase, reaching $571 in 2022. These trends in rental rates and prices may be influenced by the town's changing population, which has fluctuated between 1,746 and 2,010 residents during this period.
In 2023 and 2024, Brantley's housing market showed signs of stabilization. The average home price in 2023 was $134,948, slightly decreasing to $131,757 in 2024. This modest decline coincides with a significant increase in federal interest rates, which rose to 5.02% in 2023 and further to 5.33% in 2024.
Looking ahead, predictive models suggest that average home prices in Brantley may continue to experience moderate growth over the next five years, albeit at a slower pace than the previous decade due to higher interest rates. Average rent prices are expected to follow a similar trend, with gradual increases likely driven by ongoing demand for rental properties.
In summary, Brantley has witnessed a shift from high homeownership rates to a more balanced mix of owners and renters over the past decade. This transition has been accompanied by significant increases in average home prices and fluctuating rent prices. The recent stabilization in home prices, coupled with rising interest rates, suggests a potential cooling of the market, which may influence future homeownership rates and rental demand in this Alabama community.
