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 2,265 people, 891 houses or apartments, and a median cost of homes of $333,809, Morris real estate is some of the most expensive in Alabama, although Morris home values aren't among America's most expensive.
Single-family detached homes are the single most common housing type in Morris, accounting for 74.24% of the town's housing units. Other types of housing that are prevalent in Morris include mobile homes or trailers ( 15.58%), row houses and other attached homes ( 5.84%), and a few large apartment complexes or high rise apartments ( 2.60%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Morris. Owner-occupied housing accounts for 93.38% of Morris's homes, and 69.05% have either three or four bedrooms, which is average sized relative to America.
There is a lot of housing in Morris 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 Morris built between 2000 and later ( 36.15%). A lesser amount of the housing stock also hails from between 1940-1969 ( 13.64%). There's also some housing in Morris built before 1939 ( 3.25%).
Real estate appreciation rates in Morris's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 6.07% during the period.
Appreciation rates are so strong in Morris that despite a nationwide downturn in the housing market, Morris real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Morris appreciation rates continue to be some of the highest in America, at 8.99%, which is higher than appreciation rates in 80.77% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Morris. Morris appreciation rates in the latest quarter were at 2.58%, which equates to an annual appreciation rate of 10.72%.
Relative to Alabama, our data show that Morris's latest annual appreciation rate is higher than 80% of the other cities and towns in Alabama.
$333,809
for Alabama
for nation
891
$1,845 / per month