Mobile, AL Real Estate Market

Source & Methodology

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.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2021. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Mobile, AL Housing Market Trends

With a population of 188,720, 78,142 total housing units (homes and apartments), and a median house value of $148,544, house prices in Mobile are solidly below the national average.

Single-family detached homes are the single most common housing type in Mobile, accounting for 67.93% of the city's housing units. Other types of housing that are prevalent in Mobile include large apartment complexes or high rise apartments ( 23.09%), duplexes, homes converted to apartments or other small apartment buildings ( 6.16%), and a few mobile homes or trailers ( 1.58%).

The most prevalent building size and type in Mobile are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 51.44% owning and 48.56% renting.

There is a lot of housing in Mobile 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 Mobile built between 1940-1969 ( 38.16%). A lesser amount of the housing stock also hails from between 2000 and later ( 9.73%). There's also some housing in Mobile built before 1939 ( 6.00%).

Vacant housing appears to be an issue in Mobile. Fully 15.87% of the housing stock is classified as vacant. Left unchecked, vacant Mobile homes and apartments can be a drag on the real estate market, holding Mobile 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.

Mobile Home Appreciation Rates

Mobile's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Mobile during the period has been just 1.76%, which is lower than 80% of US communities.

NeighborhoodScout's data show that during the latest twelve months, Mobile's appreciation rate, at 5.81%, has been at or slightly above the national average. In the latest quarter, Mobile's appreciation rate has been 1.25%, which annualizes to a rate of 5.09%.

Notably, Mobile's appreciation rate in the latest quarter is one of the lowest in America.

Relative to Alabama, our data show that Mobile's latest annual appreciation rate is lower than 60% 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 Mobile differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Mobile - 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 Mobile real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$148,544

Mobile, AL HOME PRICES

> $1,156,000
0.8%
0.8%
$867,001 - $1,156,000
0.8%
0.8%
$578,001 - $867,000
1.7%
1.7%
$463,001 - $578,000
2.4%
2.4%
$347,001 - $463,000
4.4%
4.4%
$231,001 - $347,000
11.5%
11.5%
$116,001 - $231,000
35.9%
35.9%
$58,001 - $116,000
31.2%
31.2%
$0 - $58,000
11.3%
11.3%
0.0% 100.0%
% OF HOMES
Value Relative To State

Low for Nation

High for AL

Value Relative To Nation

Number Of Homes And Apartments:
78,142

Mobile Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
AL*
Compared To
America*
Latest Quarter:
2020 Q4 - 2021 Q1
Last 12 Months:
2020 Q1 - 2021 Q1
Last 2 Years:
2019 Q1 - 2021 Q1
Last 5 Years:
2016 Q1 - 2021 Q1
Last 10 Years:
2011 Q1 - 2021 Q1
Since 2000:
2000 Q1 - 2021 Q1
49.62% 1.91%
4
3
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,109 / per month

Homeownership Rate

Owners
51.4%
51.4%
Renters
48.6%
48.6%
Vacant
15.9%
15.9%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
9.7%
9.7%
1970 - 1999
46.1%
46.1%
1940 - 1969
38.2%
38.2%
1939 or Older
6.0%
6.0%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
67.9%
67.9%
Townhomes
1.2%
1.2%
Small Apt. Buildings
6.2%
6.2%
Apt. Complexes
23.1%
23.1%
Mobile Homes
1.6%
1.6%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
1.9%
1.9%
1 Bedroom
11.4%
11.4%
2 Bedrooms
26.8%
26.8%
3 Bedrooms
44.1%
44.1%
4 Bedrooms
13.5%
13.5%
5 or more bedrooms
2.3%
2.3%
0.0% 100.0%
% OF HOMES