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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



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 Q2 2024. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (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 183,289 people, 77,844 houses or apartments, and a median cost of homes of $212,767, 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 67.18% of the city's housing units. Other types of housing that are prevalent in Mobile include large apartment complexes or high rise apartments ( 24.57%), duplexes, homes converted to apartments or other small apartment buildings ( 5.51%), and a few row houses and other attached homes ( 1.34%).

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 49.02% owning and 50.98% 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 ( 37.10%). A lesser amount of the housing stock also hails from between 2000 and later ( 11.10%). There's also some housing in Mobile built before 1939 ( 5.44%).

Vacant housing appears to be an issue in Mobile. Fully 14.38% 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

Real estate appreciation rates in Mobile's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 5.80% during the period.

Over the last year, Mobile appreciation rates have trailed the rest of the nation. In the last twelve months, Mobile's appreciation rate has been 4.51%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Mobile were at -0.19%, which equates to an annual appreciation rate of -0.75%.

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 higher 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

$212,767

Mobile, AL Home Prices
> $1,311,000
$983,001 - $1,311,000
$655,001 - $983,000
$524,001 - $655,000
$393,001 - $524,000
$262,001 - $393,000
$131,001 - $262,000
$66,001 - $131,000
$0 - $66,000
1.2%
1.2%
1.8%
1.8%
3.3%
3.3%
4.0%
4.0%
7.3%
7.3%
16.5%
16.5%
36.4%
36.4%
22.5%
22.5%
7.1%
7.1%
0% 100.0%
% of Homes
Average

for Alabama

Low

for nation

Number of Homes And Apartments:

77,844

Mobile Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,662 / per month

Homeownership Rate

Owners
Renters
49.0%
49.0%
51.0%
51.0%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
14.4%
14.4%
85.6%
85.6%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
11.1%
11.1%
46.4%
46.4%
37.1%
37.1%
5.4%
5.4%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
67.2%
67.2%
1.3%
1.3%
5.5%
5.5%
24.6%
24.6%
1.3%
1.3%
0.1%
0.1%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
2.1%
2.1%
11.8%
11.8%
26.8%
26.8%
41.1%
41.1%
15.0%
15.0%
3.2%
3.2%
0% 100.0%
% of Homes