Housing Market Overview
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Mobile County | Alabama Avg | US Average |
|---|---|---|---|
| Median Home Price | $158,952 | $158,589 | $242,182 |
| Price Trend (Annual %) | 7.7% | 7.1% | 8.2% |
| Median Gross Rent | $1,021 | $962 | $1,342 |
| Rent Trend (Annual %) | 3.5% | 4.1% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Mobile County is about the same as in Alabama. Rent is about 6% higher than the Alabama average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2023
Median Rent Prices, 2015-2023
Both home prices and rent are rising in Mobile County, up about 7.7% and 3.5% a year respectively. Home prices are changing faster.
Median rent in Mobile County rose about 29.7% between 2015 and 2023, from $787 to $1,021. Over the same span, rent in Alabama rose about 34.2%.
Affordability
On average, housing unit costs 2.7 yearly household incomes in Mobile County.
Buying the median-priced home in Mobile County costs roughly 13.0 years of rent at the median monthly rate. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Mobile County. The price-to-rent ratio in Alabama is about 13.7.
| Metric | Mobile County | Alabama Avg | US Average |
|---|---|---|---|
| Median Home Price | $158,952 | $158,589 | $242,182 |
| Median Household Income | $57,966 | $62,318 | $78,145 |
| Price-to-Income Ratio | 2.7 | 2.5 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Mobile County rose about 63.5%, while median household income rose about 43.2% between 2009 and 2023 — the home price grew faster than income.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Mobile County | Alabama Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 56.2% | 59.5% | 58.2% |
| Rental Rate | 30.4% | 25.6% | 31.3% |
| Vacancy Rate | 13.4% | 15.0% | 10.6% |
| Median Tenure (years) | 16.0 | 16.0 | 15.0 |
| Median Year Moved In | 2010 | 2010 | 2011 |
Mobile County has a homeownership rate of 56.2%, lower than the Alabama average of 59.5%. Its housing vacancy rate is 13.4%, compared with 15.0% in Alabama.
Housing Stock
| Metric | Mobile County | Alabama Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.53 people | 2.50 people | 2.54 people |
| Median Structure Built Year | 1981 | 1985 | 1978 |
| Median Number of Rooms | 5.8 | 5.8 | 5.5 |
The typical housing unit in Mobile County was built around 1981. On average, 2.5 people live in a home with about 5.8 rooms, staying for about 16.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Mobile County, Alabama.
What is the median home price in Mobile County, Alabama?
The median home price in Mobile County, Alabama is $158,952, about the same as the Alabama average.
What is the average home price in Mobile County, Alabama?
The typical home price in %s, reported as the median sale price, is %s. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Mobile County, Alabama?
The median gross rent in Mobile County, Alabama is $1,021 per month, higher than the Alabama average of $962.
What was the median gross rent in Mobile County in 2020?
In 2020, the median gross rent in Mobile County, Alabama was $868 per month.
What is the price-to-rent ratio in Mobile County, Alabama?
The price-to-rent ratio in Mobile County, Alabama is about 13.0, meaning it would take roughly 13.0 years of rent payments at the median rent to equal the median home price. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Mobile County.
Are home prices or rent rising faster in Mobile County, Alabama?
Both home prices and rent are rising in Mobile County, up about 7.7% and 3.5% a year respectively. Home prices are changing faster.
What is the homeownership rate in Mobile County, Alabama?
56.2% of households in Mobile County, Alabama own their home, lower than the Alabama average of 59.5%.
What is the vacancy rate in Mobile County, Alabama?
The housing vacancy rate in Mobile County, Alabama is 13.4%, lower than the Alabama average of 15.0%.