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.
Housing Market Overview
| Metric | Mountain Brook | Alabama Avg | US Average |
|---|---|---|---|
| Median Home Price | $319,397 | $158,589 | $242,182 |
| Price Trend (Annual %) | 6.5% | 7.1% | 8.2% |
| Median Gross Rent | $1,551 | $962 | $1,342 |
| Rent Trend (Annual %) | 5.9% | 4.1% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Mountain Brook is about 101% higher than in Alabama. Rent is about 61% 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 Mountain Brook, up about 6.5% and 5.9% a year respectively. Home prices are changing faster.
Median rent in Mountain Brook rose about 56.5% between 2015 and 2023, from $991 to $1,551. Over the same span, rent in Alabama rose about 34.2%.
Affordability
On average, housing unit costs 2.2 yearly household incomes in Mountain Brook.
Buying the median-priced home in Mountain Brook costs roughly 17.2 years of rent at the median monthly rate. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Mountain Brook. The price-to-rent ratio in Alabama is about 13.7.
| Metric | Mountain Brook | Alabama Avg | US Average |
|---|---|---|---|
| Median Home Price | $319,397 | $158,589 | $242,182 |
| Median Household Income | $145,375 | $62,318 | $78,145 |
| Price-to-Income Ratio | 2.2 | 2.5 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Mountain Brook rose about 32.3%, while median household income rose about 54.6% between 2009 and 2023 — income grew faster than the home price.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Mountain Brook | Alabama Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 73.4% | 59.5% | 58.2% |
| Rental Rate | 18.1% | 25.6% | 31.3% |
| Vacancy Rate | 8.4% | 15.0% | 10.6% |
| Median Tenure (years) | 14.0 | 16.0 | 15.0 |
| Median Year Moved In | 2012 | 2010 | 2011 |
Mountain Brook has a homeownership rate of 73.4%, higher than the Alabama average of 59.5%. Its housing vacancy rate is 8.4%, compared with 15.0% in Alabama.
Housing Stock
| Metric | Mountain Brook | Alabama Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.47 people | 2.50 people | 2.54 people |
| Median Structure Built Year | 1968 | 1985 | 1978 |
| Median Number of Rooms | 7.8 | 5.8 | 5.5 |
The typical housing unit in Mountain Brook was built around 1968. On average, 2.5 people live in a home with about 7.8 rooms, staying for about 14.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Mountain Brook, Alabama.
What is the median home price in Mountain Brook, Alabama?
The median home price in Mountain Brook, Alabama is $319,397, higher than the Alabama average of $158,589.
What is the average home price in Mountain Brook, 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 Mountain Brook, Alabama?
The median gross rent in Mountain Brook, Alabama is $1,551 per month, higher than the Alabama average of $962.
What was the median gross rent in Mountain Brook in 2020?
In 2020, the median gross rent in Mountain Brook, Alabama was $1,407 per month.
What is the price-to-rent ratio in Mountain Brook, Alabama?
The price-to-rent ratio in Mountain Brook, Alabama is about 17.2, meaning it would take roughly 17.2 years of rent payments at the median rent to equal the median home price. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Mountain Brook.
Are home prices or rent rising faster in Mountain Brook, Alabama?
Both home prices and rent are rising in Mountain Brook, up about 6.5% and 5.9% a year respectively. Home prices are changing faster.
What is the homeownership rate in Mountain Brook, Alabama?
73.4% of households in Mountain Brook, Alabama own their home, higher than the Alabama average of 59.5%.
What is the vacancy rate in Mountain Brook, Alabama?
The housing vacancy rate in Mountain Brook, Alabama is 8.4%, lower than the Alabama average of 15.0%.