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Mobile real estate market overview
- Average Monthly Rent: $1,109
- Home Price/Value Percentage Change: 7.40%
- Median Home Value: $176,020
- Best Time To Sell a Home: March
- Affordability Index: Moderate
- Days To Sell a House: 27
- Job Market: Weak
- Public School Ranking: 42
Location and weather
Mobile is located in the south-western region of Alabama, right near the Mobile River. It lies on the Mobile Bay and is a well-known river port. Mobile has a reputation for being a place full of history and culture, which is why many of its attractions are ideal for all ages. Some unique sights include Fort Conde, Mobile Museum of Art, the USS Alabama Battleship Memorial Park, the Mobile Opera, and the Saenger Theatre.
If you're more interested in some sight-seeing, check out Mobile Bay, Dauphin Street or the Mobile Botanical Gardens. Mobile also hosts tours, like The Secretly Awesome Tour, the Mobile Downtown Food Tour, or the Evening Food Tour of Old Mobile's Culinary History.
Mobile get about 66 inches of rain-fall each year, but overall has a comfortable climate. Summers are warm, with highs in the 80's and lows in 70's. Winter temperatures reach highs in the 60's, with lows in the 40's.
Population, job market and cost of living
The population in Mobile is 184,620, and has a growth rate of -0.44% annually.
The job growth has decreased by -3.26% over the last year and in ten years, is predicted to have increased by 27.17%. Big industries in Mobile include health care, retail trade, professional services, construction and manufacturing. Some of the larger companies to work for are Austal, Infirmary Health, City of Mobile, Saad Healthcare and Mesastaff Inc.
The cost of living here is moderate, considering it is cheaper than the national average. Mobile Alabama consistently proves why it's a great place for those interested in an affordable lifestyle, in a historically rich city.
Mobile real estate market details
- Milkhouse
- Berkleigh
- Carlen
- Claremont
- Overton
The average monthly rent in Mobile is $1,109 for an average apartment size of 933 sq. feet.
There has been a 7.4% increase in median home value over the last year. As of 2023, the median home value is $176,020.
On average, homes in Mobile sell after 27 days on the market.
The best time to sell a home for the highest valued sale is during March. For the quickest sale, homeowners should sell in June.
The affordability index in Mobile is 83. This number indicates low affordability in this city.
The top ranked public schools are Eichold Mertz School of Math and Science, W H Council Traditional School, Old Shell Road Magnet School, Phillipe Preparatory Middle School and Dawes intermediate School. This information is based on data measuring academic performance and equity.