Arab appreciation rates and housing market information

Arab housing market information

With 7,180 people, 3,216 houses or apartments, and a median cost of homes of $166,792, Arab real estate is some of the most expensive in Alabama, although Arab home values aren't among America's most expensive.

single-family detached homes are the single most common housing type in Arab, accounting for 78.79% of the city's housing units. Other types of housing that are prevalent in Arab include duplexes, homes converted to apartments, or other small apartment buildings (10.39%), large apartment complexes or high rise apartments (7.49%), mobile homes or trailers (2.30%), and a few row houses and other attached homes (0.78%).

Owner-occupied, three and four bedroom single-family detached homes are the most prevalent type of housing you will see in Arab. Owner-occupied housing accounts for 64.02% of Arab's homes, and 65.42% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Arab built from 1970-1994, 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 Arab built from 1940-1969 (37.47%). A lesser amount of the housing stock also hails from 1995 and later (10.42%), and some were built from 1939 and earlier (10.42%).

Arab home appreciation rates

Real estate appreciation rates in Arab have tracked to near the national average over the last ten years, with the annual appreciation rate averaging 6.54% during the period.

NeighborhoodScout's data show that during the latest twelve months, Arab home appreciation rates, at 0.21%, have been at or slightly above the national average. In the latest quarter, Arab's appreciation rate has been -0.02%, which annualizes to a rate of -0.08%.

Relative to Alabama, our data show that Arab's latest annual appreciation rate is higher than 21% of the other cities and towns in Alabama.