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Abbeville, AL (Shorterville/Union)
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Home Appreciation:
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Eight Mile appreciation rates and housing market information
Highest Appreciating Eight Mile Neighborhoods Since 1990
| NAME | |
|---|---|
| 1 | Kushla / U of Mobile |
| 2 | Lott Rd / Gaynor Rd |
popular neighborhoods in Eight Mile Kushla / U of Mobile, Lott Rd / Gaynor Rd
popular communities near Eight Mile, Alabama Chickasaw, Citronelle, Creola, Mobile, Mount Vernon, Prichard, Saraland, Satsuma, Semmes, Wilmer
POPULATION
11,767
Eight Mile Appreciation Rates
Eight Mile
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|---|---|---|---|---|
| PERIOD | TOTAL APPRECIATION | AVG. ANNUAL RATE | COMPARED TO AL* |
COMPARED TO AMERICA* |
| Since 1990 |  123.09%
|
6.47%
|
3 | 4 |
| Last 10 Years | 55.85%
|
5.58%
|
3 | 3 |
| Last 5 Years | 35.48%
|
7.09%
|
4 | 6 |
| Last 2 Years | 5.26%
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2.63%
|
3 | 6 |
| Last 12 Months | 0.15%
|
0.15%
|
2 | 5 |
| Latest Quarter | 1.79%
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7.16%
|
9 | 9 |
| * 10 is highest | ||||
Eight Mile housing market information
With 11,767 people, 4,956 houses or apartments, and a median cost of homes of $136,474, house prices in Eight Mile are solidly below the national average.
single-family detached homes are the single most common housing type in Eight Mile, accounting for 63.76% of the town's housing units. Other types of housing that are prevalent in Eight Mile include mobile homes or trailers (34.44%), large apartment complexes or high rise apartments (0.93%), and a few row houses and other attached homes (0.52%).
Owner-occupied, three and four bedroom single-family detached homes are the most prevalent type of housing you will see in Eight Mile. Owner-occupied housing accounts for 82.65% of Eight Mile's homes, and 73.00% have either three or four bedrooms, which is average sized relative to America.
There is a lot of housing in Eight Mile 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 Eight Mile built from 1940-1969 (17.59%). A lesser amount of the housing stock also hails from 1995 and later (17.29%), and some were built from 1939 and earlier (17.29%).
Eight Mile home appreciation rates
Eight Mile's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Eight Mile during the period has been just 5.58%, which is lower than % of US communities.
NeighborhoodScout's data show that during the latest twelve months, Eight Mile home appreciation rates, at 0.15%, have been at or slightly above the national average. In the latest quarter, Eight Mile's appreciation rate has been 1.79%, which annualizes to a rate of 7.16%.
Importantly, this makes Eight Mile one of the highest appreciating communities in the nation for the latest quarter, and may signal the town's near-future real estate investment strength.
Relative to Alabama, our data show that Eight Mile's latest annual appreciation rate is higher than 20% of the other cities and towns in Alabama.
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