Arab, AL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Arab Neighborhoods Since 2000




Arab, AL Real Estate Data


Arab Housing Market Information

With 8,268 people, 3,296 houses or apartments, and a median cost of homes of $142,754, Arab real estate and house prices are near the national average for all cities and towns.

Single-family detached homes are the single most common housing type in Arab, accounting for 79.32% of the city's housing units. Other types of housing that are prevalent in Arab include large apartment complexes or high rise apartments ( 9.83%), duplexes, homes converted to apartments or other small apartment buildings ( 8.20%), and a few mobile homes or trailers ( 1.84%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Arab. Owner-occupied housing accounts for 65.24% of Arab's homes, and 66.66% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Arab built from 1970 to 1999 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 between 1940-1969 ( 31.14%). A lesser amount of the housing stock also hails from between 2000 and later ( 12.14%). There's also some housing in Arab built before 1939 ( 3.08%).

Arab Home Appreciation Rates

Appreciation rates for homes in Arab have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 6.70%, which ranks in the top 40% nationwide. This equates to an annual average Arab house appreciation rate of 0.65%.

Appreciation rates are so strong in Arab that despite a nationwide downturn in the housing market, Arab real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Arab appreciation rates continue to be some of the highest in America, at 6.09%, which is higher than appreciation rates in 73.80% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Arab. Arab appreciation rates in the latest quarter were at 0.91%, which equates to an annual appreciation rate of 3.68%.

Relative to Alabama, our data show that Arab's latest annual appreciation rate is higher than 80% of the other cities and towns in Alabama.

Average Home Values

 

Median Home Value:
$142,754

Arab, AL HOME PRICES

Value Range
> $1,039,000 0.0
$779,001 - $1,039,000 0.1
$520,001 - $779,000 1.3
$416,001 - $520,000 1.5
$312,001 - $416,000 5.5
$208,001 - $312,000 15.8
$104,001 - $208,000 42.5
$52,001 - $104,000 23.6
$0 - $52,000 9.6

Very High for AL
Average for Nation

Value Relative to Nation Value Relative to State
53.1055900621118 19.75

Number Of Homes And Apartments:
3,296

Rent & Ownership

 

Average Market Rent:
$783 / per month

Homeownership Rate

Homeownership
Owners 65.24
Renters 34.76
Vacant 9.25

Housing Market Details

 

Age of Homes

AGE OF Arab HOMES
2000 or Newer 12.1
1970 - 1999 53.6
1940 - 1969 31.1
1939 or Older 3.1

Types of Homes

TYPE OF Arab HOMES
Single-Family 79.3
Townhomes 0.8
Small Apt. Buildings 8.2
Apt. Complexes 9.8
Mobile Homes 1.8
Other 0.0

Home Size

SIZE OF Arab HOMES
No Bedroom 1.21
1 Bedroom 5.04
2 Bedrooms 24.06
3 Bedrooms 51.68
4 Bedrooms 14.98
5 or more bedrooms 3.03

Arab Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
AL*
Compared To
America*
Latest Quarter:
2016 Q3 - 2016 Q4
Last 12 Months:
2015 Q4 - 2016 Q4
Last 2 Years:
2014 Q4 - 2016 Q4
Last 5 Years:
2011 Q4 - 2016 Q4
Last 10 Years:
2006 Q4 - 2016 Q4
Since 2000:
2000 Q1 - 2016 Q4
30.17% 1.54% 6 3
* 10 is highest