Bay Minette, AL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Bay Minette Neighborhoods Since 2000




Bay Minette, AL Real Estate Data

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q2 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Bay Minette Housing Market Information

With a population of 9,118, 3,011 total housing units (homes and apartments), and a median house value of $156,235, Bay Minette 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 Bay Minette, accounting for 70.70% of the city's housing units. Other types of housing that are prevalent in Bay Minette include large apartment complexes or high rise apartments ( 12.43%), duplexes, homes converted to apartments or other small apartment buildings ( 10.57%), and a few mobile homes or trailers ( 5.41%).

The most prevalent building size and type in Bay Minette are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 48.75% owning and 51.25% renting.

There is a lot of housing in Bay Minette 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 Bay Minette built between 1940-1969 ( 32.67%). A lesser amount of the housing stock also hails from between 2000 and later ( 13.57%). There's also some housing in Bay Minette built before 1939 ( 3.78%).

Vacant housing appears to be an issue in Bay Minette. Fully 13.77% of the housing stock is classified as vacant. Left unchecked, vacant Bay Minette homes and apartments can be a drag on the real estate market, holding Bay Minette real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Bay Minette Home Appreciation Rates

Bay Minette's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Bay Minette during the period has been just -0.68%, which is lower than 70% of US communities.

Appreciation rates are so strong in Bay Minette that despite a nationwide downturn in the housing market, Bay Minette real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Bay Minette appreciation rates continue to be some of the highest in America, at 6.68%, which is higher than appreciation rates in 73.54% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Bay Minette. Bay Minette appreciation rates in the latest quarter were at 4.08%, which equates to an annual appreciation rate of 17.35%.

Importantly, this makes Bay Minette one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.

Relative to Alabama, our data show that Bay Minette's latest annual appreciation rate is higher than 90% of the other cities and towns in Alabama.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Bay Minette differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Bay Minette - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Bay Minette real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$156,235

Bay Minette, AL HOME PRICES

Value Range
> $1,154,000 0.1
$865,001 - $1,154,000 0.3
$577,001 - $865,000 0.9
$462,001 - $577,000 2.1
$346,001 - $462,000 5.1
$231,001 - $346,000 12.0
$115,001 - $231,000 43.8
$58,001 - $115,000 23.2
$0 - $58,000 12.5

Very High for AL
Average for Nation

Value Relative to Nation Value Relative to State
48.7850576731659 15.5

Number Of Homes And Apartments:
3,011

Bay Minette Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
AL*
Compared To
America*
Latest Quarter:
2017 Q1 - 2017 Q2
Last 12 Months:
2016 Q2 - 2017 Q2
Last 2 Years:
2015 Q2 - 2017 Q2
Last 5 Years:
2012 Q2 - 2017 Q2
Last 10 Years:
2007 Q2 - 2017 Q2
Since 2000:
2000 Q1 - 2017 Q2
34.06% 1.69% 6 3
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$988 / per month

Homeownership Rate

Homeownership
Owners 48.75
Renters 51.25
Vacant 13.77

Housing Market Details

 

Age of Homes

AGE OF Bay Minette HOMES
2000 or Newer 13.6
1970 - 1999 50.0
1940 - 1969 32.7
1939 or Older 3.8

Types of Homes

TYPE OF Bay Minette HOMES
Single-Family 70.7
Townhomes 0.9
Small Apt. Buildings 10.6
Apt. Complexes 12.4
Mobile Homes 5.4
Other 0.0

Home Size

SIZE OF Bay Minette HOMES
No Bedroom 0.95
1 Bedroom 8.59
2 Bedrooms 27.75
3 Bedrooms 50.11
4 Bedrooms 10.57
5 or more bedrooms 2.03

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Zip Codes in Bay Minette, AL