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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Bessemer, AL Real Estate Market

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 Q1 2024. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Bessemer, AL Housing Market Trends

With 25,264 people, 10,316 houses or apartments, and a median cost of homes of $117,463, house prices in Bessemer are some of the most affordable in Alabama as well as the nation.

Single-family detached homes are the single most common housing type in Bessemer, accounting for 72.58% of the city's housing units. Other types of housing that are prevalent in Bessemer include large apartment complexes or high rise apartments ( 10.99%), duplexes, homes converted to apartments or other small apartment buildings ( 9.85%), and a few mobile homes or trailers ( 3.40%).

The most prevalent building size and type in Bessemer are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 52.60% owning and 47.40% renting.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Bessemer's housing was primarily built during this period, from the '40s through the '60s. A full 42.03% of the city's housing hails from this era. Other housing ages represented in Bessemer include homes built between 1970-1999 ( 27.76%) and housing constructed before 1939 ( 19.21%). There's also some housing in Bessemer built between 2000 and later ( 11.00%).

Vacant housing appears to be an issue in Bessemer. Fully 17.22% of the housing stock is classified as vacant. Left unchecked, vacant Bessemer homes and apartments can be a drag on the real estate market, holding Bessemer 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.

Bessemer Home Appreciation Rates

Real estate appreciation rates in Bessemer's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 6.50% during the period.

Over the last year, Bessemer appreciation rates have trailed the rest of the nation. In the last twelve months, Bessemer's appreciation rate has been 1.65%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Bessemer were at 1.47%, which equates to an annual appreciation rate of 6.02%.

Relative to Alabama, our data show that Bessemer's latest annual appreciation rate is lower 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 Bessemer differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Bessemer - 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 Bessemer real estate investment or home purchase decisions.

Average Home Values

Median Home Value

$117,463

Bessemer, AL Home Prices
> $1,267,000
$949,001 - $1,267,000
$633,001 - $949,000
$507,001 - $633,000
$380,001 - $507,000
$253,001 - $380,000
$127,001 - $253,000
$63,001 - $127,000
$0 - $63,000
0.2%
0.2%
0.3%
0.3%
2.0%
2.0%
5.8%
5.8%
5.1%
5.1%
17.5%
17.5%
28.5%
28.5%
28.4%
28.4%
12.3%
12.3%
0% 100.0%
% of Homes
Very Low

for Alabama

Very Low

for nation

Number of Homes And Apartments:

10,316

Bessemer Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,697 / per month

Homeownership Rate

Owners
Renters
52.6%
52.6%
47.4%
47.4%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
17.2%
17.2%
82.8%
82.8%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
11.0%
11.0%
27.8%
27.8%
42.0%
42.0%
19.2%
19.2%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
72.6%
72.6%
3.2%
3.2%
9.9%
9.9%
11.0%
11.0%
3.4%
3.4%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
2.1%
2.1%
8.8%
8.8%
38.1%
38.1%
38.4%
38.4%
10.8%
10.8%
1.8%
1.8%
0% 100.0%
% of Homes