Chelsea, 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 Q4 2020. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

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

Chelsea, AL Housing Market Trends

With 14,126 people, 4,508 houses or apartments, and a median cost of homes of $280,820, Chelsea real estate is some of the most expensive in Alabama, although Chelsea home values aren't among America's most expensive.

Single-family detached homes are the single most common housing type in Chelsea, accounting for 94.99% of the city's housing units. Other types of housing that are prevalent in Chelsea include mobile homes or trailers ( 2.91%), row houses and other attached homes ( 2.11%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Chelsea. Owner-occupied housing accounts for 93.14% of Chelsea's homes, and 86.01% have either three or four bedrooms, which is average sized relative to America.

Chelsea homes and real estate are some of the newest in America. 74.90% of Chelsea's housing was built since 2000, making the city have a very new look and feel. If you like the amenities of newer homes and subdivisions, then you will probably like what the Chelsea real estate market has to offer. Quite a bit of the housing here was also built between 1970-1999 ( 22.69%), and between 1940-1969 ( 1.49%).

Chelsea Home Appreciation Rates

Real estate appreciation rates in Chelsea's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 2.32% during the period.

NeighborhoodScout's data show that during the latest twelve months, Chelsea's appreciation rate, at 6.19%, has been at or slightly above the national average. In the latest quarter, Chelsea's appreciation rate has been 2.49%, which annualizes to a rate of 10.34%.

Relative to Alabama, our data show that Chelsea's latest annual appreciation rate is lower than 60% of the other cities and towns in Alabama.

Average Home Values

 

Median Home Value:
$280,820

Chelsea, AL HOME PRICES

> $1,175,000
1.6%
1.6%
$882,001 - $1,175,000
1.1%
1.1%
$588,001 - $882,000
4.2%
4.2%
$471,001 - $588,000
6.2%
6.2%
$353,001 - $471,000
10.8%
10.8%
$235,001 - $353,000
37.2%
37.2%
$117,001 - $235,000
31.9%
31.9%
$59,001 - $117,000
4.0%
4.0%
$0 - $59,000
2.8%
2.8%
0.0% 100.0%
% OF HOMES
Value Relative To State

High for Nation

Very High for AL

Value Relative To Nation

Number Of Homes And Apartments:
4,508

Chelsea Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
AL*
Compared To
America*
Latest Quarter:
2020 Q3 - 2020 Q4
Last 12 Months:
2019 Q4 - 2020 Q4
Last 2 Years:
2018 Q4 - 2020 Q4
Last 5 Years:
2015 Q4 - 2020 Q4
Last 10 Years:
2010 Q4 - 2020 Q4
Since 2000:
2000 Q1 - 2020 Q4
41.90% 1.68%
3
2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,291 / per month

Homeownership Rate

Owners
93.1%
93.1%
Renters
6.9%
6.9%
Vacant
7.8%
7.8%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
74.9%
74.9%
1970 - 1999
22.7%
22.7%
1940 - 1969
1.5%
1.5%
1939 or Older
0.9%
0.9%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
95.0%
95.0%
Townhomes
2.1%
2.1%
Small Apt. Buildings
0.0%
0.0%
Apt. Complexes
0.0%
0.0%
Mobile Homes
2.9%
2.9%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
0.0%
0.0%
1 Bedroom
0.0%
0.0%
2 Bedrooms
7.3%
7.3%
3 Bedrooms
48.8%
48.8%
4 Bedrooms
37.2%
37.2%
5 or more bedrooms
6.7%
6.7%
0.0% 100.0%
% OF HOMES