Grand Bay, AL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Grand Bay, AL Real Estate Data


Grand Bay Housing Market Information

With a population of 3,701, 1,202 total housing units (homes and apartments), and a median house value of $123,925, house prices in Grand Bay are solidly below the national average.

Single-family detached homes are the single most common housing type in Grand Bay, accounting for 63.50% of the town's housing units. Other types of housing that are prevalent in Grand Bay include mobile homes or trailers ( 34.53%), duplexes, homes converted to apartments or other small apartment buildings ( 1.97%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Grand Bay. Owner-occupied housing accounts for 86.06% of Grand Bay's homes, and 88.96% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Grand Bay 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 Grand Bay built between 2000 and later ( 27.14%). A lesser amount of the housing stock also hails from between 1940-1969 ( 17.72%). There's also some housing in Grand Bay built before 1939 ( 5.49%).

Vacant housing appears to be an issue in Grand Bay. Fully 15.47% of the housing stock is classified as vacant. Left unchecked, vacant Grand Bay homes and apartments can be a drag on the real estate market, holding Grand Bay 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.

Grand Bay Home Appreciation Rates

Grand Bay's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Grand Bay during the period has been just -1.18%, which is lower than 70% of US communities.

Appreciation rates are so strong in Grand Bay that despite a nationwide downturn in the housing market, Grand Bay real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Grand Bay appreciation rates continue to be some of the highest in America, at 10.76%, which is higher than appreciation rates in 94.89% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Grand Bay. Grand Bay appreciation rates in the latest quarter were at 2.06%, which equates to an annual appreciation rate of 8.48%.

Importantly, this makes Grand Bay 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 Grand Bay's latest annual appreciation rate is higher than 90% of the other cities and towns in Alabama.

Average Home Values

 

Median Home Value:
$123,925

Grand Bay, AL HOME PRICES

Value Range
> $1,071,000 0.0
$804,001 - $1,071,000 0.0
$536,001 - $804,000 0.0
$428,001 - $536,000 0.0
$321,001 - $428,000 1.7
$214,001 - $321,000 12.2
$107,001 - $214,000 44.1
$54,001 - $107,000 22.7
$0 - $54,000 19.3

High for AL
Low for Nation

Value Relative to Nation Value Relative to State
62.9555842025079 32.25

Number Of Homes And Apartments:
1,202

Rent & Ownership

 

Average Market Rent:
$1,103 / per month

Homeownership Rate

Homeownership
Owners 86.06
Renters 13.94
Vacant 15.47

Housing Market Details

 

Age of Homes

AGE OF Grand Bay HOMES
2000 or Newer 27.1
1970 - 1999 49.6
1940 - 1969 17.7
1939 or Older 5.5

Types of Homes

TYPE OF Grand Bay HOMES
Single-Family 63.5
Townhomes 0.0
Small Apt. Buildings 2.0
Apt. Complexes 0.0
Mobile Homes 34.5
Other 0.0

Home Size

SIZE OF Grand Bay HOMES
No Bedroom 0.00
1 Bedroom 0.00
2 Bedrooms 10.69
3 Bedrooms 68.85
4 Bedrooms 20.11
5 or more bedrooms 0.35

Grand Bay 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
24.37% 1.27% 4 3
* 10 is highest

Popular Neighborhoods in Grand Bay

Zip Codes in Grand Bay, AL