Grand Bay, AL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Grand Bay, 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

Grand Bay Housing Market Information

With 3,701 people, 1,202 houses or apartments, and a median cost of homes of $125,426, 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 -1.28%, which is lower than 80% of US communities.

NeighborhoodScout's data show that during the latest twelve months, Grand Bay's appreciation rate, at 6.22%, has been at or slightly above the national average. In the latest quarter, Grand Bay's appreciation rate has been 1.80%, which annualizes to a rate of 7.38%.

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:
$125,426

Grand Bay, AL HOME PRICES

Value Range
> $1,085,000 0.0
$813,001 - $1,085,000 0.0
$542,001 - $813,000 0.0
$433,001 - $542,000 0.0
$326,001 - $433,000 1.7
$217,001 - $326,000 12.2
$108,001 - $217,000 44.1
$54,001 - $108,000 22.7
$0 - $54,000 19.3

High for AL
Low for Nation

Value Relative to Nation Value Relative to State
63.6278470636454 32.0

Number Of Homes And Apartments:
1,202

Grand Bay 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
26.28% 1.34% 4 2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,179 / 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

Popular Neighborhoods in Grand Bay

Zip Codes in Grand Bay, AL