Pelham AL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA



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Pelham, 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 2020. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2018 (latest available). Updated annually.

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

Pelham Housing Market Information

With a population of 23,744, 8,765 total housing units (homes and apartments), and a median house value of $182,623, Pelham real estate is some of the most expensive in Alabama, although Pelham home values aren't among America's most expensive.

Single-family detached homes are the single most common housing type in Pelham, accounting for 72.21% of the city's housing units. Other types of housing that are prevalent in Pelham include row houses and other attached homes ( 16.52%), mobile homes or trailers ( 7.48%), and a few large apartment complexes or high rise apartments ( 2.42%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Pelham. Owner-occupied housing accounts for 82.08% of Pelham's homes, and 74.83% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Pelham 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 Pelham built between 2000 and later ( 39.02%). A lesser amount of the housing stock also hails from between 1940-1969 ( 3.59%).

Pelham Home Appreciation Rates

Real estate appreciation rates in Pelham's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 2.23% during the period.

NeighborhoodScout's data show that during the latest twelve months, Pelham's appreciation rate, at 4.77%, has been at or slightly above the national average. In the latest quarter, Pelham's appreciation rate has been 1.33%, which annualizes to a rate of 5.44%.

Relative to Alabama, our data show that Pelham's latest annual appreciation rate is higher than 50% 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 Pelham differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Pelham - 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 Pelham real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$182,623

Pelham, AL HOME PRICES

Value Range
> $1,194,000 0.5
$896,001 - $1,194,000 0.7
$597,001 - $896,000 1.9
$478,001 - $597,000 2.9
$358,001 - $478,000 6.8
$239,001 - $358,000 19.0
$120,001 - $239,000 54.1
$59,001 - $120,000 6.1
$0 - $59,000 7.9

Very High for AL
Average for Nation

Value Relative to Nation Value Relative to State
47.3109489051095 14.9625935162095

Number Of Homes And Apartments:
8,765

Pelham Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
AL*
Compared To
America*
Latest Quarter:
2020 Q1 - 2020 Q2
Last 12 Months:
2019 Q2 - 2020 Q2
Last 2 Years:
2018 Q2 - 2020 Q2
Last 5 Years:
2015 Q2 - 2020 Q2
Last 10 Years:
2010 Q2 - 2020 Q2
Since 2000:
2000 Q1 - 2020 Q2
42.28% 1.73%
4
2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,619 / per month

Homeownership Rate

Homeownership
Owners 82.08
Renters 17.92
Vacant 7.23

Housing Market Details

 

Age of Homes

AGE OF Pelham HOMES
2000 or Newer 39.0
1970 - 1999 56.6
1940 - 1969 3.6
1939 or Older 0.8

Types of Homes

TYPE OF Pelham HOMES
Single-Family 72.2
Townhomes 16.5
Small Apt. Buildings 1.2
Apt. Complexes 2.4
Mobile Homes 7.5
Other 0.2

Home Size

SIZE OF Pelham HOMES
No Bedroom 0.11
1 Bedroom 0.73
2 Bedrooms 19.03
3 Bedrooms 49.06
4 Bedrooms 25.77
5 or more bedrooms 5.30