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 Q1 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

Pelham Housing Market Information

With 22,885 people, 8,796 houses or apartments, and a median cost of homes of $155,731, 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 73.06% of the city's housing units. Other types of housing that are prevalent in Pelham include row houses and other attached homes ( 15.08%), mobile homes or trailers ( 7.83%), and a few large apartment complexes or high rise apartments ( 2.56%).

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 83.36% of Pelham's homes, and 72.96% 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 ( 36.34%). A lesser amount of the housing stock also hails from between 1940-1969 ( 4.32%).

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 -0.42% during the period.

NeighborhoodScout's data show that during the latest twelve months, Pelham's appreciation rate, at 3.42%, has been at or slightly above the national average. In the latest quarter, Pelham's appreciation rate has been 0.16%, which annualizes to a rate of 0.62%.

Relative to Alabama, our data show that Pelham's latest annual appreciation rate is higher than 60% 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:
$155,731

Pelham, AL HOME PRICES

Value Range
> $1,092,000 0.1
$819,001 - $1,092,000 0.4
$546,001 - $819,000 1.7
$437,001 - $546,000 2.5
$328,001 - $437,000 6.2
$218,001 - $328,000 15.2
$109,001 - $218,000 60.1
$55,001 - $109,000 7.4
$0 - $55,000 6.4

Very High for AL
Average for Nation

Value Relative to Nation Value Relative to State
47.5799835931091 14.0

Number Of Homes And Apartments:
8,796

Pelham Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
AL*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
19.64% 1.05% 3 2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,405 / per month

Homeownership Rate

Homeownership
Owners 83.36
Renters 16.64
Vacant 5.40

Housing Market Details

 

Age of Homes

AGE OF Pelham HOMES
2000 or Newer 36.3
1970 - 1999 59.1
1940 - 1969 4.3
1939 or Older 0.3

Types of Homes

TYPE OF Pelham HOMES
Single-Family 73.1
Townhomes 15.1
Small Apt. Buildings 1.3
Apt. Complexes 2.6
Mobile Homes 7.8
Other 0.2

Home Size

SIZE OF Pelham HOMES
No Bedroom 0.10
1 Bedroom 1.69
2 Bedrooms 22.18
3 Bedrooms 50.54
4 Bedrooms 22.42
5 or more bedrooms 3.08