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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With 8,623 people, 3,336 houses or apartments, and a median cost of homes of $254,774, Arab real estate and house prices are near the national average for all cities and towns.
Single-family detached homes are the single most common housing type in Arab, accounting for 79.34% of the city's housing units. Other types of housing that are prevalent in Arab include large apartment complexes or high rise apartments ( 10.29%), duplexes, homes converted to apartments or other small apartment buildings ( 7.84%), and a few mobile homes or trailers ( 1.65%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Arab. Owner-occupied housing accounts for 66.97% of Arab's homes, and 67.48% have either three or four bedrooms, which is average sized relative to America.
There is a lot of housing in Arab 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 Arab built between 1940-1969 ( 29.77%). A lesser amount of the housing stock also hails from between 2000 and later ( 15.24%). There's also some housing in Arab built before 1939 ( 2.48%).
Real estate appreciation rates in Arab's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 5.94% during the period.
Over the last year, Arab appreciation rates have trailed the rest of the nation. In the last twelve months, Arab's appreciation rate has been 1.62%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Arab were at -1.79%, which equates to an annual appreciation rate of -6.98%.
Notably, Arab's appreciation rate in the latest quarter is one of the lowest in America.
Relative to Alabama, our data show that Arab's latest annual appreciation rate is lower than 90% of the other cities and towns in Alabama.
$254,774
for Alabama
for nation
3,336
$1,304 / per month