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 24,755 people, 8,844 houses or apartments, and a median cost of homes of $306,581, 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 76.64% of the city's housing units. Other types of housing that are prevalent in Pelham include row houses and other attached homes ( 14.30%), mobile homes or trailers ( 4.40%), and a few large apartment complexes or high rise apartments ( 3.40%).
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 84.03% of Pelham's homes, and 74.17% have either three or four bedrooms, which is average sized relative to America.
Pelham homes and real estate are some of the newest in America. 49.58% of Pelham's housing was built since 2000, making the city have a very new look and feel. If you like the amenities of newer homes and subdivisions, then you will probably like what the Pelham real estate market has to offer. Quite a bit of the housing here was also built between 1970-1999 ( 47.80%), and between 1940-1969 ( 2.21%).
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 6.08% during the period.
Over the last year, Pelham appreciation rates have trailed the rest of the nation. In the last twelve months, Pelham's appreciation rate has been 3.00%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Pelham were at -0.87%, which equates to an annual appreciation rate of -3.42%.
Notably, Pelham's appreciation rate in the latest quarter is one of the lowest in America.
Relative to Alabama, our data show that Pelham's latest annual appreciation rate is lower than 80% 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.
$306,581
for Alabama
for nation
8,844
$1,909 / per month