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 a population of 8,277, 2,818 total housing units (homes and apartments), and a median house value of $234,172, house prices in Bay Minette are solidly below the national average.
Single-family detached homes are the single most common housing type in Bay Minette, accounting for 82.54% of the city's housing units. Other types of housing that are prevalent in Bay Minette include large apartment complexes or high rise apartments ( 9.95%), mobile homes or trailers ( 3.75%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 3.02%).
The most prevalent building size and type in Bay Minette are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 57.29% owning and 42.71% renting.
There is a lot of housing in Bay Minette 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 Bay Minette built between 1940-1969 ( 29.14%). A lesser amount of the housing stock also hails from between 2000 and later ( 18.32%). There's also some housing in Bay Minette built before 1939 ( 6.29%).
Appreciation rates for homes in Bay Minette have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 93.85%, which ranks in the top 50% nationwide. This equates to an annual average Bay Minette house appreciation rate of 6.84%.
Over the last year, Bay Minette appreciation rates have trailed the rest of the nation. In the last twelve months, Bay Minette's appreciation rate has been 4.06%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Bay Minette were at 2.31%, which equates to an annual appreciation rate of 9.58%.
Relative to Alabama, our data show that Bay Minette's latest annual appreciation rate is higher than 50% of the other cities and towns in Alabama.
$234,172
for Alabama
for nation
2,818
$1,139 / per month