Mobile Home Prices: $175K, Down 3.5% — 13 ZIPs Analyzed (2026)
$175,196. That’s what a typical home costs in Mobile right now — and it’s getting cheaper. Prices fell 3.5% over the past year, continuing a steady slide that started in early 2025.
Quick answer: The average home price in Mobile, AL is $175,196 as of February 2026, down 3.5% year over year according to Zillow.
Current Home Prices in Mobile
Mobile sits well below the national median, making it one of the more affordable metro areas in the Southeast. Here’s the snapshot:
| Metric | Value |
|---|---|
| Median Home Value | $175,196 |
| Year-over-Year Change | -3.5% |
| Lowest ZIP Median | $54,347 |
| Highest ZIP Median | $319,701 |
| ZIP Codes Tracked | 13 |
| Data as of | February 2026 |
That 3.5% decline translates to roughly $6,400 lost in value over 12 months. For sellers, that stings. For buyers, the math is shifting in your favor.
The price spread across the city is enormous. The gap between the cheapest and most expensive ZIP codes is $265,354. You’re looking at two completely different housing markets under one city name.
Mobile’s median of $175K means a 20% down payment runs $35,039. At a 7% mortgage rate, your principal and interest payment on the remaining $140,157 comes to about $932 per month. Add taxes and insurance, and you’re in the $1,100–$1,200 range. That’s within reach for many households — and competitive with local rents.
Mobile Home Prices by Neighborhood
All 13 tracked ZIP codes, sorted from most to least expensive:
| ZIP Code | Median Home Value | Rent (ZORI) |
|---|---|---|
| 36602 | $319,701 | $1,753 |
| 36695 | $274,133 | $1,484 |
| 36608 | $236,738 | $1,308 |
| 36693 | $220,543 | $1,423 |
| 36619 | $210,191 | — |
| 36609 | $199,703 | $1,056 |
| 36604 | $193,296 | $1,021 |
| 36618 | $171,198 | $1,500 |
| 36606 | $136,841 | $1,208 |
| 36607 | $112,740 | — |
| 36605 | $85,599 | $1,213 |
| 36603 | $62,523 | — |
| 36617 | $54,347 | — |
Most Expensive ZIPs
36602 — $319,701. This is Mobile’s priciest ZIP at nearly double the city median, with rents to match at $1,753/month.
36695 — $274,133. The second most expensive area commands $274K homes and $1,484/month in rent, sitting 56% above the citywide average.
36608 — $236,738. At $237K, this ZIP runs 35% above the city median with rents around $1,308.
Most Affordable ZIPs
36617 — $54,347. The cheapest ZIP in Mobile at roughly 31% of the city median. Homes here cost less than a new truck.
36603 — $62,523. Just above 36617, this area offers entry-level ownership well under $65K.
36605 — $85,599. Still under $86K and with rents at $1,213/month — which means buying here could cost significantly less than renting.
Rent vs Buy in Mobile
Rent data is available for 9 of 13 ZIP codes. Here’s how monthly rents stack up:
| ZIP Code | Monthly Rent (ZORI) | Home Value | Est. Mortgage* |
|---|---|---|---|
| 36602 | $1,753 | $319,701 | $1,702 |
| 36618 | $1,500 | $171,198 | $911 |
| 36695 | $1,484 | $274,133 | $1,460 |
| 36693 | $1,423 | $220,543 | $1,174 |
| 36608 | $1,308 | $236,738 | $1,261 |
| 36605 | $1,213 | $85,599 | $456 |
| 36606 | $1,208 | $136,841 | $729 |
| 36609 | $1,056 | $199,703 | $1,063 |
| 36604 | $1,021 | $193,296 | $1,029 |
*Estimated principal & interest at 7% with 20% down on a 30-year fixed mortgage.
The numbers tell a clear story. In ZIP 36618, rent runs $1,500/month while a mortgage on the same-area home would cost about $911. That’s a $589/month gap favoring buyers. ZIP 36605 shows an even wider spread — $1,213 in rent versus $456 for a mortgage payment.
In most Mobile neighborhoods, buying is cheaper than renting on a monthly basis. The main exception is 36602, where the high home value pushes the mortgage close to rent levels.
Population Growth and Migration
Mobile is losing residents. The city’s population dropped from 206,488 in 2020 to 201,367 in 2024 — a 2.5% decline over four years.
| Year | Population |
|---|---|
| 2020 | 206,488 |
| 2021 | 204,655 |
| 2022 | 202,584 |
| 2023 | 201,920 |
| 2024 | 201,367 |
The losses have been consistent. Mobile shed roughly 1,300 residents per year between 2020 and 2024. That trend contrasts sharply with other Alabama cities:
| City | 2024 Population | 4-Year Growth |
|---|---|---|
| Madison | 64,029 | +11.7% |
| Auburn | 83,757 | +8.7% |
| Tuscaloosa | 114,288 | +8.2% |
| Huntsville | 230,402 | +6.5% |
| Decatur | 57,974 | +1.5% |
Every comparison city is growing. Huntsville added 6.5% and now has 230,402 residents — surpassing Mobile as Alabama’s largest city. Madison grew nearly 12%.
Fewer people means softer housing demand. Population decline puts downward pressure on home prices and helps explain the 3.5% price drop over the past year.
Mobile Housing Market Trends
Here’s how the median home value moved month by month over the past year:
| Month | Median Value | Change from Prior Month |
|---|---|---|
| March 2025 | $181,632 | — |
| April 2025 | $180,922 | -$710 |
| May 2025 | $179,967 | -$955 |
| June 2025 | $179,067 | -$900 |
| July 2025 | $178,322 | -$745 |
| August 2025 | $177,671 | -$651 |
| September 2025 | $176,992 | -$679 |
| October 2025 | $176,504 | -$488 |
| November 2025 | $175,995 | -$509 |
| December 2025 | $175,630 | -$365 |
| January 2026 | $175,211 | -$419 |
| February 2026 | $175,196 | -$15 |
Twelve straight months of decline. Not a single month posted a gain.
The rate of decline did slow over time, though. The biggest monthly drop was $955 in May 2025. By February 2026, the decline had nearly flattened to just $15. The market may be finding a floor.
Total loss from March 2025 to February 2026: $6,436, or about $536/month on average.
Is Mobile a Good Place to Buy in 2026?
The data points to a buyer’s market.
Prices are falling, population is shrinking, and monthly mortgage payments undercut rents in most ZIP codes. If you’re a buyer, the advantage is yours. Sellers are competing for a smaller pool of demand.
At $175K, Mobile is affordable by almost any standard. A household earning $50,000/year can realistically afford a median-priced home here. The range across ZIP codes — from $54K to $320K — means there are options at every budget level.
The risk? Continued population loss could keep pushing values down. You might buy today and see your home worth less next year. But if you’re buying to live in rather than flip, the monthly savings over renting make a strong case.
For investors, the rent-to-price ratios in areas like 36605 and 36618 are worth a closer look. When rent exceeds the mortgage payment by $500+, the cash flow math works.
Mobile Housing Market Outlook for 2026-2027
The 12-month trend shows consistent depreciation, but the pace is decelerating. Mobile lost $955 in value in a single month last May. By February 2026, that monthly loss had shrunk to $15.
If the current pace continues, prices may stabilize in the $173K–$175K range over the next 3–6 months. The flattening trajectory suggests the steepest declines are behind Mobile.
That said, the population trend works against price recovery. Without net migration gains, demand stays soft. Don’t expect a rebound — expect a plateau.
The most likely scenario: prices drift sideways through late 2026, with modest variation by neighborhood. Premium ZIPs like 36602 may see sharper corrections as higher-priced homes take longer to sell in a cooling market.
Similar Markets in AL
If you’re considering Mobile, these Alabama cities offer different price points and growth profiles:
- Birmingham — Alabama’s largest metro area with a more diversified economy than Mobile.
- Montgomery — The state capital, another affordable market with similar pricing dynamics.
- Huntsville — Growing fast at 6.5% population growth, now larger than Mobile with a strong tech and defense sector.
- Tuscaloosa — University town growing at 8.2%, offering different demand drivers than Mobile.
- Dothan — A smaller market in southeast Alabama for buyers seeking even more affordability.
Frequently Asked Questions
What is the average home price in Mobile?
The average home price in Mobile is $175,196 as of February 2026. Prices range widely by neighborhood — from $54,347 in ZIP 36617 to $319,701 in ZIP 36602. The citywide median puts Mobile well below the national average.
Are home prices going up or down in Mobile?
Down. Mobile home prices have fallen for 12 consecutive months, dropping 3.5% year over year. The median declined from $181,632 in March 2025 to $175,196 in February 2026. The rate of decline is slowing, with the most recent month showing just a $15 decrease.
Is it cheaper to rent or buy in Mobile?
Buying is cheaper in most Mobile ZIP codes. A mortgage on the median-priced home ($175K) runs roughly $1,165/month including taxes and insurance. Rents across tracked ZIPs range from $1,021 to $1,753. In areas like 36618 and 36605, buying saves you $500+ per month compared to renting.
What is the most affordable neighborhood in Mobile?
ZIP code 36617 is Mobile’s most affordable area with a median home value of $54,347. That’s 69% below the citywide median. ZIP 36603 at $62,523 and ZIP 36605 at $85,599 round out the three cheapest neighborhoods.
Methodology
Home values are based on the Zillow Home Value Index (ZHVI), a smoothed measure of typical home values in the 35th to 65th percentile range. Rent estimates use the Zillow Observed Rent Index (ZORI). Population figures come from the U.S. Census Bureau Population Estimates Program (2020-2024 vintage). All datasets are publicly available. Housing data updated 2026-02-28.