10 REASONS TO INVEST IN THE MOBILE REAL ESTATE MARKET* 1. DIVERSE ECONOMY
Photo by Jeff Tesney
Mobile is home to the 11th largest port by volume in the United States. It has seen a renaissance of shipbuilding since 2000. There are several military contractors at the 1,650-acre Mobile Aeroplex, home to more than 70 companies. As a large metropolitan area, Mobile is home to several hospitals employing thousands of people. A side benefit of the diverse economy is that the job market doesn’t see booms and busts like cities dependent on tourism or oil.
3. PROPORTIONED MILITARY MARKET
2. LARGE STUDENT MARKET
The military keeps its people on the move, and that leaves most of them to rent instead of buy their homes. The nearly 1,000 U.S. Coast Guard and other military members at the Aviation Training Center in Mobile create significant demand for rental properties in the area. After all, those coming for aviation training aren’t even going to stay in the area on a two- or threeyear assignment.
The University of South Alabama employs more than 106,000 people. Around 15,000 students attend the school. Spring Hill College and University of Mobile have just over 1,500 students. Little schools dot the area. This creates a large, permanent class of renters for Mobile rental properties.
4. AFFORDABLE REAL ESTATE The Mobile real estate market is affordable. The average home value is $120,000, which includes a lot of older homes. If you include new homes that represent a large share of properties for sale, the median home price is around $160,000. BUSINESS VIEW
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