Dauphin Acres, a vibrant neighborhood in Mobile, Alabama, has experienced significant changes in homeownership rates and housing prices over the past decade. This analysis examines the trends and factors influencing the local real estate market from 2013 to 2024, with projections extending to 2029. Homeownership rates in Dauphin Acres have fluctuated notably between 2013 and 2022. Starting at 35% in 2013, the rate reached a peak of 51% in 2019 before settling at 46% in 2022. This trend coincided with substantial increases in average home prices. In 2013, the average home price was $79,907, which rose steadily to $130,890 by 2022, representing a significant 63.8% increase over this period. The most dramatic surge occurred between 2020 and 2022, with prices jumping from $103,670 to $130,890, a 26.3% increase in just two years.

The relationship between federal interest rates and homeownership rates in Dauphin Acres aligns with established economic principles. As interest rates remained low from 2013 to 2016, hovering around 0.1%, homeownership increased from 35% to 42%. The subsequent rise in interest rates to 1.83% by 2018 corresponded with a slight dip in ownership to 45%. However, the sharp drop in rates to 0.08% in 2021 did not immediately boost ownership, likely due to other economic factors at play.

Renter percentages in Dauphin Acres have inversely mirrored homeownership trends, decreasing from 65% in 2013 to 54% in 2022. Average rent prices, however, have shown a general upward trend. In 2013, the average rent was $771, which increased to $814 by 2022, a 5.6% rise. Notably, there were fluctuations within this period, with rents peaking at $849 in 2021 before slightly decreasing the following year. The population of Dauphin Acres has remained relatively stable, decreasing slightly from 4,727 in 2013 to 4,073 in 2022, which may have contributed to the moderate rent increases.