Mobile, AL Apartment Market & Multifamily Brokerage
Mobile County, AL
Mobile is anchored by the Port of Mobile, Austal USA's shipyard, Airbus' final assembly line at the Brookley Aeroplex, and University of South Alabama / USA Health — a diversified industrial, aerospace, and healthcare employment base that has kept the market steadily growing for years.
Here's what doesn't get talked about: 46% of Mobile households rent rather than own — 11 points above the national average — but the city carries only about 101 tracked apartment units per 1,000 residents, well below Pensacola (338) or Hattiesburg (180). A renter population this large isn't being housed in multifamily product; a lot of that demand sits in older single-family rentals.
That gap is the opportunity. Average asking rent still runs around $1,073/unit across 161 tracked properties — meaningfully softer than the coastal submarkets. Owners holding renovated or partially renovated product have real room to push rent as that latent renter demand looks for better-quality apartment stock.
Mobile passed 200,000 residents via a 2023 annexation but has ticked down slightly since — growth here is happening at the edges, not the core.
Steven Rowe and Gulf Coast Multifamily represent owners of 10+ unit apartment properties in Mobile and across Mobile County, AL. If you're thinking about selling, refinancing, or just want to know what your property is worth, a confidential conversation costs nothing.