Steele, AL—35987
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Steele, AL
As of Oct '25, the median home price in Steele, AL is $180,000, with a year-over-year change of 0.8%. This indicates that home prices in Steele, AL are flat. According to Zillow, the 1-year price projection is -0.1%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $180,000 | 0.8% |
| Single Family | $179,000 | 0.0% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | N/A | N/A |
3 Bed | N/A | N/A |
4 Bed | N/A | N/A |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Steele, AL
As of July '25, Rentcast reports the average rent in Steele, AL is $925, with a year-over-year rent change of -19.6%. Per bedroom, the median rent as of July '25 in Steele, AL is 3-bedrooms: $925. The most common rental property sizes in Steele, AL are 2-bedroom and 3-bedroom, accounting for 59.1% and 21.8% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $925 | $925 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | N/A | N/A |
| 3 Bed Rent | $925 | $925 |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Steele, AL
As of Oct '25, Realtor.com reports that the median days on market for a home in Steele, AL is 126. This is a increase of 186.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 0.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $195,000 | -42.0% |
Listing Count | 5 | 44.0% |
| Listings as % of Homes | 0.3% | 44.0% |
Days on Market | 126 | 186.0% |
Demographics — Steele, AL
As of the latest ACS Survey released in 2023, Steele, AL has a population of 2,670, which has increased by 1.8% over the past 5 years. Steele, AL is a popular place for families, as children make up 25.9% of the population. The area has a poorly educated workforce, with 10.0% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 5.2% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 2,670 | 1.8% |
% Under 18 | 25.9% | 1.6% |
% Seniors | 25.2% | 78.7% |
% WFH | 5.2% | 15.6% |
% w/ College Degree | 10.0% | 25.0% |
As of the latest ACS Survey released in 2023, Steele, AL is a predominantly white area, with 77.1% of the population identifying as white. The white population has shrunk by 11.3% in the last 5 years. The second most common race or ethnicity in Steele, AL is hispanic, making up 14.9% of the population. Foreign-born residents account for 4.5% of the population in Steele, AL, and this percentage has increased by 40.6% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 77.1% | -11.3% |
% Black | 2.5% | 257.1% |
% Hispanic | 14.9% | 58.5% |
% Asian | 0.2% | ∞% |
% Foreign Born | 4.5% | 40.6% |
Mortgage and Risk — Steele, AL
According to HUD data as of 2023, there were 69 mortgage originations in Steele, AL, of which 80.0% of loans were conventional mortgages. The average loan-to-value was 67.0%, with 23.0% above 90% LTV (very high). This implies large mortgage risk in Steele, AL. Investor activity is low, as 6.0% of loans were by investors. 16.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 69 |
% Conventional Loans | 80.0% |
% Government Loans | 20.0% |
% Investor Loans | 6.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 16.0% |
Loan Activity
Rentals and Section 8 — Steele, AL
Steele, AL lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | N/A |
Total Units Section 8 | N/A |
% Rentals under Section 8 | N/A |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $1,000 |
| 2 Bedroom | N/A | N/A | $1,130 |
| 3 Bedroom | $495 | $925 | $1,420 |
| 4 Bedroom | N/A | N/A | $1,580 |
Affordability — Steele, AL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.3 |
| Median Home Price | $180,000 |
| Median Household Income | $78,700 |