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These days, finding an affordable place to live in the Alabama area can be challenging. Home prices in Alabama are now at a median cost of $185,232, lower than the the United States average of $313,691.
The average cost of rent is $964/mo in Alabama, primarily driven by the current value of real estate in the Alabama area. While nearly 43.46% of residents own their homes outright in Alabama, 27.88% rent.
Housing affordability isn’t just about home prices, though. The average household income in Alabama is $5,506 per month. Households that rent pay about 17.52% of their income on rent here. Alabama's most expensive areas are in the central regions, while the cheapest areas are in the southern parts of the state.
Nearby States
- Mississippi: less expensive homes
- Georgia: higher priced homes
- Tennessee: higher priced homes
- Louisiana: equally priced homes
- Kentucky: less expensive homes
- South Carolina: higher priced homes
- Arkansas: less expensive homes
- Florida: higher priced homes
- North Carolina: higher priced homes
- Missouri: equally priced homes
States with Similar Populations
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