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These days, finding an affordable place to live in the Hoover area can be challenging. Home prices in Hoover are now at a median cost of $408,731, higher than the Alabama average of $228,911.
The average cost of rent is $1,535/mo in Hoover, primarily driven by the current value of real estate in the Hoover area. In Hoover, 32.70% of households rent, and 36.09% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Hoover is $9,658 per month. Households that rent pay about 15.89% of their income on rent here. Hoover’s most expensive areas are in the northeastern regions, while the cheapest areas are in the central parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Indian Springs Village, AL: higher priced homes
- Vestavia Hills, AL: higher priced homes
- Homewood, AL: higher priced homes
- Pelham, AL: less expensive homes
- Meadowbrook, AL: equally priced homes
- Lipscomb, AL: less expensive homes
- Simmsville, AL: less expensive homes
- Helena, AL: equally priced homes
- Mountain Brook, AL: higher priced homes
- Midfield, AL: less expensive homes
Cities with Similar Populations
- Yuba City, CA: equally priced homes
- Woodbury, MN: higher priced homes
- Yakima, WA: less expensive homes
- Winter Haven, FL: less expensive homes
- Youngstown, OH: less expensive homes
- Woodstock, GA: higher priced homes
- Ypsilanti, MI: less expensive homes
- York, PA: less expensive homes
- Winston-Salem, NC: less expensive homes
- Winchester, VA: less expensive homes
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