Housing Market Overview
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Bullock County | Alabama Avg | US Average |
|---|---|---|---|
| Median Home Price | $222,272 | $158,589 | $242,182 |
| Price Trend (Annual %) | — | 7.1% | 8.2% |
| Median Gross Rent | $634 | $962 | $1,342 |
| Rent Trend (Annual %) | 2.7% | 4.1% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Bullock County is about 40% higher than in Alabama. Rent is about 34% lower than the Alabama average.
Median Home and Rent Price Trends
Median Home Prices, 2015
Median Rent Prices, 2015-2023
Median rent in Bullock County rose about 11.3% between 2015 and 2023, from $570 to $634. Over the same span, rent in Alabama rose about 34.2%.
Affordability
On average, housing unit costs 6.0 yearly household incomes in Bullock County.
Buying the median-priced home in Bullock County costs roughly 29.2 years of rent at the median monthly rate. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Bullock County. The price-to-rent ratio in Alabama is about 13.7.
| Metric | Bullock County | Alabama Avg | US Average |
|---|---|---|---|
| Median Home Price | $222,272 | $158,589 | $242,182 |
| Median Household Income | $37,013 | $62,318 | $78,145 |
| Price-to-Income Ratio | 6.0 | 2.5 | 3.1 |
Home Prices vs Income Over Time
Occupancy & Tenure
| Metric | Bullock County | Alabama Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 48.2% | 59.5% | 58.2% |
| Rental Rate | 27.7% | 25.6% | 31.3% |
| Vacancy Rate | 24.2% | 15.0% | 10.6% |
| Median Tenure (years) | 19.0 | 16.0 | 15.0 |
| Median Year Moved In | 2007 | 2010 | 2011 |
Bullock County has a homeownership rate of 48.2%, lower than the Alabama average of 59.5%. Its housing vacancy rate is 24.2%, compared with 15.0% in Alabama.
Housing Stock
| Metric | Bullock County | Alabama Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.64 people | 2.50 people | 2.54 people |
| Median Structure Built Year | 1987 | 1985 | 1978 |
| Median Number of Rooms | 5.4 | 5.8 | 5.5 |
The typical housing unit in Bullock County was built around 1987. On average, 2.6 people live in a home with about 5.4 rooms, staying for about 19.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Bullock County, Alabama.
What is the median home price in Bullock County, Alabama?
The median home price in Bullock County, Alabama is $222,272, higher than the Alabama average of $158,589.
What is the average home price in Bullock County, Alabama?
The typical home price in %s, reported as the median sale price, is %s. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Bullock County, Alabama?
The median gross rent in Bullock County, Alabama is $634 per month, lower than the Alabama average of $962.
What was the median gross rent in Bullock County in 2020?
In 2020, the median gross rent in Bullock County, Alabama was $558 per month.
What is the price-to-rent ratio in Bullock County, Alabama?
The price-to-rent ratio in Bullock County, Alabama is about 29.2, meaning it would take roughly 29.2 years of rent payments at the median rent to equal the median home price. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Bullock County.
What is the homeownership rate in Bullock County, Alabama?
48.2% of households in Bullock County, Alabama own their home, lower than the Alabama average of 59.5%.
What is the vacancy rate in Bullock County, Alabama?
The housing vacancy rate in Bullock County, Alabama is 24.2%, higher than the Alabama average of 15.0%.