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 | Chilton County | Alabama Avg | US Average |
|---|---|---|---|
| Median Home Price | $150,169 | $158,589 | $242,182 |
| Price Trend (Annual %) | 30.5% | 7.1% | 8.2% |
| Median Gross Rent | $855 | $962 | $1,342 |
| Rent Trend (Annual %) | 4.2% | 4.1% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Chilton County is about 5% lower than in Alabama. Rent is about 11% lower than the Alabama average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2023
Median Rent Prices, 2015-2023
Both home prices and rent are rising in Chilton County, up about 30.5% and 4.2% a year respectively. Home prices are changing faster.
Median rent in Chilton County rose about 29.4% between 2015 and 2023, from $660 to $855. Over the same span, rent in Alabama rose about 34.2%.
Affordability
On average, housing unit costs 2.4 yearly household incomes in Chilton County.
Buying the median-priced home in Chilton County costs roughly 14.6 years of rent at the median monthly rate. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Chilton County. The price-to-rent ratio in Alabama is about 13.7.
| Metric | Chilton County | Alabama Avg | US Average |
|---|---|---|---|
| Median Home Price | $150,169 | $158,589 | $242,182 |
| Median Household Income | $62,783 | $62,318 | $78,145 |
| Price-to-Income Ratio | 2.4 | 2.5 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Chilton County rose about 348.1%, while median household income rose about 60.7% between 2009 and 2023 — the home price grew faster than income.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Chilton County | Alabama Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 68.5% | 59.5% | 58.2% |
| Rental Rate | 20.6% | 25.6% | 31.3% |
| Vacancy Rate | 10.9% | 15.0% | 10.6% |
| Median Tenure (years) | 17.0 | 16.0 | 15.0 |
| Median Year Moved In | 2009 | 2010 | 2011 |
Chilton County has a homeownership rate of 68.5%, higher than the Alabama average of 59.5%. Its housing vacancy rate is 10.9%, compared with 15.0% in Alabama.
Housing Stock
| Metric | Chilton County | Alabama Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.57 people | 2.50 people | 2.54 people |
| Median Structure Built Year | 1988 | 1985 | 1978 |
| Median Number of Rooms | 5.8 | 5.8 | 5.5 |
The typical housing unit in Chilton County was built around 1988. On average, 2.6 people live in a home with about 5.8 rooms, staying for about 17.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Chilton County, Alabama.
What is the median home price in Chilton County, Alabama?
The median home price in Chilton County, Alabama is $150,169, lower than the Alabama average of $158,589.
What is the average home price in Chilton 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 Chilton County, Alabama?
The median gross rent in Chilton County, Alabama is $855 per month, lower than the Alabama average of $962.
What was the median gross rent in Chilton County in 2020?
In 2020, the median gross rent in Chilton County, Alabama was $683 per month.
What is the price-to-rent ratio in Chilton County, Alabama?
The price-to-rent ratio in Chilton County, Alabama is about 14.6, meaning it would take roughly 14.6 years of rent payments at the median rent to equal the median home price. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Chilton County.
Are home prices or rent rising faster in Chilton County, Alabama?
Both home prices and rent are rising in Chilton County, up about 30.5% and 4.2% a year respectively. Home prices are changing faster.
What is the homeownership rate in Chilton County, Alabama?
68.5% of households in Chilton County, Alabama own their home, higher than the Alabama average of 59.5%.
What is the vacancy rate in Chilton County, Alabama?
The housing vacancy rate in Chilton County, Alabama is 10.9%, lower than the Alabama average of 15.0%.