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 | Crenshaw County | Alabama Avg | US Average |
|---|---|---|---|
| Median Home Price | $64,204 | $158,589 | $242,182 |
| Price Trend (Annual %) | 11.6% | 7.1% | 8.2% |
| Median Gross Rent | $664 | $962 | $1,342 |
| Rent Trend (Annual %) | 3.8% | 4.1% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Crenshaw County is about 60% lower than in Alabama. Rent is about 31% 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 Crenshaw County, up about 11.6% and 3.8% a year respectively. Home prices are changing faster.
Median rent in Crenshaw County rose about 27.8% between 2015 and 2023, from $520 to $664. Over the same span, rent in Alabama rose about 34.2%.
Affordability
On average, housing unit costs 1.3 yearly household incomes in Crenshaw County.
Buying the median-priced home in Crenshaw County costs roughly 8.1 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 Crenshaw County. The price-to-rent ratio in Alabama is about 13.7.
| Metric | Crenshaw County | Alabama Avg | US Average |
|---|---|---|---|
| Median Home Price | $64,204 | $158,589 | $242,182 |
| Median Household Income | $49,109 | $62,318 | $78,145 |
| Price-to-Income Ratio | 1.3 | 2.5 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Crenshaw County rose about 107.1%, while median household income rose about 58.0% 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 | Crenshaw County | Alabama Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 57.4% | 59.5% | 58.2% |
| Rental Rate | 19.9% | 25.6% | 31.3% |
| Vacancy Rate | 22.7% | 15.0% | 10.6% |
| Median Tenure (years) | 17.0 | 16.0 | 15.0 |
| Median Year Moved In | 2009 | 2010 | 2011 |
Crenshaw County has a homeownership rate of 57.4%, lower than the Alabama average of 59.5%. Its housing vacancy rate is 22.7%, compared with 15.0% in Alabama.
Housing Stock
| Metric | Crenshaw County | Alabama Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.55 people | 2.50 people | 2.54 people |
| Median Structure Built Year | 1984 | 1985 | 1978 |
| Median Number of Rooms | 5.4 | 5.8 | 5.5 |
The typical housing unit in Crenshaw County was built around 1984. On average, 2.5 people live in a home with about 5.4 rooms, staying for about 17.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Crenshaw County, Alabama.
What is the median home price in Crenshaw County, Alabama?
The median home price in Crenshaw County, Alabama is $64,204, lower than the Alabama average of $158,589.
What is the average home price in Crenshaw 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 Crenshaw County, Alabama?
The median gross rent in Crenshaw County, Alabama is $664 per month, lower than the Alabama average of $962.
What was the median gross rent in Crenshaw County in 2020?
In 2020, the median gross rent in Crenshaw County, Alabama was $540 per month.
What is the price-to-rent ratio in Crenshaw County, Alabama?
The price-to-rent ratio in Crenshaw County, Alabama is about 8.1, meaning it would take roughly 8.1 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 Crenshaw County.
Are home prices or rent rising faster in Crenshaw County, Alabama?
Both home prices and rent are rising in Crenshaw County, up about 11.6% and 3.8% a year respectively. Home prices are changing faster.
What is the homeownership rate in Crenshaw County, Alabama?
57.4% of households in Crenshaw County, Alabama own their home, lower than the Alabama average of 59.5%.
What is the vacancy rate in Crenshaw County, Alabama?
The housing vacancy rate in Crenshaw County, Alabama is 22.7%, higher than the Alabama average of 15.0%.