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 | Cullman County | Alabama Avg | US Average |
|---|---|---|---|
| Median Home Price | $125,595 | $158,589 | $242,182 |
| Price Trend (Annual %) | 3.6% | 7.1% | 8.2% |
| Median Gross Rent | $882 | $962 | $1,342 |
| Rent Trend (Annual %) | 5.1% | 4.1% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Cullman County is about 21% lower than in Alabama. Rent is about 8% 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 Cullman County, up about 3.6% and 5.1% a year respectively. Rent is changing faster.
Median rent in Cullman County rose about 41.4% between 2015 and 2023, from $624 to $882. Over the same span, rent in Alabama rose about 34.2%.
Affordability
On average, housing unit costs 2.1 yearly household incomes in Cullman County.
Buying the median-priced home in Cullman County costs roughly 11.9 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 Cullman County. The price-to-rent ratio in Alabama is about 13.7.
| Metric | Cullman County | Alabama Avg | US Average |
|---|---|---|---|
| Median Home Price | $125,595 | $158,589 | $242,182 |
| Median Household Income | $61,076 | $62,318 | $78,145 |
| Price-to-Income Ratio | 2.1 | 2.5 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Cullman County rose about 5.8%, while median household income rose about 59.1% between 2009 and 2023 — income grew faster than the home price.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Cullman County | Alabama Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 66.7% | 59.5% | 58.2% |
| Rental Rate | 20.7% | 25.6% | 31.3% |
| Vacancy Rate | 12.6% | 15.0% | 10.6% |
| Median Tenure (years) | 16.0 | 16.0 | 15.0 |
| Median Year Moved In | 2010 | 2010 | 2011 |
Cullman County has a homeownership rate of 66.7%, higher than the Alabama average of 59.5%. Its housing vacancy rate is 12.6%, compared with 15.0% in Alabama.
Housing Stock
| Metric | Cullman County | Alabama Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.56 people | 2.50 people | 2.54 people |
| Median Structure Built Year | 1986 | 1985 | 1978 |
| Median Number of Rooms | 5.7 | 5.8 | 5.5 |
The typical housing unit in Cullman County was built around 1986. On average, 2.6 people live in a home with about 5.7 rooms, staying for about 16.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Cullman County, Alabama.
What is the median home price in Cullman County, Alabama?
The median home price in Cullman County, Alabama is $125,595, lower than the Alabama average of $158,589.
What is the average home price in Cullman 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 Cullman County, Alabama?
The median gross rent in Cullman County, Alabama is $882 per month, lower than the Alabama average of $962.
What was the median gross rent in Cullman County in 2020?
In 2020, the median gross rent in Cullman County, Alabama was $721 per month.
What is the price-to-rent ratio in Cullman County, Alabama?
The price-to-rent ratio in Cullman County, Alabama is about 11.9, meaning it would take roughly 11.9 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 Cullman County.
Are home prices or rent rising faster in Cullman County, Alabama?
Both home prices and rent are rising in Cullman County, up about 3.6% and 5.1% a year respectively. Rent is changing faster.
What is the homeownership rate in Cullman County, Alabama?
66.7% of households in Cullman County, Alabama own their home, higher than the Alabama average of 59.5%.
What is the vacancy rate in Cullman County, Alabama?
The housing vacancy rate in Cullman County, Alabama is 12.6%, lower than the Alabama average of 15.0%.