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 | Dallas County | Alabama Avg | US Average |
|---|---|---|---|
| Median Home Price | $48,055 | $158,589 | $242,182 |
| Price Trend (Annual %) | 0.7% | 7.1% | 8.2% |
| Median Gross Rent | $748 | $962 | $1,342 |
| Rent Trend (Annual %) | 3.7% | 4.1% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Dallas County is about 70% lower than in Alabama. Rent is about 22% 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 Dallas County, up about 0.7% and 3.7% a year respectively. Rent is changing faster.
Median rent in Dallas County rose about 32.8% between 2015 and 2023, from $563 to $748. Over the same span, rent in Alabama rose about 34.2%.
Affordability
On average, housing unit costs 1.3 yearly household incomes in Dallas County.
Buying the median-priced home in Dallas County costs roughly 5.4 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 Dallas County. The price-to-rent ratio in Alabama is about 13.7.
| Metric | Dallas County | Alabama Avg | US Average |
|---|---|---|---|
| Median Home Price | $48,055 | $158,589 | $242,182 |
| Median Household Income | $36,247 | $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 Dallas County fell about 10.9%, while median household income rose about 36.4% 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 | Dallas County | Alabama Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 49.6% | 59.5% | 58.2% |
| Rental Rate | 31.7% | 25.6% | 31.3% |
| Vacancy Rate | 18.6% | 15.0% | 10.6% |
| Median Tenure (years) | 22.0 | 16.0 | 15.0 |
| Median Year Moved In | 2004 | 2010 | 2011 |
Dallas County has a homeownership rate of 49.6%, lower than the Alabama average of 59.5%. Its housing vacancy rate is 18.6%, compared with 15.0% in Alabama.
Housing Stock
| Metric | Dallas County | Alabama Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.40 people | 2.50 people | 2.54 people |
| Median Structure Built Year | 1976 | 1985 | 1978 |
| Median Number of Rooms | 5.8 | 5.8 | 5.5 |
The typical housing unit in Dallas County was built around 1976. On average, 2.4 people live in a home with about 5.8 rooms, staying for about 22.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Dallas County, Alabama.
What is the median home price in Dallas County, Alabama?
The median home price in Dallas County, Alabama is $48,055, lower than the Alabama average of $158,589.
What is the average home price in Dallas 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 Dallas County, Alabama?
The median gross rent in Dallas County, Alabama is $748 per month, lower than the Alabama average of $962.
What was the median gross rent in Dallas County in 2020?
In 2020, the median gross rent in Dallas County, Alabama was $674 per month.
What is the price-to-rent ratio in Dallas County, Alabama?
The price-to-rent ratio in Dallas County, Alabama is about 5.4, meaning it would take roughly 5.4 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 Dallas County.
Are home prices or rent rising faster in Dallas County, Alabama?
Both home prices and rent are rising in Dallas County, up about 0.7% and 3.7% a year respectively. Rent is changing faster.
What is the homeownership rate in Dallas County, Alabama?
49.6% of households in Dallas County, Alabama own their home, lower than the Alabama average of 59.5%.
What is the vacancy rate in Dallas County, Alabama?
The housing vacancy rate in Dallas County, Alabama is 18.6%, higher than the Alabama average of 15.0%.