Enterprise, Alabama Housing Market Prices
Enterprise Home Prices and Rent at a Glance
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 21% above the Alabama median$194,835
-
Median rent 7% above the Alabama median$1,082
Housing Market Overview
| Metric | Enterprise | Alabama Avg | US Average |
|---|---|---|---|
| Median Home Price | $194,835 | $160,474 | $248,835 |
| Price Trend (Annual %) | 6.0% | 6.3% | 7.5% |
| Median Gross Rent | $1,082 | $1,007 | $1,407 |
| Rent Trend (Annual %) | 4.4% | 4.2% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Enterprise is about 21% higher than in Alabama. Rent is about 7% higher than the Alabama average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Enterprise, up about 6.0% and 4.4% a year respectively. Home prices are changing faster.
Median rent in Enterprise rose about 44.1% between 2015 and 2024, from $751 to $1,082. Over the same span, rent in Alabama rose about 40.5%.
Affordability
On average, housing unit costs 2.7 yearly household incomes in Enterprise.
Buying the median-priced home in Enterprise costs roughly 15.0 years of rent at the median monthly rate. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Enterprise. The price-to-rent ratio in Alabama is about 13.3.
| Metric | Enterprise | Alabama Avg | US Average |
|---|---|---|---|
| Median Home Price | $194,835 | $160,474 | $248,835 |
| Median Household Income | $71,966 | $64,544 | $80,455 |
| Price-to-Income Ratio | 2.7 | 2.5 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Enterprise rose about 22.8%, while median household income rose about 47.7% between 2009 and 2025 — 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 | Enterprise | Alabama Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 54.7% | 60.0% | 58.5% |
| Rental Rate | 32.1% | 25.5% | 31.2% |
| Vacancy Rate | 13.3% | 14.5% | 10.2% |
| Median Tenure (years) | 11.0 | 16.0 | 15.0 |
| Median Year Moved In | 2015 | 2010 | 2011 |
Enterprise has a homeownership rate of 54.7%, lower than the Alabama average of 60.0%. Its housing vacancy rate is 13.3%, compared with 14.5% in Alabama.
Housing Stock
| Metric | Enterprise | Alabama Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.60 people | 2.48 people | 2.53 people |
| Median Structure Built Year | 1986 | 1985 | 1978 |
| Median Number of Rooms | 6.1 | 5.9 | 5.5 |
The typical housing unit in Enterprise was built around 1986. On average, 2.6 people live in a home with about 6.1 rooms, staying for about 11.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Enterprise, Alabama.
What is the median home price in Enterprise, Alabama?
The median home price in Enterprise, Alabama is $194,835, higher than the Alabama average of $160,474.
What is the average home price in Enterprise, Alabama?
The typical home price in Enterprise, Alabama, reported as the median sale price, is $194,835. 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 Enterprise, Alabama?
The median gross rent in Enterprise, Alabama is $1,082 per month, higher than the Alabama average of $1,007.
What was the median gross rent in Enterprise in 2020?
In 2020, the median gross rent in Enterprise, Alabama was $842 per month.
What is the price-to-rent ratio in Enterprise, Alabama?
The price-to-rent ratio in Enterprise, Alabama is about 15.0, meaning it would take roughly 15.0 years of rent payments at the median rent to equal the median home price. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Enterprise.
Are home prices or rent rising faster in Enterprise, Alabama?
Both home prices and rent are rising in Enterprise, up about 6.0% and 4.4% a year respectively. Home prices are changing faster.
What is the homeownership rate in Enterprise, Alabama?
54.7% of households in Enterprise, Alabama own their home, lower than the Alabama average of 60.0%.
What is the vacancy rate in Enterprise, Alabama?
The housing vacancy rate in Enterprise, Alabama is 13.3%, lower than the Alabama average of 14.5%.
Analyze any area in the US
Get local demographics for any address, aggregated by drive time or radius, on the interactive map.
Explore the map →