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 | Escambia County | Alabama Avg | US Average |
|---|---|---|---|
| Median Home Price | $219,166 | $158,589 | $242,182 |
| Price Trend (Annual %) | 14.6% | 7.1% | 8.2% |
| Median Gross Rent | $708 | $962 | $1,342 |
| Rent Trend (Annual %) | 3.4% | 4.1% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Escambia County is about 38% higher than in Alabama. Rent is about 26% 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 Escambia County, up about 14.6% and 3.4% a year respectively. Home prices are changing faster.
Median rent in Escambia County rose about 26.4% between 2015 and 2023, from $560 to $708. Over the same span, rent in Alabama rose about 34.2%.
Affordability
On average, housing unit costs 4.9 yearly household incomes in Escambia County.
Buying the median-priced home in Escambia County costs roughly 25.8 years of rent at the median monthly rate. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Escambia County. The price-to-rent ratio in Alabama is about 13.7.
| Metric | Escambia County | Alabama Avg | US Average |
|---|---|---|---|
| Median Home Price | $219,166 | $158,589 | $242,182 |
| Median Household Income | $44,388 | $62,318 | $78,145 |
| Price-to-Income Ratio | 4.9 | 2.5 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Escambia County rose about 85.8%, while median household income rose about 35.6% 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 | Escambia County | Alabama Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 52.4% | 59.5% | 58.2% |
| Rental Rate | 23.9% | 25.6% | 31.3% |
| Vacancy Rate | 23.7% | 15.0% | 10.6% |
| Median Tenure (years) | 18.0 | 16.0 | 15.0 |
| Median Year Moved In | 2008 | 2010 | 2011 |
Escambia County has a homeownership rate of 52.4%, lower than the Alabama average of 59.5%. Its housing vacancy rate is 23.7%, compared with 15.0% in Alabama.
Housing Stock
| Metric | Escambia County | Alabama Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.67 people | 2.50 people | 2.54 people |
| Median Structure Built Year | 1984 | 1985 | 1978 |
| Median Number of Rooms | 5.3 | 5.8 | 5.5 |
The typical housing unit in Escambia County was built around 1984. On average, 2.7 people live in a home with about 5.3 rooms, staying for about 18.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Escambia County, Alabama.
What is the median home price in Escambia County, Alabama?
The median home price in Escambia County, Alabama is $219,166, higher than the Alabama average of $158,589.
What is the average home price in Escambia 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 Escambia County, Alabama?
The median gross rent in Escambia County, Alabama is $708 per month, lower than the Alabama average of $962.
What was the median gross rent in Escambia County in 2020?
In 2020, the median gross rent in Escambia County, Alabama was $606 per month.
What is the price-to-rent ratio in Escambia County, Alabama?
The price-to-rent ratio in Escambia County, Alabama is about 25.8, meaning it would take roughly 25.8 years of rent payments at the median rent to equal the median home price. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Escambia County.
Are home prices or rent rising faster in Escambia County, Alabama?
Both home prices and rent are rising in Escambia County, up about 14.6% and 3.4% a year respectively. Home prices are changing faster.
What is the homeownership rate in Escambia County, Alabama?
52.4% of households in Escambia County, Alabama own their home, lower than the Alabama average of 59.5%.
What is the vacancy rate in Escambia County, Alabama?
The housing vacancy rate in Escambia County, Alabama is 23.7%, higher than the Alabama average of 15.0%.