Gadsden, Alabama Housing Market Prices
Gadsden 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.
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Median home price 43% below the Alabama median$91,659
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Median rent 19% below the Alabama median$814
Housing Market Overview
| Metric | Gadsden | Alabama Avg | US Average |
|---|---|---|---|
| Median Home Price | $91,659 | $160,474 | $248,835 |
| Price Trend (Annual %) | 15.0% | 6.3% | 7.5% |
| Median Gross Rent | $814 | $1,007 | $1,407 |
| Rent Trend (Annual %) | 4.0% | 4.2% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Gadsden is about 43% lower than in Alabama. Rent is about 19% lower 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 Gadsden, up about 15.0% and 4.0% a year respectively. Home prices are changing faster.
Median rent in Gadsden rose about 39.4% between 2015 and 2024, from $584 to $814. Over the same span, rent in Alabama rose about 40.5%.
Affordability
On average, housing unit costs 2.3 yearly household incomes in Gadsden.
Buying the median-priced home in Gadsden costs roughly 9.4 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 Gadsden. The price-to-rent ratio in Alabama is about 13.3.
| Metric | Gadsden | Alabama Avg | US Average |
|---|---|---|---|
| Median Home Price | $91,659 | $160,474 | $248,835 |
| Median Household Income | $40,054 | $64,544 | $80,455 |
| Price-to-Income Ratio | 2.3 | 2.5 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Gadsden rose about 139.4%, while median household income rose about 35.4% between 2009 and 2025 — 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 | Gadsden | Alabama Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 42.0% | 60.0% | 58.5% |
| Rental Rate | 35.8% | 25.5% | 31.2% |
| Vacancy Rate | 22.2% | 14.5% | 10.2% |
| Median Tenure (years) | 14.0 | 16.0 | 15.0 |
| Median Year Moved In | 2012 | 2010 | 2011 |
Gadsden has a homeownership rate of 42.0%, lower than the Alabama average of 60.0%. Its housing vacancy rate is 22.2%, compared with 14.5% in Alabama.
Housing Stock
| Metric | Gadsden | Alabama Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.48 people | 2.48 people | 2.53 people |
| Median Structure Built Year | 1961 | 1985 | 1978 |
| Median Number of Rooms | 5.6 | 5.9 | 5.5 |
The typical housing unit in Gadsden was built around 1961. On average, 2.5 people live in a home with about 5.6 rooms, staying for about 14.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Gadsden, Alabama.
What is the median home price in Gadsden, Alabama?
The median home price in Gadsden, Alabama is $91,659, lower than the Alabama average of $160,474.
What is the average home price in Gadsden, Alabama?
The typical home price in Gadsden, Alabama, reported as the median sale price, is $91,659. 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 Gadsden, Alabama?
The median gross rent in Gadsden, Alabama is $814 per month, lower than the Alabama average of $1,007.
What was the median gross rent in Gadsden in 2020?
In 2020, the median gross rent in Gadsden, Alabama was $647 per month.
What is the price-to-rent ratio in Gadsden, Alabama?
The price-to-rent ratio in Gadsden, Alabama is about 9.4, meaning it would take roughly 9.4 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 Gadsden.
Are home prices or rent rising faster in Gadsden, Alabama?
Both home prices and rent are rising in Gadsden, up about 15.0% and 4.0% a year respectively. Home prices are changing faster.
What is the homeownership rate in Gadsden, Alabama?
42.0% of households in Gadsden, Alabama own their home, lower than the Alabama average of 60.0%.
What is the vacancy rate in Gadsden, Alabama?
The housing vacancy rate in Gadsden, Alabama is 22.2%, higher than the Alabama average of 14.5%.
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