Alabama Housing Market Prices
Alabama 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 36% below the US median$160,474
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Median rent 28% below the US median Cheaper than 82% of states in US$1,007
Median Home Price Map: Counties in Alabama
Housing Market Overview
| Metric | Alabama | US Average |
|---|---|---|
| Median Home Price | $160,474 | $248,835 |
| Price Trend (Annual %) | 6.3% | 7.5% |
| Median Gross Rent | $1,007 | $1,407 |
| Rent Trend (Annual %) | 4.2% | 5.1% |
| Household Income Trend (Annual %) | — | — |
The median home price in Alabama is about 36% lower than in US. Rent is about 28% lower than the US 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 Alabama, up about 6.3% and 4.2% a year respectively. Home prices are changing faster.
Median rent in Alabama rose about 40.5% between 2015 and 2024, from $717 to $1,007. Over the same span, rent in US rose about 52.1%.
Affordability
On average, housing unit costs 2.5 yearly household incomes in Alabama.
Buying the median-priced home in Alabama costs roughly 13.3 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 Alabama. The price-to-rent ratio in US is about 14.7.
| Metric | Alabama | US Average |
|---|---|---|
| Median Home Price | $160,474 | $248,835 |
| Median Household Income | $64,544 | $80,455 |
| Price-to-Income Ratio | 2.5 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Alabama rose about 54.0%, while median household income rose about 53.1% between 2009 and 2025 — keeping pace with each other.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Alabama | US Average |
|---|---|---|
| Homeownership Rate | 60.0% | 58.5% |
| Rental Rate | 25.5% | 31.2% |
| Vacancy Rate | 14.5% | 10.2% |
| Median Tenure (years) | 16.0 | 15.0 |
| Median Year Moved In | 2010 | 2011 |
Alabama has a homeownership rate of 60.0%, higher than the US average of 58.5%. Its housing vacancy rate is 14.5%, compared with 10.2% in US.
Housing Stock
| Metric | Alabama | US Average |
|---|---|---|
| Average Household Size | 2.48 people | 2.53 people |
| Median Structure Built Year | 1985 | 1978 |
| Median Number of Rooms | 5.9 | 5.5 |
The typical housing unit in Alabama was built around 1985. On average, 2.5 people live in a home with about 5.9 rooms, staying for about 16.0 years on average.
Alabama Housing Compared With Nearby States
Alabama is typical in size for this group, 5,083,438 residents against a local median of 4,610,276, so the measures below are close to a like for like comparison. Alabama sits close to the middle of its own neighbourhood. No measure below is more than 15% off the local median, so the choice between these states turns on things this data does not capture.
The largest of those small differences is median home price, 6% below the local median at $160,474 against $170,446. Alabama has the 4th highest median home price of the 6 areas compared here.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Alabama | 5,083,438 | $160,474 #4/6 | $1,007 #4/6 | 70.2% #1/6 |
| Mississippi | 2,946,497 | $130,069 | $954 | 70.0% |
| Tennessee | 7,058,506 | $255,786 | $1,188 | 66.9% |
| Georgia | 10,939,918 | $256,986 | $1,392 | 65.7% |
| Kentucky | 4,533,530 | $118,017 | $967 | 68.3% |
| Louisiana | 4,610,276 | $170,446 | $1,063 | 67.4% |
Frequently Asked Questions
Common questions about the housing market in Alabama.
What is the median home price in Alabama?
The median home price in Alabama is $160,474, lower than the US average of $248,835.
What is the average home price in Alabama?
The typical home price in Alabama, reported as the median sale price, is $160,474. 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 Alabama?
The median gross rent in Alabama is $1,007 per month, lower than the US average of $1,407.
What was the median gross rent in Alabama in 2020?
In 2020, the median gross rent in Alabama was $811 per month.
What is the price-to-rent ratio in Alabama?
The price-to-rent ratio in Alabama is about 13.3, meaning it would take roughly 13.3 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 Alabama.
Are home prices or rent rising faster in Alabama?
Both home prices and rent are rising in Alabama, up about 6.3% and 4.2% a year respectively. Home prices are changing faster.
What is the homeownership rate in Alabama?
60.0% of households in Alabama own their home, higher than the US average of 58.5%.
What is the vacancy rate in Alabama?
The housing vacancy rate in Alabama is 14.5%, higher than the US average of 10.2%.
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