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 | Jefferson County | Alabama Avg | US Average |
|---|---|---|---|
| Median Home Price | $158,376 | $158,589 | $242,182 |
| Price Trend (Annual %) | 8.0% | 7.1% | 8.2% |
| Median Gross Rent | $1,131 | $962 | $1,342 |
| Rent Trend (Annual %) | 4.7% | 4.1% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Jefferson County is about the same as in Alabama. Rent is about 18% higher 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 Jefferson County, up about 8.0% and 4.7% a year respectively. Home prices are changing faster.
Median rent in Jefferson County rose about 39.7% between 2015 and 2023, from $810 to $1,131. Over the same span, rent in Alabama rose about 34.2%.
Affordability
On average, housing unit costs 2.4 yearly household incomes in Jefferson County.
Buying the median-priced home in Jefferson County costs roughly 11.7 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 Jefferson County. The price-to-rent ratio in Alabama is about 13.7.
| Metric | Jefferson County | Alabama Avg | US Average |
|---|---|---|---|
| Median Home Price | $158,376 | $158,589 | $242,182 |
| Median Household Income | $64,995 | $62,318 | $78,145 |
| Price-to-Income Ratio | 2.4 | 2.5 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Jefferson County rose about 70.4%, while median household income rose about 45.3% 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 | Jefferson County | Alabama Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 55.4% | 59.5% | 58.2% |
| Rental Rate | 31.5% | 25.6% | 31.3% |
| Vacancy Rate | 13.1% | 15.0% | 10.6% |
| Median Tenure (years) | 15.0 | 16.0 | 15.0 |
| Median Year Moved In | 2011 | 2010 | 2011 |
Jefferson County has a homeownership rate of 55.4%, lower than the Alabama average of 59.5%. Its housing vacancy rate is 13.1%, compared with 15.0% in Alabama.
Housing Stock
| Metric | Jefferson County | Alabama Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.41 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 Jefferson County was built around 1976. On average, 2.4 people live in a home with about 5.8 rooms, staying for about 15.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Jefferson County, Alabama.
What is the median home price in Jefferson County, Alabama?
The median home price in Jefferson County, Alabama is $158,376, about the same as the Alabama average.
What is the average home price in Jefferson 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 Jefferson County, Alabama?
The median gross rent in Jefferson County, Alabama is $1,131 per month, higher than the Alabama average of $962.
What was the median gross rent in Jefferson County in 2020?
In 2020, the median gross rent in Jefferson County, Alabama was $933 per month.
What is the price-to-rent ratio in Jefferson County, Alabama?
The price-to-rent ratio in Jefferson County, Alabama is about 11.7, meaning it would take roughly 11.7 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 Jefferson County.
Are home prices or rent rising faster in Jefferson County, Alabama?
Both home prices and rent are rising in Jefferson County, up about 8.0% and 4.7% a year respectively. Home prices are changing faster.
What is the homeownership rate in Jefferson County, Alabama?
55.4% of households in Jefferson County, Alabama own their home, lower than the Alabama average of 59.5%.
What is the vacancy rate in Jefferson County, Alabama?
The housing vacancy rate in Jefferson County, Alabama is 13.1%, lower than the Alabama average of 15.0%.