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 | Limestone County | Alabama Avg | US Average |
|---|---|---|---|
| Median Home Price | $260,000 | $158,589 | $242,182 |
| Price Trend (Annual %) | 12.1% | 7.1% | 8.2% |
| Median Gross Rent | $908 | $962 | $1,342 |
| Rent Trend (Annual %) | 5.5% | 4.1% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Limestone County is about 64% higher than in Alabama. Rent is about 6% 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 Limestone County, up about 12.1% and 5.5% a year respectively. Home prices are changing faster.
Median rent in Limestone County rose about 47.3% between 2015 and 2023, from $616 to $908. Over the same span, rent in Alabama rose about 34.2%.
Affordability
On average, housing unit costs 3.1 yearly household incomes in Limestone County.
Buying the median-priced home in Limestone County costs roughly 23.9 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 Limestone County. The price-to-rent ratio in Alabama is about 13.7.
| Metric | Limestone County | Alabama Avg | US Average |
|---|---|---|---|
| Median Home Price | $260,000 | $158,589 | $242,182 |
| Median Household Income | $83,618 | $62,318 | $78,145 |
| Price-to-Income Ratio | 3.1 | 2.5 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Limestone County rose about 103.1%, while median household income rose about 85.8% 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 | Limestone County | Alabama Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 71.3% | 59.5% | 58.2% |
| Rental Rate | 20.7% | 25.6% | 31.3% |
| Vacancy Rate | 8.0% | 15.0% | 10.6% |
| Median Tenure (years) | 14.0 | 16.0 | 15.0 |
| Median Year Moved In | 2012 | 2010 | 2011 |
Limestone County has a homeownership rate of 71.3%, higher than the Alabama average of 59.5%. Its housing vacancy rate is 8.0%, compared with 15.0% in Alabama.
Housing Stock
| Metric | Limestone County | Alabama Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.61 people | 2.50 people | 2.54 people |
| Median Structure Built Year | 1995 | 1985 | 1978 |
| Median Number of Rooms | 6.2 | 5.8 | 5.5 |
The typical housing unit in Limestone County was built around 1995. On average, 2.6 people live in a home with about 6.2 rooms, staying for about 14.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Limestone County, Alabama.
What is the median home price in Limestone County, Alabama?
The median home price in Limestone County, Alabama is $260,000, higher than the Alabama average of $158,589.
What is the average home price in Limestone 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 Limestone County, Alabama?
The median gross rent in Limestone County, Alabama is $908 per month, lower than the Alabama average of $962.
What was the median gross rent in Limestone County in 2020?
In 2020, the median gross rent in Limestone County, Alabama was $723 per month.
What is the price-to-rent ratio in Limestone County, Alabama?
The price-to-rent ratio in Limestone County, Alabama is about 23.9, meaning it would take roughly 23.9 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 Limestone County.
Are home prices or rent rising faster in Limestone County, Alabama?
Both home prices and rent are rising in Limestone County, up about 12.1% and 5.5% a year respectively. Home prices are changing faster.
What is the homeownership rate in Limestone County, Alabama?
71.3% of households in Limestone County, Alabama own their home, higher than the Alabama average of 59.5%.
What is the vacancy rate in Limestone County, Alabama?
The housing vacancy rate in Limestone County, Alabama is 8.0%, lower than the Alabama average of 15.0%.