Opelika, Alabama Housing Market Prices
Opelika 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 2% below the Alabama median$157,478
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Median rent 12% below the Alabama median$888
Housing Market Overview
| Metric | Opelika | Alabama Avg | US Average |
|---|---|---|---|
| Median Home Price | $157,478 | $160,474 | $248,835 |
| Price Trend (Annual %) | 31.4% | 6.3% | 7.5% |
| Median Gross Rent | $888 | $1,007 | $1,407 |
| Rent Trend (Annual %) | 2.8% | 4.2% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Opelika is about 2% lower than in Alabama. Rent is about 12% 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 Opelika, up about 31.4% and 2.8% a year respectively. Home prices are changing faster.
Median rent in Opelika rose about 21.0% between 2015 and 2024, from $734 to $888. Over the same span, rent in Alabama rose about 40.5%.
Affordability
On average, housing unit costs 2.6 yearly household incomes in Opelika.
Buying the median-priced home in Opelika costs roughly 14.8 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 Opelika. The price-to-rent ratio in Alabama is about 13.3.
| Metric | Opelika | Alabama Avg | US Average |
|---|---|---|---|
| Median Home Price | $157,478 | $160,474 | $248,835 |
| Median Household Income | $60,721 | $64,544 | $80,455 |
| Price-to-Income Ratio | 2.6 | 2.5 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Opelika rose about 17.1%, while median household income rose about 70.2% between 2009 and 2025 — income grew faster than the home price.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Opelika | Alabama Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 58.7% | 60.0% | 58.5% |
| Rental Rate | 31.3% | 25.5% | 31.2% |
| Vacancy Rate | 10.0% | 14.5% | 10.2% |
| Median Tenure (years) | 12.0 | 16.0 | 15.0 |
| Median Year Moved In | 2014 | 2010 | 2011 |
Opelika has a homeownership rate of 58.7%, lower than the Alabama average of 60.0%. Its housing vacancy rate is 10.0%, compared with 14.5% in Alabama.
Housing Stock
| Metric | Opelika | Alabama Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.36 people | 2.48 people | 2.53 people |
| Median Structure Built Year | 1989 | 1985 | 1978 |
| Median Number of Rooms | 5.5 | 5.9 | 5.5 |
The typical housing unit in Opelika was built around 1989. On average, 2.4 people live in a home with about 5.5 rooms, staying for about 12.0 years on average.
Opelika, AL Housing Compared With Nearby Cities
How Opelika, AL compares with the 1 cities closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Opelika, AL | 28,165 | $157,478 #2/2 | $888 #2/2 | 65.3% #1/2 |
| Auburn, AL | 68,130 | $286,410 | $1,092 | 49.8% |
Frequently Asked Questions
Common questions about the housing market in Opelika, Alabama.
What is the median home price in Opelika, Alabama?
The median home price in Opelika, Alabama is $157,478, lower than the Alabama average of $160,474.
What is the average home price in Opelika, Alabama?
The typical home price in Opelika, Alabama, reported as the median sale price, is $157,478. 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 Opelika, Alabama?
The median gross rent in Opelika, Alabama is $888 per month, lower than the Alabama average of $1,007.
What was the median gross rent in Opelika in 2020?
In 2020, the median gross rent in Opelika, Alabama was $721 per month.
What is the price-to-rent ratio in Opelika, Alabama?
The price-to-rent ratio in Opelika, Alabama is about 14.8, meaning it would take roughly 14.8 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 Opelika.
Are home prices or rent rising faster in Opelika, Alabama?
Both home prices and rent are rising in Opelika, up about 31.4% and 2.8% a year respectively. Home prices are changing faster.
What is the homeownership rate in Opelika, Alabama?
58.7% of households in Opelika, Alabama own their home, lower than the Alabama average of 60.0%.
What is the vacancy rate in Opelika, Alabama?
The housing vacancy rate in Opelika, Alabama is 10.0%, lower than the Alabama average of 14.5%.
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