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 | Pickens County | Alabama Avg | US Average |
|---|---|---|---|
| Median Home Price | $280,555 | $158,589 | $242,182 |
| Price Trend (Annual %) | 316.2% | 7.1% | 8.2% |
| Median Gross Rent | $600 | $962 | $1,342 |
| Rent Trend (Annual %) | 5.3% | 4.1% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Pickens County is about 77% higher than in Alabama. Rent is about 38% 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 Pickens County, up about 316.2% and 5.3% a year respectively. Home prices are changing faster.
Median rent in Pickens County rose about 34.1% between 2015 and 2023, from $447 to $600. Over the same span, rent in Alabama rose about 34.2%.
Affordability
On average, housing unit costs 6.0 yearly household incomes in Pickens County.
Buying the median-priced home in Pickens County costs roughly 39.0 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 Pickens County. The price-to-rent ratio in Alabama is about 13.7.
| Metric | Pickens County | Alabama Avg | US Average |
|---|---|---|---|
| Median Home Price | $280,555 | $158,589 | $242,182 |
| Median Household Income | $46,920 | $62,318 | $78,145 |
| Price-to-Income Ratio | 6.0 | 2.5 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Pickens County rose about 301.6%, while median household income rose about 75.2% 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 | Pickens County | Alabama Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 60.1% | 59.5% | 58.2% |
| Rental Rate | 19.6% | 25.6% | 31.3% |
| Vacancy Rate | 20.4% | 15.0% | 10.6% |
| Median Tenure (years) | 19.0 | 16.0 | 15.0 |
| Median Year Moved In | 2007 | 2010 | 2011 |
Pickens County has a homeownership rate of 60.1%, higher than the Alabama average of 59.5%. Its housing vacancy rate is 20.4%, compared with 15.0% in Alabama.
Housing Stock
| Metric | Pickens County | Alabama Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.47 people | 2.50 people | 2.54 people |
| Median Structure Built Year | 1982 | 1985 | 1978 |
| Median Number of Rooms | 5.8 | 5.8 | 5.5 |
The typical housing unit in Pickens County was built around 1982. On average, 2.5 people live in a home with about 5.8 rooms, staying for about 19.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Pickens County, Alabama.
What is the median home price in Pickens County, Alabama?
The median home price in Pickens County, Alabama is $280,555, higher than the Alabama average of $158,589.
What is the average home price in Pickens 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 Pickens County, Alabama?
The median gross rent in Pickens County, Alabama is $600 per month, lower than the Alabama average of $962.
What was the median gross rent in Pickens County in 2020?
In 2020, the median gross rent in Pickens County, Alabama was $468 per month.
What is the price-to-rent ratio in Pickens County, Alabama?
The price-to-rent ratio in Pickens County, Alabama is about 39.0, meaning it would take roughly 39.0 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 Pickens County.
Are home prices or rent rising faster in Pickens County, Alabama?
Both home prices and rent are rising in Pickens County, up about 316.2% and 5.3% a year respectively. Home prices are changing faster.
What is the homeownership rate in Pickens County, Alabama?
60.1% of households in Pickens County, Alabama own their home, higher than the Alabama average of 59.5%.
What is the vacancy rate in Pickens County, Alabama?
The housing vacancy rate in Pickens County, Alabama is 20.4%, higher than the Alabama average of 15.0%.