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 | Randolph County | Alabama Avg | US Average |
|---|---|---|---|
| Median Home Price | $214,796 | $158,589 | $242,182 |
| Price Trend (Annual %) | 24.2% | 7.1% | 8.2% |
| Median Gross Rent | $645 | $962 | $1,342 |
| Rent Trend (Annual %) | 1.0% | 4.1% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Randolph County is about 35% higher than in Alabama. Rent is about 33% 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 Randolph County, up about 24.2% and 1.0% a year respectively. Home prices are changing faster.
Median rent in Randolph County rose about 6.9% between 2015 and 2023, from $603 to $645. Over the same span, rent in Alabama rose about 34.2%.
Affordability
On average, housing unit costs 4.2 yearly household incomes in Randolph County.
Buying the median-priced home in Randolph County costs roughly 27.8 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 Randolph County. The price-to-rent ratio in Alabama is about 13.7.
| Metric | Randolph County | Alabama Avg | US Average |
|---|---|---|---|
| Median Home Price | $214,796 | $158,589 | $242,182 |
| Median Household Income | $51,693 | $62,318 | $78,145 |
| Price-to-Income Ratio | 4.2 | 2.5 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Randolph County rose about 167.6%, while median household income rose about 47.3% 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 | Randolph County | Alabama Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 57.6% | 59.5% | 58.2% |
| Rental Rate | 15.6% | 25.6% | 31.3% |
| Vacancy Rate | 26.8% | 15.0% | 10.6% |
| Median Tenure (years) | 18.0 | 16.0 | 15.0 |
| Median Year Moved In | 2008 | 2010 | 2011 |
Randolph County has a homeownership rate of 57.6%, lower than the Alabama average of 59.5%. Its housing vacancy rate is 26.8%, compared with 15.0% in Alabama.
Housing Stock
| Metric | Randolph County | Alabama Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.38 people | 2.50 people | 2.54 people |
| Median Structure Built Year | 1986 | 1985 | 1978 |
| Median Number of Rooms | 5.9 | 5.8 | 5.5 |
The typical housing unit in Randolph County was built around 1986. On average, 2.4 people live in a home with about 5.9 rooms, staying for about 18.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Randolph County, Alabama.
What is the median home price in Randolph County, Alabama?
The median home price in Randolph County, Alabama is $214,796, higher than the Alabama average of $158,589.
What is the average home price in Randolph 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 Randolph County, Alabama?
The median gross rent in Randolph County, Alabama is $645 per month, lower than the Alabama average of $962.
What was the median gross rent in Randolph County in 2020?
In 2020, the median gross rent in Randolph County, Alabama was $639 per month.
What is the price-to-rent ratio in Randolph County, Alabama?
The price-to-rent ratio in Randolph County, Alabama is about 27.8, meaning it would take roughly 27.8 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 Randolph County.
Are home prices or rent rising faster in Randolph County, Alabama?
Both home prices and rent are rising in Randolph County, up about 24.2% and 1.0% a year respectively. Home prices are changing faster.
What is the homeownership rate in Randolph County, Alabama?
57.6% of households in Randolph County, Alabama own their home, lower than the Alabama average of 59.5%.
What is the vacancy rate in Randolph County, Alabama?
The housing vacancy rate in Randolph County, Alabama is 26.8%, higher than the Alabama average of 15.0%.