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 | Walker County | Alabama Avg | US Average |
|---|---|---|---|
| Median Home Price | $157,098 | $158,589 | $242,182 |
| Price Trend (Annual %) | 41.5% | 7.1% | 8.2% |
| Median Gross Rent | $742 | $962 | $1,342 |
| Rent Trend (Annual %) | 3.0% | 4.1% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Walker County is about 1% lower than in Alabama. Rent is about 23% 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 Walker County, up about 41.5% and 3.0% a year respectively. Home prices are changing faster.
Median rent in Walker County rose about 27.2% between 2015 and 2023, from $583 to $742. Over the same span, rent in Alabama rose about 34.2%.
Affordability
On average, housing unit costs 2.9 yearly household incomes in Walker County.
Buying the median-priced home in Walker County costs roughly 17.6 years of rent at the median monthly rate. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Walker County. The price-to-rent ratio in Alabama is about 13.7.
| Metric | Walker County | Alabama Avg | US Average |
|---|---|---|---|
| Median Home Price | $157,098 | $158,589 | $242,182 |
| Median Household Income | $54,035 | $62,318 | $78,145 |
| Price-to-Income Ratio | 2.9 | 2.5 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Walker County rose about 250.6%, 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 | Walker County | Alabama Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 63.7% | 59.5% | 58.2% |
| Rental Rate | 18.5% | 25.6% | 31.3% |
| Vacancy Rate | 17.8% | 15.0% | 10.6% |
| Median Tenure (years) | 19.0 | 16.0 | 15.0 |
| Median Year Moved In | 2007 | 2010 | 2011 |
Walker County has a homeownership rate of 63.7%, higher than the Alabama average of 59.5%. Its housing vacancy rate is 17.8%, compared with 15.0% in Alabama.
Housing Stock
| Metric | Walker County | Alabama Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.57 people | 2.50 people | 2.54 people |
| Median Structure Built Year | 1982 | 1985 | 1978 |
| Median Number of Rooms | 5.6 | 5.8 | 5.5 |
The typical housing unit in Walker County was built around 1982. On average, 2.6 people live in a home with about 5.6 rooms, staying for about 19.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Walker County, Alabama.
What is the median home price in Walker County, Alabama?
The median home price in Walker County, Alabama is $157,098, lower than the Alabama average of $158,589.
What is the average home price in Walker 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 Walker County, Alabama?
The median gross rent in Walker County, Alabama is $742 per month, lower than the Alabama average of $962.
What was the median gross rent in Walker County in 2020?
In 2020, the median gross rent in Walker County, Alabama was $639 per month.
What is the price-to-rent ratio in Walker County, Alabama?
The price-to-rent ratio in Walker County, Alabama is about 17.6, meaning it would take roughly 17.6 years of rent payments at the median rent to equal the median home price. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Walker County.
Are home prices or rent rising faster in Walker County, Alabama?
Both home prices and rent are rising in Walker County, up about 41.5% and 3.0% a year respectively. Home prices are changing faster.
What is the homeownership rate in Walker County, Alabama?
63.7% of households in Walker County, Alabama own their home, higher than the Alabama average of 59.5%.
What is the vacancy rate in Walker County, Alabama?
The housing vacancy rate in Walker County, Alabama is 17.8%, higher than the Alabama average of 15.0%.