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 | Washington County | Alabama Avg | US Average |
|---|---|---|---|
| Median Home Price | $127,778 | $158,589 | $242,182 |
| Price Trend (Annual %) | 49.0% | 7.1% | 8.2% |
| Median Gross Rent | $627 | $962 | $1,342 |
| Rent Trend (Annual %) | 0.5% | 4.1% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Washington County is about 19% lower than in Alabama. Rent is about 35% 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 Washington County, up about 49.0% and 0.5% a year respectively. Home prices are changing faster.
Median rent in Washington County rose about 10.2% between 2015 and 2023, from $569 to $627. Over the same span, rent in Alabama rose about 34.2%.
Affordability
On average, housing unit costs 2.1 yearly household incomes in Washington County.
Buying the median-priced home in Washington County costs roughly 17.0 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 Washington County. The price-to-rent ratio in Alabama is about 13.7.
| Metric | Washington County | Alabama Avg | US Average |
|---|---|---|---|
| Median Home Price | $127,778 | $158,589 | $242,182 |
| Median Household Income | $61,165 | $62,318 | $78,145 |
| Price-to-Income Ratio | 2.1 | 2.5 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Washington County rose about 501.3%, while median household income rose about 76.5% 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 | Washington County | Alabama Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 62.7% | 59.5% | 58.2% |
| Rental Rate | 10.3% | 25.6% | 31.3% |
| Vacancy Rate | 27.0% | 15.0% | 10.6% |
| Median Tenure (years) | 24.0 | 16.0 | 15.0 |
| Median Year Moved In | 2002 | 2010 | 2011 |
Washington County has a homeownership rate of 62.7%, higher than the Alabama average of 59.5%. Its housing vacancy rate is 27.0%, compared with 15.0% in Alabama.
Housing Stock
| Metric | Washington County | Alabama Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.67 people | 2.50 people | 2.54 people |
| Median Structure Built Year | 1983 | 1985 | 1978 |
| Median Number of Rooms | 5.9 | 5.8 | 5.5 |
The typical housing unit in Washington County was built around 1983. On average, 2.7 people live in a home with about 5.9 rooms, staying for about 24.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Washington County, Alabama.
What is the median home price in Washington County, Alabama?
The median home price in Washington County, Alabama is $127,778, lower than the Alabama average of $158,589.
What is the average home price in Washington 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 Washington County, Alabama?
The median gross rent in Washington County, Alabama is $627 per month, lower than the Alabama average of $962.
What was the median gross rent in Washington County in 2020?
In 2020, the median gross rent in Washington County, Alabama was $742 per month.
What is the price-to-rent ratio in Washington County, Alabama?
The price-to-rent ratio in Washington County, Alabama is about 17.0, meaning it would take roughly 17.0 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 Washington County.
Are home prices or rent rising faster in Washington County, Alabama?
Both home prices and rent are rising in Washington County, up about 49.0% and 0.5% a year respectively. Home prices are changing faster.
What is the homeownership rate in Washington County, Alabama?
62.7% of households in Washington County, Alabama own their home, higher than the Alabama average of 59.5%.
What is the vacancy rate in Washington County, Alabama?
The housing vacancy rate in Washington County, Alabama is 27.0%, higher than the Alabama average of 15.0%.