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 | Wilcox County | Alabama Avg | US Average |
|---|---|---|---|
| Median Home Price | $108,750 | $158,589 | $242,182 |
| Price Trend (Annual %) | -0.9% | 7.1% | 8.2% |
| Median Gross Rent | $698 | $962 | $1,342 |
| Rent Trend (Annual %) | 6.9% | 4.1% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Wilcox County is about 31% lower than in Alabama. Rent is about 28% lower than the Alabama average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2023
Median Rent Prices, 2015-2023
Home prices and rent are moving in opposite directions in Wilcox County: home prices fell about 0.9% a year while rent rose about 6.9% a year. That is an unusual pattern worth watching.
Median rent in Wilcox County rose about 64.8% between 2015 and 2023, from $423 to $698. Over the same span, rent in Alabama rose about 34.2%.
Affordability
On average, housing unit costs 2.6 yearly household incomes in Wilcox County.
Buying the median-priced home in Wilcox County costs roughly 13.0 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 Wilcox County. The price-to-rent ratio in Alabama is about 13.7.
| Metric | Wilcox County | Alabama Avg | US Average |
|---|---|---|---|
| Median Home Price | $108,750 | $158,589 | $242,182 |
| Median Household Income | $41,296 | $62,318 | $78,145 |
| Price-to-Income Ratio | 2.6 | 2.5 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Wilcox County fell about 17.9%, while median household income rose about 71.1% between 2009 and 2023 — 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 | Wilcox County | Alabama Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 54.1% | 59.5% | 58.2% |
| Rental Rate | 15.4% | 25.6% | 31.3% |
| Vacancy Rate | 30.5% | 15.0% | 10.6% |
| Median Tenure (years) | 22.0 | 16.0 | 15.0 |
| Median Year Moved In | 2004 | 2010 | 2011 |
Wilcox County has a homeownership rate of 54.1%, lower than the Alabama average of 59.5%. Its housing vacancy rate is 30.5%, compared with 15.0% in Alabama.
Housing Stock
| Metric | Wilcox County | Alabama Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.75 people | 2.50 people | 2.54 people |
| Median Structure Built Year | 1984 | 1985 | 1978 |
| Median Number of Rooms | 5.5 | 5.8 | 5.5 |
The typical housing unit in Wilcox County was built around 1984. On average, 2.8 people live in a home with about 5.5 rooms, staying for about 22.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Wilcox County, Alabama.
What is the median home price in Wilcox County, Alabama?
The median home price in Wilcox County, Alabama is $108,750, lower than the Alabama average of $158,589.
What is the average home price in Wilcox 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 Wilcox County, Alabama?
The median gross rent in Wilcox County, Alabama is $698 per month, lower than the Alabama average of $962.
What was the median gross rent in Wilcox County in 2020?
In 2020, the median gross rent in Wilcox County, Alabama was $676 per month.
What is the price-to-rent ratio in Wilcox County, Alabama?
The price-to-rent ratio in Wilcox County, Alabama is about 13.0, meaning it would take roughly 13.0 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 Wilcox County.
Are home prices or rent rising faster in Wilcox County, Alabama?
Home prices and rent are moving in opposite directions in Wilcox County: home prices fell about 0.9% a year while rent rose about 6.9% a year. That is an unusual pattern worth watching.
What is the homeownership rate in Wilcox County, Alabama?
54.1% of households in Wilcox County, Alabama own their home, lower than the Alabama average of 59.5%.
What is the vacancy rate in Wilcox County, Alabama?
The housing vacancy rate in Wilcox County, Alabama is 30.5%, higher than the Alabama average of 15.0%.