Florala, Alabama Real Estate & Housing Market

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Florala Housing Information

Index	Florala	Alabama	National
Median home price	$69,000	$128,500	$184,700
Median rent asked	$423	$728	$949
Avg. people per household	2.3	2.5	2.6
Owner occupied households	70.6%	68.5%	63.6%
Renter occupied households	29.4%	31.5%	36.4%

Above, you will see a summary of real estate in Florala, AL. On average, homes in Florala, AL cost $69,000, a value that is 46% lower than the average in Alabama. In general terms, this results in Florala, AL real estate being more affordable than Alabama real estate. On average, people who rent houses in Florala, AL pay $423; this value is 42% lower than the average amount renters pay in Alabama. 70.6% of Florala, AL residents own their own homes and, on average, each of the homes has 2.3 occupants. Florala, AL real estate features a range of homes, which include everthing from large houses to small condos to stacked townhomes. Accessing real estate listings and homes that are up for sale in Florala, AL is easy because in our search area shown above, we categorize real estate and homes based on location, price, and the number of bedrooms and bathrooms.

Florala Home Affordability

It’s advisable to look at home affordability when trying to find the ideal place to find real estate in Florala, AL. To estimate home affordability, one method is to use the ratio of home price to median household income. The Florala, AL’s median home price stands at $69,000 while $26,017 is the value of the average household income. The resulting home price to income ratio, which is 2.7x, differs from the Alabama average as the ratio is 8% lower than the state’s average. The average home price divided by the median home income results in the home affordability ratio. Considering the comparison between the home price and home income, homes in Florala, AL are considered less expensive if the ratio of home price to income is lower. Besides the home price to median household income ratio, other considerable factors do apply in determining home affordability. Using the home affordability calculator displayed below can help determine the exact price that suits any budget when searching for real estate in Florala, AL.

Nearby cities with low home prices

City, State	Population	Home Price	National Avg.
Lockhart, AL	412	$64,000	65%
Onycha, AL	182	$68,800	63%
Kinston, AL	664	$79,300	57%
Horn Hill, AL	279	$88,000	52%
Laurel Hill, FL	626	$92,200	50%
Florala, AL	1,912	$69,000	63%

Cities with similar population

City, State	Population	Home Price	National Avg.
Arkoma, OK	1,912	$67,100	64%
Pine Valley, CA	1,912	$366,400	98%
Lakesite, TN	1,911	$198,300	7%
Graysville, AL	1,911	$79,900	57%
Wilmerding, PA	1,911	$50,800	72%
Florala, AL	1,912	$69,000	63%

Source: The Florala, AL housing data displayed above is derived from the 2016 United States Census Bureau American Community Survey (ACS).