Hanceville Housing Information
| Index | Hanceville | Alabama | National |
| Median home price | $89,800 | $128,500 | $184,700 |
| Median rent asked | $649 | $728 | $949 |
| Avg. people per household | 2.6 | 2.5 | 2.6 |
| Owner occupied households | 57.1% | 68.5% | 63.6% |
| Renter occupied households | 42.9% | 31.5% | 36.4% |
Hanceville Home Affordability
Home affordability can be a very important factor when determining where to purchase real estate in Hanceville, AL. One method that can be used to calculate home affordability is the home price to median household income ratio. The median home price in Hanceville, AL is $89,800 and the median household income is $32,381. This results in a home price to income ratio of 2.8x, which is 3% lower than the Alabama average. The home affordability ratio is calculated by dividing the median home price by the median home income. A lower than average home price to income ratio means that homes in Hanceville, AL are more affordable based on the median price of homes compared to home income. Of course, there are many other factors to consider when focusing on home affordability. Use the home affordability calculator below to see exactly how much you can afford to pay for real estate in Hanceville, AL.Nearby cities with low home prices
| City, State | Population | Home Price | National Avg. |
| Colony, AL | 339 | $78,600 | 57% |
| Allgood, AL | 663 | $80,000 | 57% |
| Garden City, AL | 461 | $81,800 | 56% |
| West Point, AL | 691 | $92,000 | 50% |
| Good Hope, AL | 2,499 | $97,200 | 47% |
| Hanceville, AL | 3,223 | $89,800 | 51% |
Cities with similar population
| City, State | Population | Home Price | National Avg. |
| Tarpey Village, CA | 3,223 | $181,900 | 2% |
| Ellsworth, WI | 3,222 | $159,500 | 14% |
| Goffstown, NH | 3,225 | $227,900 | 23% |
| Cleveland, OK | 3,221 | $82,600 | 55% |
| Orchidlands Estates, HI | 3,221 | $227,300 | 23% |
| Hanceville, AL | 3,223 | $89,800 | 51% |