Hanceville, Alabama Real Estate & Housing Market

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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%

A general overview of the Hanceville, AL real estate market is displayed above. The median home price for homes in Hanceville, AL is $89,800, which is 30% lower than the Alabama average. This means that real estate in the Hanceville, AL area is generally more affordable than the rest of Alabama. The median rent price in Hanceville, AL is $649 which is 11% lower than the Alabama average. In Hanceville, AL, 57.1% of people are home owners and an average of 2.6 people occupy each home. From luxury houses to affordable condos to urban townhomes, there are many different types of real estate in Hanceville, AL. We make it easy to find Hanceville, AL real estate listings and homes for sale by filtering location, price, bedrooms and bathrooms in the search area above.

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%
Cleveland, OK	3,221	$82,600	55%
Orchidlands Estates, HI	3,221	$227,300	23%
Port Washington North, NY	3,225	$771,300	318%
Hanceville, AL	3,223	$89,800	51%

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