Selmont-West Selmont, Alabama Real Estate & Housing Market

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Selmont-West Selmont Housing Information

Index	Selmont-West Selmont	Alabama	National
Median home price	$58,800	$128,500	$184,700
Median rent asked	$695	$728	$949
Avg. people per household	2.9	2.5	2.6
Owner occupied households	56.4%	68.5%	63.6%
Renter occupied households	43.6%	31.5%	36.4%

Above, you will see a summary of real estate in Selmont-West Selmont, AL. On average, homes in Selmont-West Selmont, AL cost $58,800, a value that is 54% lower than the average in Alabama. In general terms, this results in Selmont-West Selmont, AL real estate being more affordable than Alabama real estate. On average, people who rent houses in Selmont-West Selmont, AL pay $695; this value is 5% lower than the average amount renters pay in Alabama. 56.4% of Selmont-West Selmont, AL residents own their own homes and, on average, each of the homes has 2.9 occupants. Selmont-West Selmont, 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 Selmont-West Selmont, 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.

Selmont-West Selmont Home Affordability

It’s advisable to look at home affordability when trying to find the ideal place to find real estate in Selmont-West Selmont, AL. To estimate home affordability, one method is to use the ratio of home price to median household income. The Selmont-West Selmont, AL’s median home price stands at $58,800 while $28,689 is the value of the average household income. The resulting home price to income ratio, which is 2.0x, differs from the Alabama average as the ratio is 29% 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 Selmont-West Selmont, 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 Selmont-West Selmont, AL.

Nearby cities with low home prices

City, State	Population	Home Price	National Avg.
Orrville, AL	144	$72,500	61%
Selma, AL	19,650	$90,400	51%
Valley Grande, AL	3,855	$120,300	35%
Benton, AL	32	$258,300	40%
Selmont-West Selmont, AL	2,335	$58,800	68%

Cities with similar population

City, State	Population	Home Price	National Avg.
East Jordan, MI	2,335	$71,600	61%
Kure Beach, NC	2,335	$378,600	105%
Inez, TX	2,335	$198,300	7%
Matamoras, PA	2,336	$174,600	5%
Cumberland, WI	2,336	$123,200	33%
Selmont-West Selmont, AL	2,335	$58,800	68%

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