Cheapest Cities to Rent in Alabama
If you’re planning to move to Alabama, relocating within the state, or considering an investment in real estate, you’ll find our list of the most affordable cities to rent in Alabama valuable. This guide will help you navigate the diverse rental market in the Yellowhammer State.
Alabama is well-regarded for its four-season climate, picturesque landscapes, and rich history. According to US News, it has a growing economy and ranks respectably in higher education nationwide. Given these benefits, it’s easy to see why Alabama is a favored destination for many.
The state’s rental market reflects its size and diversity. Over recent years, Alabama has seen a steady increase in population, largely due to its lower cost of living, vibrant city cultures, and potential employment opportunities.
While the demand for affordable rentals is high, not all cities in Alabama can be classified as cheap. However, there are areas where the average rent is notably lower than in the rest of the state. Continue reading to discover which cities offer the best rental deals in Alabama.
Alabama Rental Statistics
Before we dive into the most affordable cities to rent in Alabama, let’s look at a few general rental facts and statistics:
- The average rent in Alabama is $800 per month, compared to $2,016 nationwide
- Across the U.S., rental rates have increased by 31% in the past ten years
- Approximately 109 million Americans reside in rental housing
- The state with the highest number of rental units is California
- About 26.20% of households in Alabama rent their homes
It’s clear that Alabama is a more affordable living option than the national average and presents attractive opportunities for renters and real estate investors alike.
Renting can offer flexibility and freedom from the costs and responsibilities of home ownership, making it a preferred option for many. It allows individuals and families to adjust their living arrangements based on changes in their lifestyle, job location, or financial situation.
For those new to Alabama or relocating within the state, renting can be an excellent way to explore different cities and neighborhoods before committing to a permanent residence.
From an investment perspective, the strong demand for rental housing, coupled with below-average rental rates, positions Alabama as a promising market. Real estate investors can potentially reap significant returns by providing affordable housing options to the sizable percentage of Alabamians who prefer to rent.
Cheapest Cities to Rent in Alabama
This list of the most affordable cities to rent in Alabama does not just focus on rental prices alone. We’re taking a comprehensive approach, examining various factors contributing to the overall cost of living and quality of life in each city. This includes:
- Population: The size of the city’s population can impact the availability and pricing of rental properties.
- Median Home Listing Price: This gives us a sense of the overall real estate market in the city.
- Average Number of Days on the Market: This helps us understand how quickly properties are rented or sold.
- Median Household Income: This figure offers a glimpse into the earning potential in the area.
- Average Rent Price: Most crucial to our analysis, this tells us the typical cost of renting in the city.
Whether you’re a potential renter seeking the most value for your money or an investor scouting for high-return opportunities, our analysis will provide the insights you need to explore these affordable Alabama rental markets.
Here are the top ten cheapest cities to rent in Alabama, let’s dive in!
- Population: 28,777
- Median home listing price: $358,000
- Average number of days on the market: 36 days
- Median household income: $74,701
- Average rent price: $994
Daphne, known as “The Jubilee City,” is a charming town nestled on the eastern shoreline of Mobile Bay. The city offers residents a suburban feel with plenty of parks and recreational activities. It’s an ideal spot for those who appreciate coastal living without the high price tag.
With an average rent price of $994, Daphne’s residents enjoy a higher than average household income, making it an attractive location for renters and real estate investors alike. Its community spirit and good school system further add to its appeal, providing a well-rounded living experience.
- Population: 17,414
- Median home listing price: $270,800
- Average number of days on the market: 24 days
- Median household income: $70,504
- Average rent price: $1,092
Calera is a city rich in history and community spirit. It’s known for its railroad past, celebrated today by the Heart of Dixie Railroad Museum.
The city is known for its quality education and family-oriented amenities. With an average rent of $1,092, it offers a healthy mix of economic opportunity and community connection.
This balance makes Calera a top choice for those seeking affordability without sacrificing the comforts of a tight-knit community.
3. Smiths Station
- Population: 5,381
- Median home listing price: $339,000
- Average number of days on the market: 28 days
- Median household income: $53,096
- Average rent price: $1,099
Smiths Station is a quaint city in Lee County with a lot to offer. Despite its small size, it is one of the fastest-growing areas in Alabama, popular for its excellent schools, low crime rates, and welcoming community.
The city’s affordability, marked by an average rent of $1,099, coupled with a relaxed pace of life, makes Smiths Station an appealing choice for families and individuals seeking a quieter, more serene lifestyle.
4. Phenix City
- Population: 38,428
- Median home listing price: $224,900
- Average number of days on the market: 23 days
- Median household income: $41,842
- Average rent price: $1,101
Phenix City is a vibrant city that prides itself on its history, charm, and southern hospitality. With its beautiful views of the Chattahoochee River, it offers an abundance of outdoor activities.
The city’s affordable rent and rich culture and history make it an attractive place to live and work. Despite its growing population, Phenix City maintains a small-town charm that appeals to families and young professionals.
5. Gulf Shores
- Population: 15,736
- Median home listing price: $519,000
- Average number of days on the market: 58 days
- Median household income: $53,048
- Average rent price: $1,119
Located on Alabama’s southern tip, Gulf Shores is a coastal city known for its breathtaking beaches and robust tourism industry. Its residents enjoy a quality of life that includes outdoor adventures, community festivals, and excellent seafood.
Despite its resort-town reputation, Gulf Shores remains affordable for many, with an average rent of $1,119. This beach city is ideal for those seeking a blend of laid-back coastal living and vibrant cultural experiences.
- Population: 92,589
- Median home listing price: $449,900
- Average number of days on the market: 26 days
- Median household income: $95,970
- Average rent price: $1,152
As one of Alabama’s largest cities, Hoover is a thriving metropolis that boasts a blend of suburban comfort and city amenities.
Its proximity to Birmingham provides easy access to a bustling urban center while maintaining a quieter, family-friendly atmosphere at home. With a diverse range of neighborhoods, excellent school system, and wealth of shopping and dining options, Hoover has an average rent of $1,152.
The city is a beacon for those who want the best of both worlds – urban convenience and suburban peace.
- Population: 197,575
- Median home listing price: $165,000
- Average number of days on the market: 42 days
- Median household income: $32,404
- Average rent price: $1,226
Birmingham, Alabama’s largest city, is a historical and cultural center with a rich industrial past. It is a city of diversity, with a wide variety of arts, entertainment, and culinary offerings.
The city’s affordability, reflected in an average rent price of $1,226, makes it an attractive option for many residents.
Despite its urban environment, Birmingham offers a number of scenic parks and outdoor venues that provide a respite from the city’s bustling activity.
- Population: 26,054
- Median home listing price: $520,000
- Average number of days on the market: 26 days
- Median household income: $84,418
- Average rent price: $1,301
Homewood is a lively and walkable city just south of Birmingham. It’s recognized for its charm, friendly atmosphere, and top-notch schools.
The city combines suburban tranquility with access to urban amenities, thanks to its proximity to Alabama’s largest city.
With a host of shops, restaurants, parks, and community events, Homewood, at an average rent of $1,301, offers a high quality of life that appeals to families and young professionals alike.
- Population: 58,357
- Median home listing price: $489,300
- Average number of days on the market: 37 days
- Median household income: $105,335
- Average rent price: $1,325
Madison, located in the heart of the Tennessee Valley, is known for its high-tech industries, highly ranked schools, and robust economy.
With its array of parks, family-friendly amenities, and community events, Madison offers a rich and fulfilling lifestyle.
At an average rent price of $1,325, it offers residents an affordable cost of living alongside a wealth of opportunities.
10. Pell City
- Population: 13,248
- Median home listing price: $299,000
- Average number of days on the market: 59 days
- Median household income: $58,036
- Average rent price: $1,362
Pell City, seated in St. Clair County, is a small city that offers a relaxed and peaceful lifestyle. The city is known for its beautiful landscapes, including Logan Martin Lake – a popular spot for fishing and boating.
Its tight-knit community, affordable housing, and lower cost of living, reflected in an average rent price of $1,362, make it a charming and economical choice for many residents.
Which city in Alabama is calling you? Each of these ten cities, from the charming coastal town of Daphne to the scenic tranquility of Pell City, offers its own unique mix of affordability, community, and opportunities.
All of these cities draw in new residents thanks to their reasonable rent, promising employment prospects, commendable public schools, and accessibility to a wide array of attractions. Many individuals are on the hunt for communities that not only offer affordable rent prices, but also have a flourishing economy.
Cities like Hoover, Birmingham, Homewood, and Madison demonstrate some of the finest aspects Alabama has to offer without the hefty price tags!
Ready to Rent in One of the Cheapest Cities in Alabama?
If you’d like to explore these communities further and see if investing in property in one of these cities is right for you, we invite you to reach out to FastExpert.com. As a company that connects people buying or selling a home with top real estate agents, we can match you with the perfect real estate agent who understands your motivation for investing in Alabama.
We make it easy for you to hire the right real estate agent, and we provide convenient options to easily compare top agents to simplify your selection. Give us a try and discover why over 400,000 happy clients choose FastExpert!