Most Expensive Places to Live in Alabama: When it comes to locating a place that they can call home, people have very different priorities and requirements.
However, if there is one thing on which the vast majority of people can agree, it is that their ideal home would combine a reasonable price with a high level of comfort.
And Alabama is a state that really knows how to deliver when it comes to providing comfort at an affordable price. Before making the move to make the Heart of Dixie their permanent home, many families visit the region and fall in love with its beaches, midlands, and mountains.
So, exactly how much does it cost to make a living in Alabama? The answer to that question is going to change depending on which region of the state you examine. Comparatively speaking, the cost of living in Birmingham is quite a bit lower than the cost of living in Huntsville.
In the same vein, the same can be said for Mobile and Montgomery. Therefore, regardless of how much money you have to spend, you should be able to find a region in Alabama that is ideal for your circumstances.
There are still cities in Alabama that are more expensive than others, despite the fact that the state has a large number of reasonably priced housing options. According to the findings of Numbeo, the following are Alabama’s cities that rank highest in terms of the cost of living.
Most Expensive Cities to Live in Alabama
1. Orange Beach
Median Home Price: $729,000
Cost of Living Index: 112.8
Median Household Income: $81,295
This bustling coastal city is well-known for the luxurious resorts and fine dining establishments that can be found within its borders. And it is easy to see why it is such a popular tourist destination given that it has beaches with white sand and waters that are an emerald green color.
But there is a cost associated with all of this. Orange Beach, Alabama, has a cost of living that is noticeably higher than the average for the rest of Alabama. In point of fact, it is one of the cities in the state that has the highest overall cost of living.
Because of the high cost of real estate, Orange Beach is consistently ranked as one of the most expensive places to live in all of Alabama. It is significantly more expensive to purchase a home in Orange Beach, where the average price is over $729,000, than it is to purchase a home in any of the other regions of Alabama.
Another reason is that the cost of food, gas, and other necessities is higher in Orange Beach than it is in other parts of Alabama. This is true for Orange Beach in comparison to the rest of Alabama.
Orange Beach is another well-known vacation spot, and as a result, the city features a large number of accommodations, dining establishments, and other establishments that cater to tourists.
2. Vestavia Hills
Median Home Price: $512,521
Cost of Living Index: 115.8
Median Household Income: $109,485
In the state of Alabama’s Jefferson County, you will find the city of Vestavia Hills. It is located in the Birmingham metropolitan area and is home to 34,482 people. Vestavia Hills has a high cost of living and is considered to be one of the most expensive cities in which to reside in the state of Alabama.
The high cost of housing and the high tax burden are two factors that contribute to this phenomenon. The median income for a household in Vestavia Hills is $109,485, while the median price of a home in the area is $512,521.
The average rate of property taxation is 2.4%, while the average rate of sales tax is 9%. The cost of living index in Vestavia Hills is 107.3, which is significantly higher than the average of 100 that is found nationwide.
3. Fairhope (Most Expensive Places to Live in Alabama)
Median Home Price: $500,000
Cost of Living Index: 101.3
Median Household Income: $80,106
Baldwin County, Alabama, is home to the city of Fairhope, which is located in the United States. On the shore of Mobile Bay’s eastern arm, you’ll find a well-known destination for vacationers.
The population was counted at 22,035 during the ensuing census in the year 2020. It is the county seat of Baldwin County and the most populous and expensive city there. In addition to this, Fairhope is home to a number of upscale retirement communities.
Because the median price of a home in Fairhope is $500,000, the city of Fairhope is the most expensive place to live in all of Alabama. With a score of 101.3 on the index, the cost of living is also quite high. However, there is a low rate of crime in the city, and the schools are of a high quality.
Median Home Price: $499,500
Cost of Living Index: 112.5
Median Household Income: $84,157
In the state of Alabama’s Jefferson County can be found Homewood. The median price of a home in the city is $499,500, and there are 25,000 people living there.
Homewood is well-known for both the quality of its schools and its proximity to the central business district of Birmingham. Because the city is home to a diverse range of commercial and industrial establishments, it is an attractive location for both living and working.
Homewood is a prosperous city that also has a high standard of living for its residents. Even though the cost of living in Homewood is higher than the national average, residents of the city enjoy a higher standard of living than the majority of people in the United States.
5. Gulf Shores (Most Expensive Places to Live in Alabama)
Median Home Price: $460,000
Cost of Living Index: 98.8
Median Household Income: $53,476
Baldwin County, Alabama is the location of the city known as Gulf Shores. The population was counted at 460 thousand during the year 2020 census.
The Mobile Bay Metropolitan Statistical Area incorporates it as a part of its data. Because it is one of the cities in Alabama with the highest housing costs, Gulf Shores has a high cost of living for its residents.
The city’s proximity to the Gulf of Mexico and its popularity as a tourist destination are both factors that play a role in this situation and contribute to it in various ways.
The median rent in Gulf Shores is $1,795 per month, while the median price of a home in the city is $460,000. These costs are considerably higher than the averages for the state, which come in at $142,000 and $884, respectively.
Median Home Price: $448,900
Cost of Living Index: 103.9
Median Household Income: $92,984
Living costs in Hoover are among the highest of any city in the state of Alabama. In addition to the high cost of living, there are not many job opportunities in the city.
Despite this, Hoover is situated in close proximity to Birmingham, a sizable city that offers a diverse range of employment opportunities. In addition, the city is home to the University of Alabama, which is a sizable educational institution that has a sizable student body.
Hoover is home to a plethora of conveniences, including dining establishments, retail establishments, and entertainment venues. If you have the financial means to do so, Hoover is undeniably a wonderful location in which to make your home.
7. Trussville (Most Expensive Places to Live in Alabama)
Median Home Price: $402,000
Cost of Living Index: 101.4
Median Household Income: $97,226
The average cost of living in Trussville is lower than the national average, and the city has a strong sense of community. In addition to a plethora of restaurants and retail establishments, Trussville is home to its very own independent school district.
The close proximity of Trussville to Birmingham is largely responsible for the high cost of living there. Because Trussville is located in a suburb of Birmingham, it is subject to a number of the influences that are associated with being located in close proximity to a major metropolitan area.
This results in increased costs for housing in addition to other goods and services. Since the cost of housing in Trussville is on the rise, it is possible that not everyone will find it to be the most affordable option.
8. Pike Road
Median Home Price: $367,773
Cost of Living Index: 102.7
Median Household Income: $100,865
This town is known for having welcoming people and a laid-back atmosphere, and it can be found in the southern part of Alabama.
However, just because the cost of living in this city is lower in comparison to the cost of living in some of the other, more expensive cities in the state does not mean that you have to compromise on the quality of your life.
Pike Road is a fantastic neighborhood to settle down in because it offers residents access to a wide variety of leisure opportunities and conveniences.
Pike Road has a number of advantages that contribute to its high cost of living. These advantages include the town’s close proximity to Montgomery, its robust economy, and its low rate of violent crime.
Pike Road is home to some of the most expensive real estate in Alabama, which contributes to an increase in the general cost of living for the neighborhood’s inhabitants.
9. Auburn (Most Expensive Places to Live in Alabama)
Median Home Price: $360,000
Cost of Living Index: 102.0
Median Household Income: $49,028
Auburn is a city in the state of Alabama that is well-known for both its educational institutions and its collegiate football program. The cost of living in Auburn is one of the highest it is in the state because Auburn is one of the most expensive cities to live in.
This is due to a number of factors, including the price of housing and the price of utilities, to name just two of those factors.
As a result of Auburn’s location in a relatively rural area, it may be challenging to locate reasonably priced options for purchasing food and other necessities in the city.
In general, Auburn is a wonderful place to live; however, prospective residents should be aware that the cost of living in the area is relatively high before making the move.
Median Home Price: $250,000
Cost of Living Index: 87.9
Median Household Income: $45,268
Tuscaloosa is the city in Alabama with the highest overall cost of living. In addition to having a thriving economy, it is the location of the University of Alabama.
Tuscaloosa has a high cost of living, but considering the city’s overall attractiveness, it is money well spent. Tuscaloosa is a city that goes out of its way to make its residents feel welcome, and it also features a wealth of activities and attractions.
Tuscaloosa’s high cost of living can be attributed to a few different factors. To begin, the cost of living is relatively high across the board in Alabama.
The University of Alabama, which is located in Tuscaloosa, contributes to the city’s already high cost of living. The city is home to a large number of businesses and professionals, contributing to its thriving economy.
Because of its appeal as a place to settle down, the cost of housing in Tuscaloosa is relatively high. Tuscaloosa is a wonderful place to call home, despite the fact that the cost of living is relatively high.
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