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Counties with the lowest home prices in Alabama

The real estate market is booming right now thanks to low interest rates, a flood of millennial buyers, and shrinking inventory. The median cost of a home has increased 20% year over year, hitting $347,500, according to a report released in April 2020 by real estate listing website Redfin. These high asking costs—while good for sellers—are pricing many buyers out of the market entirely.

But all things are not equal when it comes to real estate in the United States.

Credible used 2021 data calculated by the National Association of REALTORS to compile a list of counties with the lowest median home values and monthly mortgage payments in Alabama. Counties were ranked by the monthly mortgage payment for a typical home in 2020, from lowest to highest. Ties were broken by median home values in 2020.

The National Association of REALTORS calculated the fourth quarter 2020 median home values by applying the Federal Housing Finance Agency’s House Price Index growth to 2019 housing and population data from the American Community Survey and determining an estimate of 2020 median home values for all counties where data is available. The monthly mortgage payments for fourth quarter 2019 and fourth quarter 2020 were calculated for a 30-year fixed-rate mortgage with a 10% down payment.

Keep reading to discover which county in Alabama has the lowest home prices.

Carol M. Highsmith // Wikimedia Commons

#30. Monroe County

– Monthly mortgage payment in 2020: $398 (14.4% less than 2019)
– Monthly mortgage payment in 2019: $465
– Median home value in 2020: $107,400
– Ranked #893 out of 3,120 counties nationwide

Wmr36104 // Wikimedia Commons

#29. Geneva County

– Monthly mortgage payment in 2020: $389 (5.1% less than 2019)
– Monthly mortgage payment in 2019: $410
– Median home value in 2020: $105,000
– Ranked #825 out of 3,120 counties nationwide

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#28. Escambia County

– Monthly mortgage payment in 2020: $387 (12.6% less than 2019)
– Monthly mortgage payment in 2019: $443
– Median home value in 2020: $104,400
– Ranked #813 out of 3,120 counties nationwide

Chris Pruitt // Wikimedia Commons

#27. Covington County

– Monthly mortgage payment in 2020: $380 (11.8% less than 2019)
– Monthly mortgage payment in 2019: $431
– Median home value in 2020: $102,500
– Ranked #765 out of 3,120 counties nationwide

Rivers Langley; SaveRivers // Wikimedia Commons

#26. Chambers County

– Monthly mortgage payment in 2020: $378 (5.3% less than 2019)
– Monthly mortgage payment in 2019: $399
– Median home value in 2020: $102,000
– Ranked #748 out of 3,120 counties nationwide

Rivers A. Langley; SaveRivers // Wikimedia Commons

#25. Randolph County

– Monthly mortgage payment in 2020: $374 (6.5% less than 2019)
– Monthly mortgage payment in 2019: $400
– Median home value in 2020: $100,900
– Ranked #727 out of 3,120 counties nationwide

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#24. Pickens County

– Monthly mortgage payment in 2020: $373 (15.2% less than 2019)
– Monthly mortgage payment in 2019: $440
– Median home value in 2020: $100,800
– Ranked #723 out of 3,120 counties nationwide

Chris Pruitt // Wikimedia Commons

#23. Butler County

– Monthly mortgage payment in 2020: $373 (6.3% less than 2019)
– Monthly mortgage payment in 2019: $398
– Median home value in 2020: $100,700
– Ranked #718 out of 3,120 counties nationwide

Rudi Weikard // Wikimedia Commons

#22. Franklin County

– Monthly mortgage payment in 2020: $370 (6.6% less than 2019)
– Monthly mortgage payment in 2019: $396
– Median home value in 2020: $99,800
– Ranked #698 out of 3,120 counties nationwide

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#21. Bibb County

– Monthly mortgage payment in 2020: $365 (14.1% less than 2019)
– Monthly mortgage payment in 2019: $425
– Median home value in 2020: $98,400
– Ranked #668 out of 3,120 counties nationwide

Rudi Weikard // Wikimedia Commons

#20. Marion County

– Monthly mortgage payment in 2020: $361 (7.4% less than 2019)
– Monthly mortgage payment in 2019: $390
– Median home value in 2020: $97,500
– Ranked #649 out of 3,120 counties nationwide

Carol M. Highsmith // Wikimedia Commons

#19. Hale County

– Monthly mortgage payment in 2020: $355 (11.7% less than 2019)
– Monthly mortgage payment in 2019: $402
– Median home value in 2020: $95,900
– Ranked #615 out of 3,120 counties nationwide

Rivers Langley; SaveRivers // Wikimedia Commons

#18. Barbour County

– Monthly mortgage payment in 2020: $353 (15.8% less than 2019)
– Monthly mortgage payment in 2019: $419
– Median home value in 2020: $95,300
– Ranked #600 out of 3,120 counties nationwide

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#17. Washington County

– Monthly mortgage payment in 2020: $347 (9.6% less than 2019)
– Monthly mortgage payment in 2019: $384
– Median home value in 2020: $93,600
– Ranked #555 out of 3,120 counties nationwide

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#16. Fayette County

– Monthly mortgage payment in 2020: $344 (9.0% less than 2019)
– Monthly mortgage payment in 2019: $378
– Median home value in 2020: $93,000
– Ranked #536 out of 3,120 counties nationwide

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#15. Winston County

– Monthly mortgage payment in 2020: $335 (15.4% less than 2019)
– Monthly mortgage payment in 2019: $396
– Median home value in 2020: $90,400
– Ranked #466 out of 3,120 counties nationwide

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#14. Marengo County

– Monthly mortgage payment in 2020: $328 (19.2% less than 2019)
– Monthly mortgage payment in 2019: $406
– Median home value in 2020: $88,700
– Ranked #419 out of 3,120 counties nationwide

Rivers A. Langley; SaveRivers // Wikimedia Commons

#13. Coosa County

– Monthly mortgage payment in 2020: $327 (17.6% less than 2019)
– Monthly mortgage payment in 2019: $397
– Median home value in 2020: $88,200
– Ranked #405 out of 3,120 counties nationwide

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#12. Dallas County

– Monthly mortgage payment in 2020: $324 (13.1% less than 2019)
– Monthly mortgage payment in 2019: $373
– Median home value in 2020: $87,500
– Ranked #394 out of 3,120 counties nationwide

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#11. Greene County

– Monthly mortgage payment in 2020: $320 (11.1% greater than 2019)
– Monthly mortgage payment in 2019: $288
– Median home value in 2020: $86,300
– Ranked #361 out of 3,120 counties nationwide

Chris Pruitt // Wikimedia Commons

#10. Conecuh County

– Monthly mortgage payment in 2020: $315 (9.0% less than 2019)
– Monthly mortgage payment in 2019: $346
– Median home value in 2020: $85,100
– Ranked #323 out of 3,120 counties nationwide

Rivers Langley; SaveRivers // Wikimedia Commons

#9. Crenshaw County

– Monthly mortgage payment in 2020: $315 (12.3% less than 2019)
– Monthly mortgage payment in 2019: $359
– Median home value in 2020: $85,100
– Ranked #324 out of 3,120 counties nationwide

Myself – Nathon Morris // Wikimedia Commons

#8. Lamar County

– Monthly mortgage payment in 2020: $315 (9.5% less than 2019)
– Monthly mortgage payment in 2019: $348
– Median home value in 2020: $85,000
– Ranked #320 out of 3,120 counties nationwide

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#7. Macon County

– Monthly mortgage payment in 2020: $314 (12.5% less than 2019)
– Monthly mortgage payment in 2019: $359
– Median home value in 2020: $84,900
– Ranked #315 out of 3,120 counties nationwide

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#6. Wilcox County

– Monthly mortgage payment in 2020: $309 (16.7% less than 2019)
– Monthly mortgage payment in 2019: $371
– Median home value in 2020: $83,400
– Ranked #285 out of 3,120 counties nationwide

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#5. Sumter County

– Monthly mortgage payment in 2020: $289 (14.2% less than 2019)
– Monthly mortgage payment in 2019: $337
– Median home value in 2020: $78,200
– Ranked #188 out of 3,120 counties nationwide

RuralSWAlabama (Billy Milstead) // Wikimedia Commons

#4. Choctaw County

– Monthly mortgage payment in 2020: $288 (15.0% less than 2019)
– Monthly mortgage payment in 2019: $339
– Median home value in 2020: $77,800
– Ranked #184 out of 3,120 counties nationwide

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#3. Bullock County

– Monthly mortgage payment in 2020: $273 (22.0% less than 2019)
– Monthly mortgage payment in 2019: $350
– Median home value in 2020: $73,800
– Ranked #135 out of 3,120 counties nationwide

Altairisfar // Wikimedia Commons

#2. Lowndes County

– Monthly mortgage payment in 2020: $271 (5.9% less than 2019)
– Monthly mortgage payment in 2019: $288
– Median home value in 2020: $73,300
– Ranked #128 out of 3,120 counties nationwide

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#1. Perry County

– Monthly mortgage payment in 2020: $253 (14.8% less than 2019)
– Monthly mortgage payment in 2019: $297
– Median home value in 2020: $68,300
– Ranked #76 out of 3,120 counties nationwide