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Cities with the fastest growing home prices in Florence metro area

It goes without saying that the coronavirus pandemic has sparked a wave of uncertainty across myriad industries, and no other market has quite felt its impact like that of real estate.

The pandemic has become a driving force behind the continued real estate boom, with high demand for vacation homes and a limited supply of housing that has prompted buyers and investors to bid up prices for affordable properties, causing home prices to skyrocket. The ability to work remotely played a role in the vacation home demand in mid-2020, as affluent Americans opted to ride out the pandemic with more amenities and space outside dense urban areas.

Stacker compiled a list of cities with the fastest-growing home prices in Florence-Muscle Shoals, AL metro area using data from Zillow. Cities are ranked by 1-year price change as of December 2022. The typical home value in the United States increased over the last year by +8.4%% to $356,819. All 14 cities and towns with data available were included in the list.

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Stacker

#14. Sheffield, AL

– 1-year price change: +$13,506 (+16.7%)
– 5-year price change: +$30,548 (+48.0%)
– Typical home value: $94,141 (#14 most expensive city in metro)

Stacker

#13. Waterloo, AL

– 1-year price change: +$14,109 (+10.9%)
– 5-year price change: +$55,826 (+63.5%)
– Typical home value: $143,760 (#9 most expensive city in metro)

Stacker

#12. Cherokee, AL

– 1-year price change: +$15,925 (+16.9%)
– 5-year price change: +$31,446 (+39.9%)
– Typical home value: $110,294 (#13 most expensive city in metro)

Stacker

#11. Russellville, AL

– 1-year price change: +$15,985 (+14.2%)
– 5-year price change: +$39,002 (+43.5%)
– Typical home value: $128,579 (#10 most expensive city in metro)

Stacker

#10. Leighton, AL

– 1-year price change: +$16,259 (+15.2%)
– 5-year price change: +$39,002 (data not available)
– Typical home value: $122,898 (#11 most expensive city in metro)

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Stacker

#9. Littleville, AL

– 1-year price change: +$16,508 (+16.8%)
– 5-year price change: +$39,002 (data not available)
– Typical home value: $114,843 (#12 most expensive city in metro)

Stacker

#8. Florence, AL

– 1-year price change: +$20,866 (+13.2%)
– 5-year price change: +$69,049 (+62.7%)
– Typical home value: $179,202 (#7 most expensive city in metro)

Stacker

#7. Lexington, AL

– 1-year price change: +$20,992 (+13.1%)
– 5-year price change: +$69,116 (+61.4%)
– Typical home value: $181,668 (#6 most expensive city in metro)

Stacker

#6. Tuscumbia, AL

– 1-year price change: +$21,284 (+15.4%)
– 5-year price change: +$51,470 (+47.7%)
– Typical home value: $159,320 (#8 most expensive city in metro)

Stacker

#5. Rogersville, AL

– 1-year price change: +$24,966 (+14.3%)
– 5-year price change: +$74,631 (+59.7%)
– Typical home value: $199,715 (#5 most expensive city in metro)

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Stacker

#4. Killen, AL

– 1-year price change: +$27,588 (+13.0%)
– 5-year price change: +$89,294 (+59.2%)
– Typical home value: $240,137 (#2 most expensive city in metro)

Stacker

#3. Muscle Shoals, AL

– 1-year price change: +$29,256 (+15.4%)
– 5-year price change: +$70,814 (+47.8%)
– Typical home value: $219,101 (#3 most expensive city in metro)

Stacker

#2. Anderson, AL

– 1-year price change: +$32,813 (+19.2%)
– 5-year price change: +$80,253 (+65.1%)
– Typical home value: $203,589 (#4 most expensive city in metro)

Stacker

#1. Saint Florian, AL

– 1-year price change: +$44,870 (+14.4%)
– 5-year price change: +$134,693 (+60.6%)
– Typical home value: $356,916 (#1 most expensive city in metro)