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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 January 2023. The typical home value in the United States increased over the last year by +6.2% to $329,542. All 12 cities and towns with data available were included in the list.

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Stacker

#12. Leighton, AL

– 1-year price change: $-890 (-0.8%)
– 5-year price change: +$39,359 (+50.6%)
– Typical home value: $117,156 (#10 most expensive city in metro)

Stacker

#11. Cherokee, AL

– 1-year price change: +$1,490 (+1.3%)
– 5-year price change: +$27,970 (+33.2%)
– Typical home value: $112,304 (#11 most expensive city in metro)

Stacker

#10. Tuscumbia, AL

– 1-year price change: +$6,111 (+4.1%)
– 5-year price change: +$52,466 (+51.1%)
– Typical home value: $155,184 (#8 most expensive city in metro)

Stacker

#9. Sheffield, AL

– 1-year price change: +$6,813 (+7.5%)
– 5-year price change: +$37,872 (+63.3%)
– Typical home value: $97,681 (#12 most expensive city in metro)

Stacker

#8. Waterloo, AL

– 1-year price change: +$9,178 (+6.2%)
– 5-year price change: +$56,503 (+55.8%)
– Typical home value: $157,675 (#7 most expensive city in metro)

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Stacker

#7. Russellville, AL

– 1-year price change: +$13,332 (+10.8%)
– 5-year price change: +$49,081 (+56.0%)
– Typical home value: $136,695 (#9 most expensive city in metro)

Stacker

#6. Lexington, AL

– 1-year price change: +$15,994 (+9.4%)
– 5-year price change: +$72,277 (+63.1%)
– Typical home value: $186,741 (#5 most expensive city in metro)

Stacker

#5. Florence, AL

– 1-year price change: +$16,163 (+10.2%)
– 5-year price change: +$62,820 (+55.9%)
– Typical home value: $175,170 (#6 most expensive city in metro)

Stacker

#4. Muscle Shoals, AL

– 1-year price change: +$16,300 (+8.2%)
– 5-year price change: +$68,727 (+47.1%)
– Typical home value: $214,653 (#3 most expensive city in metro)

Stacker

#3. Anderson, AL

– 1-year price change: +$20,417 (+11.1%)
– 5-year price change: +$83,345 (+69.1%)
– Typical home value: $203,998 (#4 most expensive city in metro)

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Stacker

#2. Rogersville, AL

– 1-year price change: +$29,108 (+15.3%)
– 5-year price change: +$90,312 (+70.0%)
– Typical home value: $219,410 (#2 most expensive city in metro)

Stacker

#1. Killen, AL

– 1-year price change: +$30,590 (+14.3%)
– 5-year price change: +$92,750 (+61.2%)
– Typical home value: $244,284 (#1 most expensive city in metro)