Cities with the most expensive homes in the Florence metro area

Purchasing a home is one of the most important investments there is. More than a place to live, homeownership is an asset with the potential to tremendously rise in value. But with home prices reaching record heights affordability plays a huge role for buyers.

The typical home value in the United States was a record $351,423 in August, 1.3% higher than the year before. High mortgage rates are also making monthly payments more expensive; as of Sept. 21, the 30-year fixed mortgage rate sits at 7.19%.

Although home prices have inflated all across the U.S., there are some cities that command a higher price tag than others. Location, size, age, and condition are all contributing factors to home value.

Stacker compiled a list of cities with the most expensive homes in the Florence metro area using data from Zillow. Charts show the monthly typical home value since January 2018.

Stacker

#12. Sheffield, AL

– Typical home value: $117,189
– 1-year price change: +4.9%
– 5-year price change: +52.1%

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#11. Cherokee, AL

– Typical home value: $134,343
– 1-year price change: -1.0%
– 5-year price change: +26.5%

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#10. Leighton, AL

– Typical home value: $146,580
– 1-year price change: +2.9%
– 5-year price change: +39.7%

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#9. Russellville, AL

– Typical home value: $151,163
– 1-year price change: +12.6%
– 5-year price change: +58.8%

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#8. Waterloo, AL

– Typical home value: $178,895
– 1-year price change: +3.4%
– 5-year price change: +55.2%

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#7. Tuscumbia, AL

– Typical home value: $178,993
– 1-year price change: +2.5%
– 5-year price change: +40.3%

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#6. Florence, AL

– Typical home value: $190,863
– 1-year price change: +2.4%
– 5-year price change: +52.0%

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#5. Lexington, AL

– Typical home value: $206,459
– 1-year price change: +2.0%
– 5-year price change: +55.5%

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#4. Anderson, AL

– Typical home value: $237,538
– 1-year price change: +4.0%
– 5-year price change: +68.3%

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#3. Muscle Shoals, AL

– Typical home value: $238,968
– 1-year price change: +4.6%
– 5-year price change: +49.0%

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#2. Rogersville, AL

– Typical home value: $240,257
– 1-year price change: +4.5%
– 5-year price change: +55.9%

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#1. Killen, AL

– Typical home value: $261,766
– 1-year price change: +4.2%
– 5-year price change: +56.4%

This story features data reporting and writing by Elena Cox, and is part of a series utilizing data automation across 379 metros.