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 $350,091 in September, 2.1% higher than the year before.

High mortgage rates are also making monthly payments more expensive; as of Oct. 19, the 30-year fixed mortgage rate sits at 7.63%. 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 using data from Zillow. Charts show the monthly typical home value since January 2018.

Stacker

#12. Sheffield, AL

– Typical home value: $116,958
– 1-year price change: +5.3%
– 5-year price change: +53.8%

Stacker

#11. Cherokee, AL

– Typical home value: $131,597
– 1-year price change: +0.4%
– 5-year price change: +28.2%

Stacker

#10. Leighton, AL

– Typical home value: $143,783
– 1-year price change: +4.6%
– 5-year price change: +41.3%

Stacker

#9. Russellville, AL

– Typical home value: $154,959
– 1-year price change: +12.8%
– 5-year price change: +58.2%

Stacker

#8. Tuscumbia, AL

– Typical home value: $180,081
– 1-year price change: +2.9%
– 5-year price change: +40.3%

Stacker

#7. Waterloo, AL

– Typical home value: $183,970
– 1-year price change: +4.6%
– 5-year price change: +54.4%

Stacker

#6. Florence, AL

– Typical home value: $192,333
– 1-year price change: +2.4%
– 5-year price change: +51.4%

Stacker

#5. Lexington, AL

– Typical home value: $208,117
– 1-year price change: +2.1%
– 5-year price change: +53.0%

Stacker

#4. Muscle Shoals, AL

– Typical home value: $240,107
– 1-year price change: +4.9%
– 5-year price change: +49.1%

Stacker

#3. Anderson, AL

– Typical home value: $240,202
– 1-year price change: +4.0%
– 5-year price change: +66.0%

Stacker

#2. Rogersville, AL

– Typical home value: $240,706
– 1-year price change: +4.4%
– 5-year price change: +55.1%

Stacker

#1. Killen, AL

– Typical home value: $262,305
– 1-year price change: +3.4%
– 5-year price change: +55.4%

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