10 most affordable places to buy a house in Alabama

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10 most affordable places to buy a house in Alabama
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found in a recent analysis of the most affordable places to buy a home in Alabama. To make its top 10 list, SmartAsset analyzed closing costs, real estate taxes, homeowners insurance and mortgage rates for cities with a population of 5,000 or more. The analysis measured the total cost of owning a home in each city over a five-year period.

That five-year cost was then measured as a proportion of median household income in each place to determine affordability. According to SmartAsset, the most affordable places were those in which total housing costs were smallest compared to the median income in each area.Avg. annual mortgage payment - $5,473Avg. annual mortgage payment - $7,667Avg. annual mortgage payment - $7,437Avg. annual mortgage payment - $4,600Avg. annual mortgage payment - $8,151Avg. annual mortgage payment - $4,723Note to readers: if you purchase something through one of our affiliate links we may earn a commission.

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