Cleburne County, Alabama Housing Market

📝 Local Market Notes

Cleburne County, Alabama, presents a balanced market characterized by strong affordability metrics relative to national standards, though recent price acceleration warrants attention. The price-to-income ratio stands at 2.99, below the national average of 3.20, while the rent burden is 17.3%, nearly identical to the national benchmark of 17.2%. These figures indicate that housing costs remain manageable for local households, which have a median income of $55,345. However, the market is not overwhelmingly favorable for buyers or renters in isolation; rather, it reflects a stable equilibrium where demand and supply are currently aligned. The 78.5% owner-occupancy rate suggests a traditional residential structure, with single-family homes dominating the inventory, as evidenced by the 11 new single-family permits authorized in 2025 and zero multi-family units. The most significant trend is the sharp acceleration in home values since 2021. After a period of stagnation and a slight dip in 2021, prices surged 13.2% in 2022, 9.3% in 2023, and 14.8% in 2024, reaching a median of $165,600. This recent spike contrasts with the FHFA HPI data for 2025, which shows a 0.00% year-over-year change, indicating a potential stabilization or lag in the reporting of mortgage-backed transactions compared to the broader Census estimates. This divergence suggests that the initial rapid appreciation may be cooling or that the HPI index is reflecting a different subset of transactions. Meanwhile, the price-to-rent ratio of 17.3 is below the national average of 18.7, suggesting that buying remains slightly more economical than long-term renting, a dynamic supported by the similar growth rates of home values and rents. Regional context further clarifies the market's position. Cleburne County’s median home value is 27.3% below the national average but slightly exceeds the state average by 3.7%. This premium relative to the state is supported by positive net migration of 375 filers between 2021 and 2022, with incoming residents earning an average income of $62,206. Despite the local economy’s modest scale, with only 2,047 total jobs and an average weekly wage of $1,144, the influx of higher-earning migrants supports demand. With national mortgage rates at 7.40%, the low price-to-income ratio provides a buffer against financing costs. For potential buyers, the market offers entry-level affordability, but the recent 14.8% price jump indicates that inventory is tight, with only 11 new units permitted to meet demand. Renters face standard national cost pressures, with no significant advantage or disadvantage relative to broader U.S. trends.

Based on U.S. Census ACS 2024 5-Year Estimates.