Are you wondering the Differences Between Homes In Huntsville And Homes In Montgomery? So you have decided to move to the state of Alabama which is great because the Empire City of the South is a wonderful and affordable place to live. If you have made this decision but you just can’t figure out where exactly you would like to settle, that is quite understandable because Alabama has quite a few counties and neighborhoods, so it may be difficult to just pick one.
Chances are you have eliminated some neighborhoods due to personal preferences and it all boils down to a few options. If those choices happen to be between Huntsville and Montgomery, then we may be able to assist you in making a decision. Here are a few differences we think you would like to know when comparing homes in Huntsville to Montgomery.
Home Cost
One of the major differences between homes in Huntsville and Montgomery is the cost. The median home cost in the United States, in general, is estimated to be about $230,000. In Montgomery, the median cost of a house is estimated to be $84,000. In Huntsville estimates of housing costs get up to $150,000. Both communities have a population of over 190,000 people with Montgomery just shy of the 200,000 mark.
Home Age
The median home ages in both communities are appropriate and are not much different from each other. The median home age in the United States is 40 which is the same as in Montgomery. In Huntsville, the median home age comes in at 39 just a year shy of Montgomery.
Property Tax Rate
Now, this is where you get to enjoy some Alabama cheap living. The median property tax rate in the United States as a whole is $11.8. In Huntsville, the median property tax rate is as low as $5.5. On the other hand, in Montgomery, the median property tax rate is an astonishing $3.9, one of the lowest in the entire country. But don’t move to Montgomery just yet.
Home Appreciation (Last 12 Months)
You definitely want to take a look at the home appreciation rates. When you buy a home in any neighborhood, it’s tendency to appreciate should be considered. If the appreciation rates are high, you can sell your home for much more than you bought it when you are ready to leave. The median appreciation rate in the United States for the last year is estimated at 6.7%. Homes in Montgomery have increased in value by only 3.3% in the last year, and Huntsville has increased in value by a whopping 8.2%. In the last five years houses in Montgomery have appreciated only 6.8% and in Huntsville 19.3% with the median of the United States at 35.6%.
Homes On Sale(%)
It is important to know the rate of homes on sale when considering two neighborhoods. A higher probability means that you are likely to secure a property faster. The median percentage of homes on sale in the country as a whole is 1.0%. In Huntsville, the median percentage of vacant homes for sale is about 1.1% and in Montgomery, 1.4%.
Homes Vacant For Rent(%)
Now if you are looking to rent a home in Alabama, the percent of homes vacant for rent should be considered. An average of 2.1% of the homes in the whole of the United States are for rent. In Huntsville, the average percentage of homes for rent is estimated at 3.4%, and in Montgomery at 3.6%.
Average Rent Cost
Average Rent Cost: The average rent cost is another thing to consider if you are looking to rent a home. The average rent cost for homes in the United States this year is estimated to be about $1,470. In Huntsville, the average rent cost is about $1200 and in Montgomery, rent cost is considerably cheaper with an average of only $866.
The statistics above are a few of the differences between homes in the two neighborhoods. With these few figures we hope we have been able to help you come to a suitable decision concerning these two towns, assuming you were deciding between the two in the first place.
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