We spend daily. Feeding, education, healthcare… and the list goes on and on. Day in, day out, you earn and exchange money for value. It is how you get what you want. So, whether you’re looking forward to selling your house in Hoover or you’re considering becoming a homeowner in Hoover, having an idea of your average costs will come in handy. This is why we’ll be looking at the cost of living in Hoover, AL.
About Hoover
Hoover is a fast-growing suburb in Jefferson and Shelby Counties in north-central Alabama, United States. Incorporated in 1967, the city was named after a local insurance company owner, William H. Hoover, and has been known as the Green Valley community since the 1930s.
As of 2020, Hoover had an estimated population of 92 606 and is notably the largest suburb of Birmingham- a developing suburb littered with fascinating areas. Its areas of interest include the Aldridge Botanical Gardens, Hoover Metropolitan Stadium, River chase Galleria (a gigantic mixed-use center). Furthermore, It is home to the Ross Bridge Golf Resort and Spa, the third-longest golf course globally, Moss Rock Preserve, and the Library Theatre.
The city has ten elementary schools, three middle schools, and two high schools. Its high schools- Spain Park High School and Hoover High School, ranks excellently. Furthermore, they have been rated close to the top 500 schools in the country. Colleges and universities in and around the city include The Shelby-Hoover campus of the Jefferson State Community College in Shelby County and a Faulkner University campus. The University of Alabama in Birmingham (UAB), which boasts the premier medical school of Alabama, is located in downtown Birmingham is just about 8–10 miles away.
Overall, Hoover offers you the sweet, dense suburban feel and is one of Alabama’s best places to live. Additionally, It ranks as the 4th of 281 best places to raise a family in Alabama.
Cost of Living in Hoover, AL
Here is a quick summary of the average cost of living in the Green Valley Community…
Feeding
Undoubtedly, we all need food to survive, and this seemingly minor element takes a significant cut of our earnings. In Hoover, a single adult spends about $3,300 on food yearly, while the feeding cost of four may ranch up to $9,530 on an average.
Transportation
You certainly have to move from place to place within the city. The average commute in Hoover is about 23.8 minutes long. On average, a single person is likely to spend $9,889 on transportation yearly. This value is about the same as the national average.
Housing
The value of the median home in Hoover is about $280,400. However, if you’re purchasing a house built earlier than 1940, consider an average price of $248,900 and $431,200 for a modern home built later than 2014.
Taxes
Annually, the average adult earner in Hoover pays $6,800 as tax, a value somewhat close to the national average of $6,084.
Rent
While housing affordability varies from area to area, a typical renter in Hoover will spend about $1,100 monthly.
HealthCare
A single adult in Hoover will spend about $5,000 yearly on health care.
Childcare
Childcare is no doubt a pivotal addition to a family’s cost of living. Hence, It is estimated that childcare for two children (say a four-year-old and a seven-year-old) runs close to $15,000 per year.
Incomes and Financing
- Average Salary (Yearly) $57,033.00
- Average Salary (Hourly) $27
- Median Household Income $89,452
Conclusion
As promised, you have a quick summary of the cost of living in Hoover- a puzzle piece to help you piece together the whole Hoover picture.
If you’re a homeowner looking to sell your house in Hoover fast and easy, you should have Rhed key handle the sale. We buy houses in Alabama at competitive prices and ensure a hassle-free home sale.
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