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There's a the age old question everyone thinks about when they decide to move to a city in Alabama:
Should I buy a place or rent? Well, we aren't here today to solve that problem for you exactly. We are just assuming you'll do the right thing and a buy a place. And while we are happy to tell you the best place to live in Alabama, this analysis is going to tackle the question of the best place to buy a house as an investor. That is we are going to try and determine the up and coming cities in the Heart of Dixie.
To do that we are going to look at places in Alabama that are growing faster than average, but where home prices are below average. In every day terms, the "deals". The best deal in Alabama at the moment? That would be Tallassee according to our analysis.
Here's a look at the top ten places to buy a home in alabama for 2020:
- Tallassee (Photos | Homes For Sale)
- Rainsville (Photos | Homes For Sale)
- Daleville (Photos | Homes For Sale)
- Glencoe (Photos | Homes For Sale)
- Midfield (Photos | Homes For Sale)
- Brewton (Photos | Homes For Sale)
- Smiths Station (Photos | Homes For Sale)
- Chickasaw (Photos | Homes For Sale)
- Attalla (Photos | Homes For Sale)
- Orange Beach (Photos | Homes For Sale)
What's the best place to buy a home in Alabama for 2020? According to our analysis, would the the ideal place to buy a home looking into the future.
The methodology that wen't into this can be a bit complicated, so we'll break it down for you in as much detail as we can below. If you're not worried about finding a deal on good places to live, check out the most expensive places to live in alabama and, for those of you on a budget, the cheapest places to live in alabama.
For more Alabama reading, check out:
- These Are The 10 Best Counties To Live In Alabama
- 10 Best Places To Raise A Family In Alabama
- These Are The 10 Best Places To Retire In Alabama
The 10 Best Cities To Buy A House In Alabama For 2020
The historic Creek peoples in this area are believed to have descended from the Mississippian culture, which flourished throughout the Mississippi and Ohio river valleys and the Southeast from about 1000 to 1450. They were mound builders, who created massive earthwork mounds as structures for political and religious purposes. They relied greatly on fishing and riverway trading at their major sites.
Daleville, originally known as "Dale's Court House", was founded in 1827 by veterans of the Creek Indian War who had settled in Dale County following that conflict. It was established as the original county seat of Dale County in 1827 but lost that honor when Coffee County split from Dale in 1841, at which time the seat was moved first to Newton, and then later to Ozark in 1870, where it remains today.
In May 1861, the city of Brewton began as a train station under Edmund Troupe Bruton. The settlement was originally known as Newport when barges made runs to and from Pensacola, Florida on Murder Creek and Burnt Corn Creek before the installation of rail.
Smiths Station was first settled in 1826. The Central of Georgia Railway was extended through the community from Columbus, Georgia to Opelika, Alabama in 1845. The depot was named for Mr. Broadus Smith, a prominent early settler who lived near the city's current location.
The present site of Chickasaw was, in the early 20th century before the city now standing was incorporated, a company town, wholly owned by companies such as the Gulf Shipbuilding Corporation. It was the subject of a Supreme Court of the United States decision ), which stated that despite being a privately owned town, because it functioned as a town open to the public, the right conferred by the First Amendment to the United States Constitution cannot be abridged.
The town occupies the site of an Indian village which was of considerable importance during the Creek War. It was in Attalla that David Brown, a Cherokee assisted by the Rev. D. S. Butterick, prepared the Cherokee Spelling Book.
How do you determine the best places to buy a home in alabama for 2020?
We were in real estate for almost five years and have been working on this site for another three. Suffice is to say, we've put a lot of thought into what goes into finding a good place to buy a home.
So all that thinking has come to this moment where we get to spell out how we'd approach finding an up-and-coming place to live in Alabama. Put differently, the analysis will try to find places in Alabama with undervalued homes relative to pent up demand.
To do that we looked at the most recent American Community Survey Census data for 2014-2018 and compared it to the previous vintage (2012-2016). Specifically, we used the following criteria:
- Y-o-Y Change In Population (People want to live here)
- Y-o-Y Change In Median Home Prices (People are willing to pay for it)
- Home Prices Relative To The State Average (It's still kinda cheap)
We want places that are growing, have seen home prices increase in recent years, and are still "cheap" for Alabama with the following caveats:
- Home prices had to be within 20% of the state average (Much lower than that and you get to some of the more dangerous places)
- Home prices increased in the last year, and
- Above 5,000 people (Bigger cities have more data points)
So of the 0 cities and towns in Alabama, only 104 places made it through our initial filters to even be considered.
We then ranked each place from 1 to 104 for the criteria mentioned above with 1 being the best for that criteria. We averaged the rankings to create a "best place to buy" index with the place having the lowest index being the best. You can download the data here.
Turns out that Tallassee is the best potential gem in the not-so-rough in the Heart of Dixie.
Read on for more on these places.
There You Have It - The Best Places To Purchase A House In alabama for 2020
There's our analysis of the best places to buy a house in Alabama. And, to be clear, we aren't necessarily saying these places are the best places to live, just that it looks like they might be in a couple of years based on the data.
In fact, every place in the following table meets our criteria, so even though it may not look super long, remember we started off with all 0 places in the state.
So if we'd could rent or buy in these cities, we'd definitely buy.
For more alabama reading, check out: