Cities with the most expensive homes in the Florence metro area

Purchasing a home is one of the most important investments there is. More than a place to live, homeownership is an asset with the potential to tremendously rise in value. But with home prices reaching record heights, affordability plays a huge role for buyers.

The typical home value in the United States was $360,999 in September, 2.4% higher than the year before.

High mortgage rates are also making monthly payments more expensive; as of October 17, the 30-year fixed mortgage rate sits at 6.44%.

Although home prices have inflated all across the U.S., there are some cities that command a higher price tag than others. Location, size, age, and condition are all contributing factors to home value.

Stacker compiled a list of cities with the most expensive homes in the Florence metro area using data from Zillow. Charts show the monthly typical home value since January 2018. All 12 cities and towns with data available were included in the list.

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#12. Sheffield, AL

– Typical home value: $123,462
– 1-year price change: +7.8%
– 5-year price change: +60.3%

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#11. Cherokee, AL

– Typical home value: $132,867
– 1-year price change: +2.8%
– 5-year price change: +37.1%

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#10. Leighton, AL

– Typical home value: $146,526
– 1-year price change: +5.3%
– 5-year price change: +45.9%

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#9. Russellville, AL

– Typical home value: $163,125
– 1-year price change: +5.3%
– 5-year price change: +57.1%

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#8. Waterloo, AL

– Typical home value: $163,172
– 1-year price change: +3.9%
– 5-year price change: +52.5%

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#7. Tuscumbia, AL

– Typical home value: $184,470
– 1-year price change: +4.8%
– 5-year price change: +49.8%

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#6. Florence, AL

– Typical home value: $199,810
– 1-year price change: +5.0%
– 5-year price change: +50.2%

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#5. Lexington, AL

– Typical home value: $205,987
– 1-year price change: +4.7%
– 5-year price change: +52.1%

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#4. Anderson, AL

– Typical home value: $212,710
– 1-year price change: +2.1%
– 5-year price change: +60.9%

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#3. Rogersville, AL

– Typical home value: $245,004
– 1-year price change: +4.6%
– 5-year price change: +59.7%

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#2. Muscle Shoals, AL

– Typical home value: $246,897
– 1-year price change: +4.0%
– 5-year price change: +54.8%

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#1. Killen, AL

– Typical home value: $263,753
– 1-year price change: +4.2%
– 5-year price change: +56.9%