Quick facts: Abbeville, AL

Quick Facts

93
Cost of Living
below US average
2,366
Population
28.32
Crime Rate per 1000
above US average
$35,147
Median Income
below US average
$76,500
Median House Price
above US average
$1372
Average Rent
below US average
15%
Poverty Rate
above US average
4.6%
Unemployment Rate
above US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $35,147.

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Income Needed to Buy

βœ“ Affordable
$24k/year
Based on $76,500 median home price
Assumes 30-year mortgage at 7% with 20% down payment
πŸ“Š Median income ($35,147) exceeds requirement
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Income Needed to Rent

⚠ Stretch
$59k/year
Based on $1372/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $59k vs median $35,147
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Abbeville, AL

Abbeville, located in Henry County, Alabama, is a quaint city known for its rich history and Southern charm. With a population of around 3,000 residents, it serves as a cozy community where neighbors know each other. The city boasts historic architecture, including the picturesque Old Henry County Courthouse, which adds to its small-town feel. Abbeville is surrounded by beautiful landscapes, including lakes and parks, making it ideal for outdoor enthusiasts. The city is near the scenic Lake Eufaula, which offers fishing, boating, and recreational opportunities. The community also celebrates various local events, such as the annual Catfish Festival, showcasing local culture and cuisine. The economy is largely supported by agriculture and small businesses, reflecting the rural lifestyle of the area. Abbeville is characterized by its slow pace of life, friendly residents, and a close-knit community atmosphere, making it a perfect spot for those seeking tranquility away from the bustle of larger cities. Overall, Abbeville embodies the essence of Southern hospitality and charm.

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