Quick facts: Altoona, AL

Quick Facts

93
Cost of Living
below US average
941
Population
12.75
Crime Rate per 1000
below US average
$38,750
Median Income
below US average
$24,500
Median House Price
above US average
$1372
Average Rent
below US average
15%
Poverty Rate
above US average
3.2%
Unemployment Rate
below 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 $38,750.

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Income Needed to Buy

βœ“ Affordable
$8k/year
Based on $24,500 median home price
Assumes 30-year mortgage at 7% with 20% down payment
πŸ“Š Median income ($38,750) 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 $38,750
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Altoona, AL

Altoona, Alabama, is a small town located in Blount County, known for its close-knit community and scenic surroundings. With a population of around 1,000 residents, Altoona embodies the charm of Southern small-town life. The town offers a peaceful atmosphere characterized by its historic sites and natural beauty, making it an ideal place for those seeking a quiet lifestyle. Altoona is situated near the banks of the Black Warrior River, providing opportunities for outdoor activities such as fishing, kayaking, and hiking. The picturesque landscapes include rolling hills and lush forests typical of the region. Despite its size, Altoona is conveniently located near larger cities like Birmingham, allowing residents to enjoy the tranquility of rural life while still having access to urban amenities. Local attractions include the Altoona Museum, which showcases the history of the town and surrounding area, and various community events that foster a strong sense of camaraderie among residents. Overall, Altoona is a welcoming town that offers a glimpse into the charm of Alabama's rural heartland.

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