Quick facts: Cottonwood, AL

Quick Facts

93
Cost of Living
below US average
1,057
Population
11.35
Crime Rate per 1000
below US average
$31,591
Median Income
below US average
$175,000
Median House Price
above US average
$1725.0
Average Rent
above US average
10%
Poverty Rate
below US average
3.5%
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 $31,591.

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Income Needed to Buy

βœ— Stretch
$55k/year
Based on $175,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $55k vs median $31,591
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Income Needed to Rent

⚠ Stretch
$74k/year
Based on $1725.0/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $74k vs median $31,591
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Cottonwood, AL

Cottonwood is a small town located in Houston County, Alabama. Nestled in the southeastern part of the state, it serves as a quaint community that embodies the charm of rural America. With a population of around 1,200 residents, Cottonwood offers a tight-knit atmosphere where neighbors know each other and community events are a staple. The town is conveniently situated near Dothan, allowing for access to larger city amenities while retaining its small-town feel. The landscape around Cottonwood is characterized by rolling hills and scenic views typical of Alabama's countryside. Residents enjoy a slower pace of life and engage in activities such as hunting, fishing, and farming, reflecting the area's agricultural roots. Local parks and recreational areas provide spaces for outdoor activities and community gatherings. Cottonwood's historical significance is tied to its roots in the cotton industry, which influenced its growth and development over the years. While it may not have extensive commercial options, its charm lies in its local businesses and community spirit. Overall, Cottonwood offers a peaceful retreat for those seeking a rural lifestyle with access to nearby urban resources.

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