Quick facts: Fairfield, AL

Quick Facts

93
Cost of Living
below US average
9,690
Population
111.35
Crime Rate per 1000
above US average
$45,646
Median Income
below US average
$97,500
Median House Price
above US average
$992.62
Average Rent
below US average
30%
Poverty Rate
above US average
5.0%
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 $45,646.

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Income Needed to Buy

βœ“ Affordable
$31k/year
Based on $97,500 median home price
Assumes 30-year mortgage at 7% with 20% down payment
πŸ“Š Median income ($45,646) exceeds requirement
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Income Needed to Rent

βœ“ Affordable
$43k/year
Based on $992.62/month average rent
Annual income where rent = 28% of gross
πŸ“Š Median income ($45,646) exceeds requirement
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Fairfield, AL

Fairfield, Alabama, is a small city located in Jefferson County, just 10 miles southwest of Birmingham. With a rich history dating back to its founding in the early 20th century, Fairfield originally attracted a flourishing steel industry and is still recognized for its industrial roots. The city has a population of approximately 11,000 residents and features a close-knit community atmosphere. Fairfield is characterized by its diverse neighborhoods, offering a range of residential options. The city is home to a mixture of traditional homes and more modern developments. The local economy has seen diversification over the years, moving beyond its industrial origins to include service-oriented businesses and retail. Residents enjoy access to several parks, including the 24-acre John R. McMahon Park, which offers recreational facilities and picnic areas. The city is also known for its historic sites and community events that bring families together. Education in Fairfield is supported by the Fairfield City School System, which aims to provide a well-rounded education for local students. With its strategic location near Birmingham, residents benefit from the amenities of a larger city while enjoying the charm of a smaller community.

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