Quick facts: Montevallo, AL

Quick Facts

93
Cost of Living
below US average
7,637
Population
22.91
Crime Rate per 1000
below US average
$56,500
Median Income
below US average
$322,900
Median House Price
above US average
$1564.11
Average Rent
above US average
Poverty rate Data is updating, will be available soon
Unemployment Data is updating, will be available soon

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 $56,500.

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Income Needed to Buy

βœ— Stretch
$101k/year
Based on $322,900 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $101k vs median $56,500
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Income Needed to Rent

⚠ Stretch
$67k/year
Based on $1564.11/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $67k vs median $56,500
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Montevallo, AL

Montevallo, Alabama, is a charming small town located in Shelby County, about 30 miles south of Birmingham. With a rich history dating back to the 1800s, it is known for its picturesque landscapes and friendly community atmosphere. The town is home to the University of Montevallo, which adds a vibrant energy to the area and provides cultural and educational opportunities. Montevallo features several historic sites, including the Alabama National Cemetery and the beautiful, historic districts filled with antebellum architecture. Outdoor enthusiasts can enjoy the stunning landscapes of the nearby Montevallo Park and the Mound State Monument, a significant archaeological site. The city hosts community events like the annual Montevallo Christmas Parade and the Montevallo Arts Festival, celebrating local culture and creativity. With a population of around 6,000 residents, Montevallo offers a tight-knit community feel while providing access to urban amenities located nearby in Birmingham. Overall, Montevallo stands out as a lovely blend of history, education, and Southern charm.

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