Quick facts: Red bay, AL

Quick Facts

93
Cost of Living
below US average
3,205
Population
21.53
Crime Rate per 1000
below US average
$33,234
Median Income
below US average
$135,000
Median House Price
above US average
$1372
Average Rent
below 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 $33,234.

🏠

Income Needed to Buy

βœ— Stretch
$42k/year
Based on $135,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $42k vs median $33,234
🏒

Income Needed to Rent

⚠ Stretch
$59k/year
Based on $1372/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $59k vs median $33,234
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Red bay, AL

Red Bay is a charming city located in Franklin County, Alabama. With a population of around 3,000 residents, it offers a tight-knit community atmosphere. The city's rich history is evident in its well-preserved architecture and local landmarks. Founded in the late 19th century, Red Bay originally thrived on agriculture, particularly cotton farming, and has since diversified its economy. One prominent feature of Red Bay is its close proximity to natural attractions, including nearby state parks and lakes, which provide ample opportunities for outdoor activities like hiking, fishing, and camping. The city hosts several annual events and festivals that celebrate its heritage, fostering community spirit and attracting visitors. Red Bay also boasts a number of local businesses, restaurants, and services that cater to residents and travelers alike. The educational needs of the community are met by quality schools, and the city maintains a friendly, welcoming environment. Overall, Red Bay exemplifies the charm of small-town Alabama, offering a peaceful lifestyle while being near larger urban centers. Whether for a visit or a longer stay, Red Bay has plenty to offer.

πŸ” Search & Compare Places

First Location πŸ“