Quick facts: Silverhill, AL

Quick Facts

93
Cost of Living
below US average
1,369
Population
24.84
Crime Rate per 1000
above US average
$58,510
Median Income
below US average
$302,783
Median House Price
above US average
$2116.67
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 $58,510.

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Income Needed to Buy

βœ— Stretch
$95k/year
Based on $302,783 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $95k vs median $58,510
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Income Needed to Rent

⚠ Stretch
$91k/year
Based on $2116.67/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $91k vs median $58,510
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Silverhill, AL

Silverhill is a small, quaint town located in Baldwin County, Alabama. Nestled in the southern part of the state, it’s part of the Fairhope-Foley Metropolitan Statistical Area. The town, with a population of around 1,000 residents, offers a tight-knit community atmosphere, characterized by a peaceful rural setting and Southern hospitality. Silverhill is known for its charming historic downtown, featuring local shops, eateries, and community events that foster a strong sense of community. The town is conveniently located near larger cities like Foley and Fairhope, providing residents access to more extensive amenities and recreational activities. Nature enthusiasts will appreciate the nearby parks and natural attractions, perfect for outdoor activities such as hiking, fishing, and picnicking. The proximity to the Gulf Coast offers additional recreational options, including beautiful beaches and water sports. Silverhill combines the tranquility of small-town living with the conveniences of nearby urban areas, making it an appealing location for families and retirees alike.

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