Quick facts: Vernon, AL

Quick Facts

93
Cost of Living
below US average
1,863
Population
16.64
Crime Rate per 1000
below US average
$37,350
Median Income
below US average
$107,250
Median House Price
above US average
$650.0
Average Rent
below US average
15%
Poverty Rate
above US average
4.6%
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 $37,350.

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Income Needed to Buy

βœ“ Affordable
$34k/year
Based on $107,250 median home price
Assumes 30-year mortgage at 7% with 20% down payment
πŸ“Š Median income ($37,350) exceeds requirement
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Income Needed to Rent

βœ“ Affordable
$28k/year
Based on $650.0/month average rent
Annual income where rent = 28% of gross
πŸ“Š Median income ($37,350) exceeds requirement
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Vernon, AL

Vernon is a small city located in Lamar County, Alabama. Nestled in the northwestern part of the state, Vernon serves as the county seat and has a rich history dating back to its founding in 1886. With a population of around 2,000 residents, it offers a tight-knit community atmosphere. The city is known for its scenic landscapes and proximity to beautiful natural areas, including parks and recreational spots. Vernon provides a mix of outdoor activities, from hiking and fishing to picnicking at local parks. The city's downtown area features a blend of historical buildings and local businesses, contributing to its charming Southern ambiance. Vernon hosts several annual events and festivals that celebrate its culture and community spirit, providing opportunities for residents and visitors to engage and enjoy local traditions. The city is also close to larger towns like Tuscaloosa and Fayette, allowing residents access to additional amenities and services. Overall, Vernon is a peaceful place to live, offering the charm of small-town life while being near larger urban areas.

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