Housing costs in Hoover?
A typical home costs
$482,700, which is 42.8% more expensive than the national average of
$338,100 and 125.6% more expensive than the average Alabama home, at
$214,000. Renting a two-bedroom unit in Hoover costs
$1,410 per month, which is 50.0% more than the national average of
$940 and 24.8% more than the state average of
$1,060.
Can I afford Hoover?
To live comfortably in Hoover (zip 35242), Alabama, a minimum annual income of
$92,520 for a family, and
$49,200 for a single person is recommended.
What does A.I. say about Hoover?
The cost of living in 35242 Hoover, AL is quite reasonable. According to the most recent data, the cost of living index for the area is 89.2, which is 11.8% lower than the national average. This means that residents of 35242 Hoover, AL enjoy a lower cost of goods and services than those living in other parts of the country. Housing costs in particular are quite affordable compared to many parts of the United States; on average, households spend just 23.5% of their total income on housing costs such as rent and mortgage payments. Additionally, transportation costs are also much lower than the national average due to the city's proximity to both Interstates 65 and 59, making it easy to get around town by car or public transportation. All things considered, living in 35242 Hoover, AL can be very affordable for individuals and families looking for a place to call home.