The 10 Most Affordable Places To Live In Alabama

The new year is in full swing, which means many of us are in the process of making resolutions. One of the most popular resolutions is of course gaining control of our finances. For many Alabamians, this means relocating to a new town that's much more affordable, as well as quaint and charming. If you can relate to this and you're having trouble finding an affordable place to relocate, no worries. Here are some of the most affordable places to live in Alabama, based on a number of factors.

Note: HomeSnacks determined the affordability of these places by consulting the latest cost of living Census data.

1. Lincoln

Lincoln, which has a population of 6,600, is the fastest-growing city in Talladega County, Alabama. Its "Home Price To Income Ratio" is 1.7x, and its "Income To Rent Ratio" is 77.2x. For 2020, Lincoln's median income is $66,997, and its median home value is $116,600.

2. Tuscumbia

Tuscumbia is the county seat of Colbert County, Alabama and was incorporated in 1820. It has a population of 8,426, and a few of its most popular attractions include the Alabama Music Hall of Fame, Ivy Green: The Birthplace of Helen Keller, and Spring Park. The city's "Home Price To Income Ratio" is 2.1x, and its "Income To Rent Ratio" is 75.3x. For 2020, Tuscumbia's median income is $51,105, and its median home value is $108,800.

3. Russellville

Russellville, which was incorporated in 1819, is the county seat of Franklin County, Alabama. It has a population of 9,711 and is best known for its annual Watermelon Festival, King Drive-In, and its historic Roxy Theatre. Russellville's "Home Price To Income Ratio" is 2.2x, and its "Income To Rent Ratio" is 73.6x. For 2020, Russellville's median income is $41,658, and its median home value is $93,700.

4. Roanoke

Roanoke, which has a population of 5,941, is located in Randolph County, Alabama and was officially incorporated in 1890. Its "Home Price To Income Ratio" is 2.1x, and its "Income To Rent Ratio" is 63.6x. For 2020, Roanoke's median income is $37,298, and its median home value is $78,900.

5. Attalla

Attalla, which was founded in 1870, is located in Etowah County and is known as "The Gateway to Northeast Alabama." Its "Home Price To Income Ratio" is 1.7x, and its "Income To Rent Ratio" is 60.5x. For 2020, Attalla, which has a population of 5,847, has a median income of $40,998. Its median home value is $70,900.

6. Hamilton

Hamilton, which has a population of 6,664, was incorporated in 1896 and is the county seat of Marion County, Alabama. Its "Home Price To Income Ratio" is 2.5x, and its "Income To Rent Ratio" is 73.1x. For 2020, Hamilton's median income is $38,670, and its median home value is $97,000.

7. Hartselle

Hartselle, which is known as the "City of Southern Hospitality," is one of Morgan County's largest cities. With a population of 14,405, it's also the largest city on this list. Hartselle's "Home Price To Income Ratio" is 2.3x, and its "Income To Rent Ratio" is 89.6x. For 2020, Hartselle's median income is $59,482, and its median home value is $137,600.

8. Clay

Clay, which is named after the soil in the area, was incorporated in 2000 and is located in Jefferson County, Alabama. Its "Home Price To Income Ratio" is 2.2x, and its "Income To Rent Ratio" is 83.1x. For 2020, Clay's median income is $68,590, and its median home value is $148,800.

9. Pinson

Like Clay, Pinson is also located in Jefferson County, Alabama. It was incorporated in 2004 and is well known for its annual Butterbean Festival and Turkey Creek Nature Preserve. Pinson, which has a population of 7,121, has a "Home Price To Income Ratio" of 2.0x and an "Income To Rent Ratio" of 68.1x. For 2020, its median income is $64,252, and its median home value is $130,000.

10. Glencoe

Glencoe, which is known as the "City of Patriotism," is located in both Calhoun and Etowah counties. One of the town's most popular attractions is Big Chief Drive-In. Glencoe has a population of 5,120. Its "Home Price To Income Ratio" is 2.4x, and its "Income To Rent Ratio" is 105.4x. For 2020, Glencoe's median income is $59,114, and its median home value is $142,200.

Have you ever visited, or currently live in, any of these 10 places? If so, do you believe they're truly affordable? Please share your thoughts with us in the comments below.

For a list of Alabama's 10 most dangerous cities to live in 2020, be sure to take a look at the  10 Most Dangerous Cities In Alabama For 2020.