Finding the ideal place to buy a home isn’t just about finding a neighborhood that’s desirable or a community located in a close enough area to get to and from work easily. It also pays to learn about the community’s lifestyle and the overall affordability of local real estate there. One community that is getting a lot of attention for its affordability in Alabama is Madison. For those who are thinking about making a move to buy that first home – or buy their next home – Madison is an ideal place to consider for multiple reasons.
One of the Most Affordable Communities
The website 24/7 Wall Street recently spent some time looking at numerous housing markets throughout the country. It considered factors such as increasing demand, home payments, rents, and home prices when it compiled a list of the most affordable housing markets in the country. Of the 25 locations it pinpointed across the country, Madison came in at number nine on the list. That’s pretty impressive
What does Madison have to offer? To start, the average monthly wage in the city is $4,550. The site found that 19 percent of homeowners income in Madison will go towards their mortgage payment or 24 percent of income will go towards a rental payment for renters. That’s pretty impressive when you factor in home prices in the area, local demand (which continues to rise) and the high quality of life that is present in Madison and the surrounding areas.
The only other community in Alabama to rank on the list was Montgomery, which came in at number 11. For those considering buying a home in Madison, working with a local real estate agent is important. It can help you to take full advantage of this community’s affordability and to make your next home purchase the perfect one for you and your family. With so many options, Madison is a true treasure for buyers.