10 Alabama counties listed in report’s 50 least expensive counties to live
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Rural counties in Alabama were all over a recent study from 24/7 Wall St, examining the 50 least expensive counties to live in across the country.
10 Alabama counties made the list including four in the top 20. Franklin County is the highest Alabama county on the list coming in at No. 4 overall.
“For years, rapidly rising prices have strained household budgets for millions of Americans. But while no corner of the country was spared from the effects of inflation, there are specific places where the cost of living is markedly lower than in much of the rest of the country.”
24/7 Wall St.
Keep reading to see which Alabama counties made the top 50 + why.
‘Where $50,000 goes the furthest’
The 10 Alabama counties on the list are away from the state’s biggest metropolitan areas, which was a pattern for 24/7’s study.
“With small populations, the demand for goods and services tends to be lower, which ultimately pushes down consumer prices. This interplay is reflected in local housing markets. According to the U.S. Census Bureau, median home values in these counties are anywhere from about 16% to 80% lower than the comparable national median.”
24/7 Wall St
Here’s the full list of Alabama counties included in the study + where they rank nationally:
- Franklin: 4th
- Clay: 10th
- Winston: 12th
- Lamar: 18th
- Fayette: 25th
- Marion: 28th
- Randolph: 29th
- Jackson: 37th
- DeKalb: 46th
- Pickens: 50th
The report, published in June, used cost-of-living data from the Department of Commerce along with supplemental data from the U.S. Census Bureau’s 2023 American Community Survey including five-year estimates of:
- Median household income
- Median home value
- Unemployment
According to the report, each Alabama county on the list is at least 18% below the national cost-of-living. Franklin County was the least expensive, coming in at 21.4% below the national average.
Baca County in Colorado came in at No. 1 on the list with a cost-of-living at more than 25% below the national average.
“Most counties on this list are also home to relatively low-income populations. Nationwide, the typical American household earns $77,719 per year, while in all but a few of the least expensive counties, a typical household earns less than $55,000 annually. Generally, in high-income areas where residents have more disposable income, greater consumer spending drives up competition for goods and services, which in turn pushes prices higher.”
24/7 Wall St
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