35010, Alexander City, AL

The 35010 zip code of Alexander City, AL is located in the southeastern portion of the state and includes a population of approximately 11,000. The median household income in this zip code is $40,000 and the median home value is $130,000. Approximately 60% of households in this zip code own their homes and 40% are renters.

Home equity has been on the rise for many Americans over the past several years as prices have continued to increase faster than wages. In Alexander City, home values have increased by an average of 7% annually over the past five years. This has helped to boost homeownership rates in this area to 60%, which is above the national average of 57%. Home values in Alexander City are also relatively affordable when compared to other areas of Alabama. The average home value in Alexander City is only 2x the statewide median home value and 5x less than the national median home value.

Despite these positive trends, there are some challenges facing homeowners in Alexander City. One issue that has been affecting homeownership rates recently is high levels of mortgage delinquency. In Alexander City, 10% of mortgages are currently delinquent, which is above both the statewide and national averages. Additionally, interest rates have remained relatively low for much of 2017 despite rising mortgage rates elsewhere throughout the country. As a result, many people who would have been able to purchase homes a few years ago may now find that they cannot afford to do so due to increasing prices and higher interest rates.