36105, Montgomery, AL

The 36105 zip code of Montgomery, AL has a median home value of $132,000. Home values in this zip code have increased by an average of 5.5% over the past year. This is much higher than the national average increase of 2.8%. The main drivers of this increase are likely due to strong demand and low supply in the area.

There are currently 1,724 homes for sale in the 36105 zip code, which is below the national average of 2,130 homes for sale. This indicates that there is strong demand for housing in this area and that potential home buyers are able to find what they are looking for relatively easily. Additionally, there are only 0.3 homes per acre available in this zip code, which is below the national average of 1.4 homes per acre and indicates that there is limited availability of land for new construction. This suggests that buyers who want to purchase a home in this area will likely need to be prepared to wait awhile or look outside the 36105 zip code for their desired property type.

Despite these positive factors, there are some challenges facing buyers in the 36105 zip code when it comes to purchasing a home. One challenge is that prices have been increasing faster than wages over recent years which may make buying a home more difficult for some people who do not have ample savings or whose income does not cover all costs associated with owning a home such as property taxes and mortgage payments on a typical mortgage size (i.e., $200,000). Additionally, while Montgomery has seen strong job growth over recent years, many jobs require good transportation options which may limit potential residents’ ability to live close enough to work so they can take advantage of local amenities such as grocery stores and schools without having to spend excessive amounts on transportation costs each month (i.e., commuting).