I would consider your lifestyle. The economics of both areas are probably somewhat depressed, even though both are either in or close to college towns. Florence (UNA) and Calera (Montevallo).
From a real estate market perspective to practice, I would choose Calera and work from B'ham. Even Pinson, Roebuck Parkway and Centerpoint areas are nice areas with homes in your price range.
From a quiet living retirement perspective with Calera and Florence the only choices.... I would clearly choose Florence and become involved in the downtown area around the campus. Maybe open a competing bookstore for example. That's just me.
I have spent some time in both areas in the past and generally found Florence more comfortable an area with brighter prospects for future growth.
Good luck.