Huntsville Is Ranked Low for Cost of Living (real estate, mortgages)

[A&M Bulldawg]

Tidah! Huntsville is one of the lowest places to live in the country. Groceries, healthcare, hosuing, and other things in Huntsville are among the lowest in the country compared to other cities, such as Atlanta and Wahington, DC.

Huntsville Alabama USA - ACCRA Cost of Living Index

[Charles]

Originally Posted by KE111691

Tidah! Huntsville is one of the lowest places to live in the country. Groceries, healthcare, hosuing, and other things in Huntsville are among the lowest in the country compared to other cities, such as Atlanta and Wahington, DC.

Huntsville Alabama USA - ACCRA Cost of Living Index

A lot of us knew that before we moved here and that is one reason we moved here. Lots of places are cheap but not many are cheap and have good income producing jobs.

Huntsville has like one of the best ratios of median incomes to median house prices. It's not perfect but just in the past six months, it's value has risen considerably as it seems everywhere else has (is) taken (taking) such a brutal hit.

Still, even working in Huntsville where there are quite a few replacement jobs for me if I were to lose my job, I am still quite nervous about the overall economy. I keep reading business news stories back home in LA about how so many people are severely underwater on their mortgages. It is nauseating. I can't imagine it getting that bad here.

Even City-Data forum seems to have be less active in the past several months - and not just because it is the off season for relocating (relocatees being a big part of City-Data posters). The economy is so bad no one is moving - less people are asking questions on City-Data.

[A&M Bulldawg]

Yeah, you are right. Maybe this thread can give people who are struggling some sense hope, meaning that information posted in this thread can provide some valuable inofrmation for those individuals who have been laid off and want to move some place else to find a job and housing.

http://www.ded.mo.gov/researchandpla...ving/index.stm

[Charles]

People in the high cost states will argue that the reason their states are expensive is because of supply and demand; the demand to live there drives up the costs. Places are cheap for a reason.

[A&M Bulldawg]

Charles, you are so intelligent!!!!! Sorry to be a pest, but why is Huntsville is inexpensive?

[southernnaturelover]

I don't live in Huntsville, but in my area I haven't really noticed a drop in home values like I hear about on the news. It's pretty obvious they are not selling fast, but when I look through the real estate magazines they seem to be priced about the same as they have been the last few years. I guess it's possible the final price could be dropped behind closed doors, but I haven't seen a reduction in listing prices.

[HB2HSV]

Originally Posted by KE111691

Charles, you are so intelligent!!!!!

Oh please... my computer screen is not big enough for Charles' head

[Charles]

Originally Posted by KE111691

Charles, you are so intelligent!!!!! Sorry to be a pest, but why is Huntsville is inexpensive?

Maybe it isn't as inexpensive as those bubble places are expensive. A most common gauge of relative housing expense is ratio of median incomes to median housing prices. Normal housing prices are maybe 3 to 4 times median income. In California between 1997-2000 numbers were like 4 and 5, high, but not too far out. In 2007 those numbers in LA County got to around 9.75. That is the bubble everyone was talking about.

So, Why is Huntsville inexpensive? It isn't compared to other places but since it isn't abnormally priced (it is within income ratios) and there are lots of good jobs here it stands out as having good housing to income numbers. Ultimately it comes down to supply and demand.

[HB2HSV]

Originally Posted by Charles

So, Why is Huntsville inexpensive? It isn't compared to other places but since it isn't abnormally priced (it is within income ratios) and there are lots of good jobs here it stands out as having good housing to income numbers. Ultimately it comes down to supply and demand.

Huntsville is not inexpensive compare to some 'major' cities, esp. those in Texas, i.e., Austin, Dallas, and Houston. Its housing is only slightly less than Orlando, Tampa and Pheonix.

What makes Huntsville unique for many of us is that it is an insulated 'bubble' from the national econmy because of the job based here is unlike the average in the rest of country. The Army & NASA has created a little oasis here in Northern Alabama where they offers good middle class salaries for a relatively affordable region. Contractors followed and establish local offices here to support their 'customers'. The local economy is strongly related to its military & NASA fundings. This is an unique situation (a protective 'bubble').

In today's econmy, this is a good situation for those of us who're in this industry. But the home prices will not appreciate like bigger cities for the same reason. It lacks the 'demand' from other industry labors, hence the good news of continuing being 'affordable'.

The bad news is, when you retire you can not afford to move anywhere else because other places housing is more expensive than where you are.

[caution]

Originally Posted by HB2HSV

Huntsville is not inexpensive compare to some 'major' cities, esp. those in Texas, i.e., Austin, Dallas, and Houston. Its housing is only slightly less than Orlando, Tampa and Pheonix.
.

Disagree, having lived in Houston, owned a home there, and having a kid at UT.

TX has wins on paper, but you lose lots of time in the car, and cities that big are prone to hard hits.