Much like nearby areas, it is substantially less expensive compared to the nation as a whole. It's close to average compared to the city of Birmingham.
Home prices
The price of the median home in Fayette is $86,600. Compared to its nearby areas this is about $2,260 (2%) lower.It is roughly $130,900 (60%) lower in comparison to the nation as a whole, and compared to the city of Birmingham is approximately $4,500 (4%) lower.
Rents
The median rent in Fayette is $512 a month. It is approximately $72 (16%) higher in comparison to the surrounding areas.Compared to the rest of the nation it is about $550 (51%) lower, and in comparison to the city of Birmingham is roughly $325 (38%) lower.
Nearby places
Kennedy
Kennedy is roughly 11 miles southwest of Fayette. The real estate prices there are similar. The median home value in Kennedy is $89,300, which comes out to $2,700 (3%) higher than Fayette. Its rents are significantly less expensive. In Kennedy the median rent is $260 per month, which comes out to $252 (96%) lower than Fayette.
Berry
Berry is about 11 miles east of Fayette. Its real estate prices are fairly similar. The median home in Berry costs $90,800, which works out to $4,200 (4%) higher than Fayette. Its rents are substantially less expensive. Berry's median rent is $271 per month, which comes out to $241 (88%) lower than Fayette.
Vernon
Vernon is about 15 miles west from Fayette. The real estate prices there are somewhat more expensive. The median home price in Vernon is $101,300, which works out to $14,700 (14%) higher than Fayette. Rent there is significantly less expensive. Vernon's median monthly rent is $381, which is $131 (34%) lower than Fayette.
Glen Allen
Glen Allen is roughly 15 miles north from Fayette. Its housing prices are a little more expensive. The median home cost in Glen Allen is $100,000, which works out to $13,400 (13%) higher than Fayette. Its rents are substantially more expensive. In Glen Allen the median monthly rent is $837, which is $325 (38%) higher than Fayette.
Millport
Millport is approximately 16 miles southwest from Fayette. Housing prices there are a lot less expensive. The median home in Millport is valued at $62,900, which comes out to $23,700 (37%) lower than Fayette. The rent there is a little less expensive. In Millport the median rent is $451 per month, which is $61 (13%) lower than Fayette.
