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Broomtown

Learn about the people, housing, costs and businesses in Broomtown, Alabama

Median Home$110,700
Median Rent$1,264/month
Population163
Leading IndustriesEducation · Wholesale Trade · Transportation3% education
Home Value Growth⬆⬆⬆+27.0% over 2 years
Young Adults26% of residents
Homeowners88% of occupied units
NotableVeteran Community10% of residents · top 14% nationally
Broomtown
AL

Frequently Asked Questions

What are today's mortgage rates in Broomtown?

As of today, the 30-year fixed mortgage rate for Broomtown is approximately 6.872% (6.907% APR). Rates vary based on your credit score, loan type, down payment, and other factors. Safe Rate updates rates daily using live investor pricing.

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What is the median home price in Broomtown?

The median home value in Broomtown is $111k. The median monthly rent is $1,264. Annual property taxes average $477. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in Broomtown?

Home values in Broomtown have increased 27.0% over the past two years. This indicates a strong appreciation trend. This data is sourced from the Federal Housing Finance Agency (FHFA) House Price Index.

How much income do you need to buy a home in Broomtown?

Based on a typical all-in ownership cost of $480/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $21k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in Broomtown is $45k/year.

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What industries drive the economy in Broomtown?

The largest employment sectors in Broomtown are public administration (23%) and retail (15%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.