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Fayette

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

Median Home$129,876
Median Rent$720/month
Population4,279
Leading IndustryRetail22% of local workforce
Home Value Growth+2.7% over 2 years
Retirees22% of residentsnear the national average
Homeowners71% of occupied units
NotableTransit83/100 · excellent transit access
NotableAffordable Market$130k median home · lower cost than 81% of the country
Fayette
AL

Frequently Asked Questions

What are today's mortgage rates in Fayette?

As of today, the 30-year fixed mortgage rate for Fayette is approximately 6.978% (7.017% 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 Fayette?

The median home value in Fayette is $130k. The median monthly rent is $720. Annual property taxes average $380. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in Fayette?

Home values in Fayette have increased 2.7% over the past two years. The market has been relatively stable. 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 Fayette?

Based on a typical all-in ownership cost of $614/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $26k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in Fayette is $45k/year.

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What industries drive the economy in Fayette?

The largest employment sectors in Fayette are retail (22%) and public administration (22%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.