Home Values in Phenix City, Alabama — 2026 Market Report
Updated March 2026 | Balanced Market | +2.6% YoY
The median home value in Phenix City, Alabama is $175,000 as of March 2026, which is below the national median of $400,000. Home values in Phenix City have increased by 2.6% over the past year and 13.7% over the last five years. With a population of 38,816 and a median household income of $42,250, the price-to-income ratio stands at 4.1x, making Phenix City affordable for the average household.
Phenix City Housing Market Conditions
| Metric | Phenix City | National Avg |
|---|---|---|
| Median Home Value | $175,000 | $400,000 |
| YoY Appreciation | +2.6% | +3.8% |
| 5-Year Appreciation | +13.7% | +22.4% |
| Price per Sq Ft | $54 | $222 |
| Days on Market | 62 days | 45 days |
| Months of Supply | 4.3 | 3.5 |
| List-to-Sale Ratio | 99.3% | 98.5% |
| Monthly Homes Sold | 24 | — |
| Foreclosure Rate | 0.59% | 0.3% |
Home Value Trends in Phenix City
A homeowner who purchased at the median price of $153,914 five years ago in Phenix City would have gained approximately $21,086 in equity, representing a 13.7% return on investment. Over the past year alone, the typical homeowner gained $4,435 in home equity.
Affordability in Phenix City, AL
With a median household income of $42,250 and a median home price of $175,000, the price-to-income ratio in Phenix City is 4.1x. A ratio below 3x is generally considered affordable, while above 5x indicates significant affordability challenges. The average monthly rent of $989 compared to estimated monthly ownership costs of $891 gives a rent-vs-buy ratio of 0.90. In Phenix City, buying is currently competitive with renting when factoring in equity accumulation.
Property Taxes in Phenix City
The effective property tax rate in Alabama is 0.41%. On a home valued at $175,000, the estimated annual property tax bill is $718, or approximately $60/month. Property taxes are an important factor in the total cost of homeownership and can significantly impact affordability. The cost of living index in Phenix City is 82.5 (100 = national average), indicating living costs are below the national average.
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Open Mortgage CalculatorFrequently Asked Questions
What is the median home value in Phenix City, AL?
The median home value in Phenix City, Alabama is $175,000 as of March 2026. Home values have changed +2.6% over the past year, with a 5-year appreciation of 13.7%.
Is Phenix City a buyer's or seller's market?
Phenix City is currently a balanced market with 4.3 months of housing supply. Homes spend an average of 62 days on market, and the list-to-sale price ratio is 99.3%. Supply and demand are relatively balanced.
Are home values going up in Phenix City?
Yes, home values in Phenix City have increased by 2.6% over the past year. The 5-year appreciation rate is 13.7%, meaning a home worth $153,914 five years ago is now worth $175,000.
Is it better to rent or buy in Phenix City?
The average monthly rent in Phenix City is $989, while estimated monthly homeownership costs are approximately $891. The price-to-rent ratio is 14.7. Based on current conditions, buying may be more cost-effective than renting in this market.
Home Values in Other Alabama Cities
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Disclaimer: Home value data for Phenix City, Alabama is based on publicly available market data and estimates. Actual home values may vary based on property condition, location within the city, and current market conditions. Data is updated regularly but may not reflect the most recent transactions. Last updated: March 2026.