Gulf Shores is a coastal city located in the southmost part of Alabama. Although a small city with around 12,000 people, their economy is thriving because of the 5 million tourists that visit Gulf Shores every year. The city of Gulf Shores Alabama is known for it’s beautiful white beaches that stretch for miles, a year-round climate that offers opportunities for beach-going all the time this seems like the perfect place for people who love coastline destinations.
The waters of Gulf de Mexico attract a lot of people who love engaging in different sports or activities such as fishing, boating, swimming, paddling and many more. Also, for anyone who prefers to remain on dry land, you have a couple of options. You can enjoy the local food that features fresh-caught fish and seafood or spend your day at the amusement park or waterpark. Overall this city is an amazing place and there are many things to do in Gulf Shores, AL.
With everything, the city of Gulf Shores has to offer it is important to know how much are the costs of living here? All the beauties and spoils of Gulf Shores come at a cost and it is particularly important if you decide to live here. So, how much does it cost to live in Gulf Shores, Alabama?
The median household income in Gulf Shore is around $50,000 overall and if we differentiate between owners and renters we get the following result. For people who own homes in Gulf Shores, AL we have an annual median household income estimated at $58,000 with a maximum of $1,400 expenses related to housing. Renters have a different median household income per year and it rounds up at about $37,000 with a maximum amount of $900 in expenses for housing.
Median property value in Gulf Shores, Al is around $251,000 and it is larger than the national average that is currently standing at around $226,000. In 2017 about 60% of the housing units were occupied by their owners. The median rent price stands at around $970 and given the fact that Gulf Shore is tourist-oriented, there are a lot of options in terms of rent. Studio apartments and one-bedroom apartments usually rent at the same price at around $780. Then we have two-bedroom apartments that rent for around $900, and three-bedroom apartments that rent for about $1,200.
As we can see, the most expensive part about living in Gulf Shores is housing, but not with much compared to the national average. Groceries, health, and utilities are approximately the same compared to the USA average, which makes Gulf Shores an affordable place to retire in.
If we have persuaded you in considering Gulf Shores, Alabama as a possible location where you would like to live then there is an easy way to buy a home here. Get in touch with one of our top real estate agents in Gulf Shores AL and they will help you with all the procedures and formalities of buying your dream home.