Homeownership on a single income is challenging but possible in affordable states like Alabama, which ranks No. 8 for one-income earners. With a median home price of $340,000 and a monthly mortgage payment of $1,775, single buyers can find good value. A salary of $85,280 allows for comfortable living under the 50/30/20 budget rule, in contrast to coastal areas where salaries must exceed $100,000. Solo buyers prioritize practicality, seeking smaller homes while maintaining financial responsibility and quality living.
Owning a home on one income may be feasible in affordable states in the Midwest and the South. Alabama checks both boxes—and continues to draw interest from buyers looking for value and stability.
A single person needs to earn about $85,280 per year to live comfortably in the state—covering essentials, discretionary spending, and savings under the 50/30/20 budgeting rule.
They do want something smaller. The single person that's buying homes right now seems to be pretty responsible as far as their finances go.
Alabama offers solo buyers an opportunity to own property, live comfortably, and plan for the future without the budget strain seen in higher-cost markets.
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