Cost of Living in Glenwood, AL

With a cost of living index of 58, Glenwood, AL is one of the most affordable cities in the country. Living here is 42% cheaper than the national average and 16% below the Alabama state average of 74. Glenwood is a small community of 180 residents.

Housing costs are the biggest factor in Glenwood's cost of living. The median monthly rent is $766 (42% below the US median of $1,319), and the median home value sits at $40,000 (87% below the national median of $304,900). At current prices, the median home costs roughly 1x the median household income — well within traditional affordability guidelines.

The median household income in Glenwood is $40,114, which is 47% lower than the national median of $75,149. Residents spend roughly 23% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum. Lower incomes here are balanced by the significantly lower cost of living, stretching each dollar further.

Climate is another factor for anyone considering a move to Glenwood. The area sees an average annual temperature of 64.5°F, with summers averaging 79°F and winters around 50°F. Annual rainfall totals 54.6 inches spread over roughly 0 days. The mild climate is a draw for many residents and keeps utility costs moderate year-round.

Data sources: US Census Bureau (ACS 2023), Zillow Home Values, HUD Fair Market Rents, BEA Regional Price Parities, BLS Average Prices, and NOAA Climate Normals. Updated monthly.