Cost of Living in Powell, AL

With a cost of living index of 64, Powell, AL is one of the most affordable cities in the country. Living here is 36% cheaper than the national average and 10% below the Alabama state average of 74. Powell is a small community of 911 residents.

Housing costs are the biggest factor in Powell's cost of living. The median monthly rent is $736 (44% below the US median of $1,319), and the median home value sits at $120,800 (60% below the national median of $304,900). At current prices, the median home costs roughly 1.9x the median household income — well within traditional affordability guidelines.

The median household income in Powell is $62,868, which is 16% lower than the national median of $75,149. Residents spend roughly 14% 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 Powell. The area sees an average annual temperature of 59.9°F, with summers averaging 77°F and winters around 43°F. Annual rainfall totals 55.1 inches spread over roughly 120 days.

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.