Cost of Living in Silverhill, AL

With a cost of living index of 91, Silverhill, AL is slightly more affordable than average. Living here is 9% cheaper than the national average and 17% above the Alabama state average of 74. Silverhill is a small community of 929 residents.

Housing costs are the biggest factor in Silverhill's cost of living. The median monthly rent is $1,208 (8% below the US median of $1,319), and the median home value sits at $260,500 (15% below the national median of $304,900). At current prices, the median home costs roughly 4.3x the median household income — a moderately affordable ratio by today's standards.

The median household income in Silverhill is $61,081, which is 19% lower than the national median of $75,149. Residents spend roughly 24% 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 Silverhill. The area sees an average annual temperature of 66°F, with summers averaging 79°F and winters around 52°F. Annual rainfall totals 65.8 inches spread over roughly 0 days. The mild climate is a draw for many residents and keeps utility costs moderate year-round.

Everyday prices in the Daphne-Fairhope-Foley, AL (Metropolitan Statistical Area) metro area are generally below the national average. Out of 6 common items tracked by the Bureau of Labor Statistics, 6 are priced lower than the US average. These real-world prices — from groceries to electricity — add up and should be factored into any cost of living comparison.

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.