Cost of Living in Waldo, AL

With a cost of living index of 74, Waldo, AL is one of the most affordable cities in the country. Living here is 26% cheaper than the national average and in line with the Alabama state average. Waldo is a small community of 282 residents.

Housing costs are the biggest factor in Waldo's cost of living. The median monthly rent is $1,256 (5% below the US median of $1,319), and the median home value sits at $59,700 (80% below the national median of $304,900). At current prices, the median home costs roughly 1.8x the median household income — well within traditional affordability guidelines.

The median household income in Waldo is $33,125, which is 56% lower than the national median of $75,149. Residents spend roughly 46% of household income on rent. This is well above the 30% affordability threshold, indicating a significant housing cost burden for many residents. 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 Waldo. The area sees an average annual temperature of 62.3°F, with summers averaging 79°F and winters around 46°F. Annual rainfall totals 52.2 inches spread over roughly 116 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.