The story of this market
The typical home in ZIP 35115 sells for about $290,000, or $176 per square foot.
Prices are up +20.1% from a year ago, so sellers still have some momentum. Homes take about 48 days to sell. HUD's fair market rent for a two-bedroom is $882 a month.
ZIP 35115
The Montevallo housing market shows steady price appreciation, with a median sale price of $290K reflecting a 20.1% year-over-year increase. While the market remains affordable compared to the broader region, the inventory is relatively tight, and buyers are seeing a competitive environment for well-maintained properties. The presence of the university continues to provide a stable economic floor for both the sales and rental sectors.
This ZIP is well-suited for families seeking a quiet, small-town environment and university-affiliated professionals, though investors should be cautious of localized market volatility.
Median prices moved up 20.1% year over year.
Homes spend a median of 48 days on market with 4.2 months of supply — a fast-moving market.
18% of listings have cut prices · homes sell at 97.5% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 5.9% · poverty 17.5% — a mixed stability profile.
Researched annual trajectory for this ZIP, from published historical series
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 8.0%/yr trend — a deterministic estimate, not a published forecast or guarantee.
Median annual property tax paid on this ZIP's residential parcels
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 5.9%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
net influx — more people moved in than out
ZCTA 35115, Shelby County AL
ACS 2024 5-year estimates. Aggregate published statistics for this ZIP — never individual records, and never an attribute of any individual property or resident.
Crime rates in Montevallo are generally consistent with regional averages for small college towns in Alabama, with property crime being the primary concern.
The area is served by the Shelby County School District, which generally maintains moderate to high performance ratings for its primary and secondary schools.
The region faces standard risks for central Alabama, including seasonal severe thunderstorm and tornado activity, with flood risk concentrated near local creek beds.
Economic momentum is anchored by the University of Montevallo, which serves as a major employer and driver of local infrastructure and cultural development.
Composed from the ARED governance burden registry — tier-native tax structure (state + county + city + special districts), never averaged. State (Alabama) — Current Use Valuation: Allows property to be taxed based on its current use value rather than fair market value, potentially reducing the tax burden. Conversion to a non-qualified use triggers revaluation and potential back-tax liability. State (Alabama) — Class III Residential Property Tax Assessment: Property is assessed at 10% of its fair market value. The tax liability is calculated by multiplying the assessed value by the local millage rate. A standard homestead exemption applies to the 6.5 mill statewide property tax on the first $4,000 of assessed valuation. State (Alabama) — Class 3 Residential Property Tax Assessment: Residential property is classified as Class 3 and assessed at 10 percent of its fair market value. A standard homestead exemption applies to the 6.5 mill statewide property tax on the first $4,000 of assessed valuation. State (Alabama) — Standard State Ad Valorem Homestead Exemption: Exempts up to $4,000 in assessed valuation from the 6.5 mill state ad valorem tax levy (providing a maximum direct state tax reduction of $26.00). Formula: Adjusted State Tax = Max(0, (Assessed Value - $4,000)) × 0.0065. State (Alabama) — Statewide Ad Valorem Property Tax and Class III Residential Assessment Ratio: Establishes a baseline 6.5 statewide millage rate ($0.0065 per dollar of assessed value) under Ala.
Residents primarily commute by car, with Highway 25 and Highway 119 serving as the main corridors connecting the area to the Birmingham employment core.
The area features access to Orr Park, which includes walking trails and historic stone carvings, alongside proximity to the Cahaba River for outdoor activities.
The rental market is influenced by the university student population, leading to steady demand and moderate vacancy pressure for multi-family and single-family rentals.
The local economy is heavily supported by the University of Montevallo and a mix of small-scale retail and service-sector businesses.
Transportation is almost exclusively automobile-dependent, with limited public transit options available for regional commuting.
Development is currently focused on small-scale residential infill and downtown commercial improvements.
The Shelby County Tax Assessor manages property valuations, typically reassessing parcels on a multi-year cycle to reflect market changes.
Parcels are subject to Shelby County school and general municipal tax districts.
Property insurance premiums are rising due to regional exposure to severe weather events, consistent with broader Alabama market trends.
Data retrieved from US Census Bureau ZCTA-level tables.
Public schools whose reported address is in this area (NCES). Not attendance boundaries — schools that serve residents may sit outside it. Check the district's address locator for assignment.
Features extensive walking trails and unique stone carvings along the creek.
Anchor institution providing cultural events and regional employment.
Provides open green space and community event facilities.
Key-figure check: median price corroborated by the prior refresh cycle (within 12.5%).