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City Report · AL

New Market

Pop. 1,314·12th most expensive in Alabama·Rental market data updated monthly for New Market, AL
Median rent (all units)
$1,814/mo
Year-over-Year
Stable
Month-over-Month
+4.3%
vs US Median
-$148
Rising (Monthly)
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Most AffordableMost Expensive
New Market · $1,814
More affordable than 53% of US cities · National median $1,962/mo
Affordability
35% of income
MODERATE
0%30% benchmark60%+

At $1,814/mo, rent takes about 35% of the local median household income, slightly above the 30% benchmark.

Income to afford
$73,000/yr
Local median income
$62,500/yr
Based on the 30%-of-income rule using New Market's median rent and household income. See the full affordability breakdown →
Medians by bedroom

Rent by unit size

Studio
$920
1 BR
$1,060
2 BR
$1,240
3 BR
$1,600
4 BR+
$1,950
Fair Market Rent (HUD)
$1,240/mo

These are HUD Fair Market Rents, the payment standard for a Housing Choice Voucher (Section 8). They often differ from the $1,814 market median above, and that is expected: FMR is the 40th percentile of standard-quality units and counts gross rent, so it includes essential utilities such as electricity, water, gas, sewer, and trash. The market median is asking rent, which usually excludes utilities. HUD sets FMR once a year; market rent here updates monthly.

Source: HUD Small Area Fair Market Rents. Read the methodology →

Rent trends

12-month history

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Last updated: August 17, 2026

Annual cost
$21,768/yr
At $1,814/mo median
Rent Market Meter
Strong Landlord's Market
Renter's MarketBalancedLandlord's Market
Rents are up 0.0% year-over-year. Expect competition, and move quickly to lock in terms.
Based on rent-price momentum (+0.0% YoY, +4.3% MoM), not inventory.
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Demographics

Who lives here

New Market, AL is majority owner-occupied, has a large share of families with children, has a median income below the national average, 23.8% of residents hold a bachelor's degree or higher.

Population
1,314
Median income
$62,500
Median age
38.3
Renters
13.1%
Age distribution
25.4%
15.2%
37.7%
15.2%
Under 1825.4%
18–3415.2%
35–5437.7%
55–6415.2%
65+6.5%
Gender
48.7%
51.3%
Male48.7%
Female51.3%
Race & ethnicity
77.1%
16.7%
White77.1%
Black16.7%
Hispanic6.8%
Asian2.4%
Education (25+)
37.8%
28.5%
23.8%
No HS diploma9.9%
HS diploma37.8%
Some college28.5%
Bachelor's+23.8%
Housing tenure
86.9%
13.1%
Owner86.9%
Renter13.1%

Source: U.S. Census Bureau · ACS 2024 5-Year Estimates

2021 vs 2026

How New Market, AL has changed in 5 years

Income
$45,365 → $62,500
up 37.8%
Population
1,006 → 1,314
up 30.6%
Renter share
23.2% → 13.1%
-10.1 pts
Bachelor's+
24.4% → 23.8%
-0.6 pts
Median age
39.1 → 38.3
-0.8 yrs

On the earnings side, the typical household in New Market, AL now reports about $62,500, up from $45,365 in 2021. The population has grown by 30.6% since 2021, moving from about 1,006 residents to roughly 1,314. Renters now make up 13.1% of households, compared with 23.2% five years ago.

Community

Discussions about New Market

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View New Market rent history (2015–2026) →
Salary vs rent

Can you afford rent in New Market on your salary?

At $1,814/mo, how New Market rent compares to typical pay (30% rule).

By apartment size

New Market rent by bedroom count

Median rent for each apartment size in New Market. Click any size for full breakdown.

Local insights

Tips for renters in New Market

About renting in New Market, AL

Last updated: August 17, 2026

The median rent in New Market is $1,814/mo as of August 2026. A studio apartment averages $920/mo while a 2-bedroom runs $1,240/mo. One-bedroom apartments average $1,060/mo and 3-bedroom units go for $1,600/mo.

At 35% of local median household income ($62,500/yr), New Market ranks as moderate compared to the national benchmark of 30%. Rent prices have stayed steady over the past year.

FAQ

Frequently asked questions

Is New Market an affordable city for renters?

New Market is considered moderate for renters. At $1,814/mo, rent takes approximately 35% of the local median household income ($62,500/yr). The standard benchmark is 30%. New Market slightly exceeds that threshold, so budgeting carefully matters here.

How much income do you need to rent in New Market?

To keep rent at or below 30% of gross income, you would need to earn at least $73,000/year (~$35/hour full-time) to afford the median rent of $1,814/mo in New Market. The local median household income is $62,500/yr, meaning the typical New Market household falls short of that threshold.

Is rent going up or down in New Market?

Rent in New Market has been relatively stable over the past year, with a 0.0% change year over year as of August 2026.

How does New Market rent compare to other cities in Alabama?

New Market is one of the pricier cities in Alabama for rent, ranking #12 out of 70 tracked cities at $1,814/mo.

Which nearby cities are cheaper to rent in than New Market?

Several nearby cities have lower median rents than New Market ($1,814/mo): Huntsville ($1,319/mo), Hazel Green ($1,633/mo), Owens Cross Roads ($1,787/mo).

What percentage of New Market residents rent vs. own?

According to Census data, approximately 13.1% of New Market households are renters, while 86.9% are owner-occupied. New Market leans toward homeownership, which can mean a smaller rental inventory.

How does New Market rent compare to the national average?

New Market's median rent of $1,814/mo is $148 (8%) below the US national median of $1,962/mo. Within Alabama, it ranks #12 out of 70 tracked cities.
Income Affordability
35%
MODERATE

At $1,814/mo, rent takes ~35% of New Market's median household income ($62,500/yr). The standard benchmark is 30%.

New Market 35%Benchmark 30%
State income tax2–5%
Run the New Market affordability calculator →
Lowest-rent ZIP codes in New Market
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Neighborhoods

Estimated from ZIP-level data

Schools nearby

Public schools near New Market, AL

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