Fort Payne, Alabama, is the county seat of DeKalb County. In 2010, it had a total population of 14,012. The town was originally called Willstown and was the location of several small battles during the Civil War. Later, the town incorporated as Fort Payne in 1889. The addition of a rail line that connected Fort Payne to both Birmingham and Chattanooga increased the town's expansion, and Fort Payne now hosts a booming economy, with numerous restaurants and shopping districts.
Fort Payne, AL is a great place for affordable rent-to-own homes! With a median household income of over $42,200 and a median rent of $592, the Fort Payne, AL rent-to-own market is more affordable than the traditional housing market which has shown tremendous growth across the U.S. and with it, aggressive competition for home purchases. With the current housing shortage trend it can make it harder to become a homeowner, including in Fort Payne, AL. This means higher than average down payments for homes and higher qualification standards for conventional home loans. With a rent-to-own property, tenants are also buyers. You can live in the house for a set amount of time before you purchase it, meaning that you get to know the house, your neighbors, and your community before making the final purchase. This enables you and your family to make the right choice based on both information and experience. Rent-to-own is also a great alternative way to get into a home if you have bad credit or don't have enough saved for a down payment.
Fort Payne, AL is seeing rapid growth and Fort Payne, AL's' housing market remains optimal with an average home price that is -40% below the 2022 national average. Fort Payne, AL is part of DeKalb county and taxes are an important factor to consider when purchasing a home whether through rent to own or a traditional purchase. The average tax rate as of 2022 for county DeKalb is 0.32% which is below the national average, which is 0.99%.
Fort Payne, AL has a walk score of
Fort Payne, AL has a bike score of
The state tax rate is 2.0 to 5.0% on top of the federal tax rate of 10 to 37%.