Selma, AL—36701
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Selma, AL
As of Oct '25, the median home price in Selma, AL is $93,000, with a year-over-year change of -8.1%. This indicates that home prices in Selma, AL are decreasing. According to Zillow, the 1-year price projection is -4.3%, suggesting a decrease housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $93,000 | -8.1% |
| Single Family | $93,000 | -7.9% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | N/A | N/A |
3 Bed | $134,000 | 0.0% |
4 Bed | $194,000 | -2.0% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Selma, AL
As of July '25, Rentcast reports the average rent in Selma, AL is $852, with a year-over-year rent change of -40.8%. Per bedroom, the median rent as of July '25 in Selma, AL is 1-bedrooms: $625, 2-bedrooms: $966, 3-bedrooms: $799, 4-bedrooms: $2,000. The most common rental property sizes in Selma, AL are 2-bedroom and 3-bedroom, accounting for 44.1% and 34.1% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $799 | $852 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $550 | $625 |
| 2 Bed Rent | $699 | $966 |
| 3 Bed Rent | $799 | $799 |
| 4 Bed Rent | $2,000 | $2,000 |
% of Rental Stock
Property Listings — Selma, AL
As of Oct '25, Realtor.com reports that the median days on market for a home in Selma, AL is 106. This is a increase of 13.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 9.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $164,000 | 35.0% |
Listing Count | 87 | 9.0% |
| Listings as % of Homes | 0.5% | 9.0% |
Days on Market | 106 | 13.0% |
Demographics — Selma, AL
As of the latest ACS Survey released in 2023, Selma, AL has a population of 22,400, which has increased by 5.0% over the past 5 years. Selma, AL is a moderately popular place for families, as children make up 24.8% of the population. The area has a poorly educated workforce, with 20.9% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 4.2% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 22,400 | 5.0% |
% Under 18 | 24.8% | -0.8% |
% Seniors | 17.8% | 1.1% |
% WFH | 4.2% | 133.3% |
% w/ College Degree | 20.9% | 14.2% |
As of the latest ACS Survey released in 2023, Selma, AL is a predominantly black area, with 69.4% of the population identifying as black. The black population has grown by 4.5% in the last 5 years. The second most common race or ethnicity in Selma, AL is white, making up 28.1% of the population. Foreign-born residents account for 2.2% of the population in Selma, AL, and this percentage has increased by 37.5% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 28.1% | -10.5% |
% Black | 69.4% | 4.5% |
% Hispanic | 1.5% | 36.4% |
% Asian | 0.8% | -11.1% |
% Foreign Born | 2.2% | 37.5% |
Mortgage and Risk — Selma, AL
According to HUD data as of 2023, there were 143 mortgage originations in Selma, AL, of which 61.0% of loans were conventional mortgages. The average loan-to-value was 74.0%, with 39.0% above 90% LTV (very high). This implies large mortgage risk in Selma, AL. Investor activity is low, as 11.0% of loans were by investors. 13.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 143 |
% Conventional Loans | 61.0% |
% Government Loans | 39.0% |
% Investor Loans | 11.0% |
% Second Loans | 3.0% |
% Cash Out Refinance | 13.0% |
Loan Activity
Rentals and Section 8 — Selma, AL
As of 2024, the percent of homes in Selma, AL under the Section 8 program is 27.1%. This is considered high, suggesting that the neighborhood is heavily composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 1-bedroom and 2-bedroom and 3-bedroom units appear to be good home sizes to consider for Section 8 housing in Selma, AL, because HUD payments exceed market rent, while 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 1,368 |
Total Units Section 8 | 904 |
% Rentals under Section 8 | 27.1% |
% Occupied Section 8 | 73.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $280 | $550 | $830 |
| 2 Bedroom | $291 | $699 | $990 |
| 3 Bedroom | $451 | $799 | $1,250 |
| 4 Bedroom | -$420 | $2,000 | $1,580 |
Affordability — Selma, AL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.6 |
| Median Home Price | $93,000 |
| Median Household Income | $40,500 |