Steele, AL housing market
The typical Steele home is worth about $220,000, up 5.1% in a year, 9% below the Alabama typical home.
Home values, sales, trends and how Steele compares with the towns next door — updated as new data is published.
Steele at a glance
Only 1 sale in May 2026: in a market this size, monthly medians swing a lot, so the typical value above is the steadier guide.
Typical home value, 2016–2026
Show as a table
| January | Steele | Alabama |
|---|---|---|
| 2017 | $145,000 | $147,000 |
| 2018 | $145,000 | $152,000 |
| 2019 | $152,000 | $158,000 |
| 2020 | $168,000 | $170,000 |
| 2021 | $190,000 | $188,000 |
| 2022 | $206,000 | $215,000 |
| 2023 | $210,000 | $228,000 |
| 2024 | $204,000 | $233,000 |
| 2025 | $209,000 | $238,000 |
| 2026 | $213,000 | $239,000 |
| August 2026 | $220,000 | $242,000 |
Steele and its neighbors
| Town | Typical value | 1-yr change | 2-bed rent | New homes 2025 | Median income |
|---|---|---|---|---|---|
| Steele | $220K | +5.1% | $1,050 | — | $72,386 |
| Rainbow City | $254K | +3% | $1,110 | 20 | $56,398 |
3 years of income
The typical Steele home costs about 3 years of the town's median household income, less than across Alabama (3.8 years).
Home value ÷ ACS median household income.
Owners, rent & taxes
U.S. Census Bureau, ACS 2020-2024.
A two-bedroom rents for about $1,050
HUD's Fair Market Rent for a two-bedroom in Steele is $1,050 a month, utilities included: roughly what a modest, recently rented unit costs. Renters already in Steele pay a median of $739, so moving in tends to cost more than staying put. A two-bedroom takes about 17% of the town's median household income.
Studio $820 · 4 bedrooms $1,490
U.S. Department of Housing and Urban Development, FY2026 Fair Market Rents by ZIP code (35987; Birmingham-Hoover, AL HUD Metro FMR Area), weighted by land area. A Fair Market Rent is the 40th-percentile rent plus utilities for a standard unit. Median rent: U.S. Census Bureau, American Community Survey.
Home values: Zillow Home Value Index (ZHVI), Zillow Research, August 2026. Sales, days on market and supply: Redfin Data Center, May 2026. Income, ownership, taxes and rent: U.S. Census Bureau, American Community Survey. Fair Market Rents: U.S. Department of Housing and Urban Development. Listings link to their publishers.