Huntsville, Alabama is the third-largest city in the state. It sits in both Madison and Limestone Counties, and it is the county seat of Madison County. Currently, Huntsville is estimated to have around 197,350 residents. This makes it the 119th most populous city in the United States.
Today, the main industry in Huntsville is technology, as there are more than 25 biotechnology companies in town. Also, aerospace and military industries are well-developed and are significant for Huntsville’s economy. This is one of the reasons why this city’s nickname is The Rocket City. The top employers in Huntsville, Alabama are the U.S. Army, NASA, the Huntsville hospital, the Boeing Company, ADTRAN, Inc., Technicolor, and Toyota Motor Manufacturing Alabama.
In Huntsville, there are around 57.5% homeowners, according to the 2018 statistics. The median value of a home in this city is around $176,000. The median monthly mortgage is estimated to be around $900, while for an average rent you’d have to pay around $800 per month.
The median income in Huntsville is slightly above the U.S. average. The average income per person in Huntsville during 2018 was around $34,600, while the median household income in the same year was about $53,850.
As for the cost of living, the overall score has been 5% below the national average, and the city has also seen a 2.3% growth in the job market. Today, the unemployment rate is 3.1%.
If you are a Huntsville resident, and you want to take steps to be on top of your financial situation, you may benefit from taking out personal loans online in Huntsville, AL. Here is how.