Market Overview
Home Prices in Cherokee, AL
The median home value in Cherokee, AL is $146,522 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's down 0.2% compared to a year ago and down 7.9% from two years prior.
Compared to the U.S. national median of $410,000, homes in Cherokee are priced64% below average. Cherokee is part of the Florence-Muscle Shoals, AL metro area.
Over the past five years, Cherokee home values have risen by approximately3.1%, reflecting modest growth in this market.
Price History
Cherokee Home Price Trend
City Comparison
Cherokee vs. National Median
At $146,522, homes in Cherokee cost 64% below the national median of $410,000. This makes Cherokee a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Cherokee?
20% Down Payment
$29,304
on $146,522
Monthly P&I
$764/mo
30-yr @ 6.8%
Total Monthly Est.
~$970/mo
incl. taxes & insurance
Income Needed
$38,800
gross annual (30% rule)
10% Down Option
$14,652
+ PMI applies
Loan Amount (20% dn)
$117,218
at current rates
Estimates assume a 30-year fixed mortgage at 6.8%. Monthly total includes estimated property taxes and homeowner's insurance. Actual costs vary.
FAQ
Frequently Asked Questions
What is the average home price in Cherokee, AL?
The median home value in Cherokee is $146,522 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's down 0.2% year-over-year.
How much have home prices changed in Cherokee?
Over the past year, home values in Cherokee have decreased by 0.2%. Over five years, prices have risen approximately 3.1%.
How much do I need to earn to buy a home in Cherokee?
To comfortably afford the median home price of $146,522 with a 20% down payment ($29,304) at today's rates (6.8%), you'd need a gross annual income of approximately $38,800. This assumes keeping total housing costs at or below 30% of gross income.
How does Cherokee compare to the national average home price?
The national median home value is approximately $410,000. At $146,522, homes in Cherokee are 64% below the national average.
What metro area is Cherokee part of?
Cherokee is part of the Florence-Muscle Shoals, AL metropolitan area. Home prices and market conditions can vary across the broader metro region.