New Market, AL
Population 1,296 · Alabama
About New Market, AL
New Market is a small town located in Alabama with a population of 1,296 residents according to the latest US Census Bureau American Community Survey data. The median household income is $71,083 per year, which is 5% below the national median of $75,149. The median age of 37.7 years is close to the US median age of 38.9 years.
Housing Market Overview
The housing market in New Market features a median home value of $113,400, which is 54% below the national median of $244,900. This makes New Market one of the more affordable markets in the country, potentially attractive for first-time homebuyers. Median monthly rent is $967, 17% below the national average of $1,163/month. Of the 597 total housing units, 80% are owner-occupied (442 units) and 20% are renter-occupied (111 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in New Market shows an unemployment rate of 1.3%, which is lower than the national rate of 3.7%, indicating a relatively strong job market. The poverty rate stands at 6.4%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in New Market have an average one-way commute time of 28.4 minutes.
Education & Demographics
19.0% of New Market residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The lower educational attainment rate may reflect the area's industry mix, with more employment in trades, manufacturing, or agricultural sectors. The community's demographic composition includes 4.1% White, 3.2% Hispanic or Latino, 0.0% Black or African American, and 2.9% Asian residents, with 5.6% of the population being foreign-born.
How New Market Ranks in Alabama
Cost of Living in New Market, AL
Compared to national averages, New Market has a median household income of $71,083 (5% below the national median of $75,149). Home values average $113,400, which is 54% below the national median. Monthly rent at $967 is 17% below the US average of $1,163. Within Alabama, New Market's income is 23% above the state average of $57,952, and home values are 29% below the state median of $159,358.
Why Live in New Market, AL?
New Market offers affordable housing with a median home value of $113,400, below the US average of $244,900, and rent that’s lower than the national average at $967/month, and a strong job market with an unemployment rate of just 1.3%. Additionally, the city features a low poverty rate of 6.4%, better than the national average.
Potential considerations include median household income ($71,083) that falls below the national average. However, New Market’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
New Market has a population of 1,296 with a median age of 37.7 years. Compare New Market with other cities to see how it stacks up, or explore all cities in Alabama.
Similar Cities Near New Market
Cities in Alabama with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Steele | 1,293 | $70,000 | $101,700 | Compare |
| Woodstock | 1,282 | $71,154 | $190,700 | Compare |
| Locust Fork | 1,312 | $42,045 | $169,600 | Compare |
| Rock Creek | 1,313 | $80,063 | $156,900 | Compare |
| Magnolia Springs | 1,278 | $93,000 | $399,100 | Compare |
| Bear Creek | 1,317 | $36,250 | $95,300 | Compare |
| West Blocton | 1,320 | $37,537 | $107,400 | Compare |
| Susan Moore | 1,323 | $81,875 | $117,600 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Alabama
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
Compare New Market With Other Cities
Frequently Asked Questions about New Market
What is the population of New Market, AL?
The population of New Market, AL is 1,296 according to the latest US Census Bureau American Community Survey estimates. This makes it a small town in Alabama.
What is the median household income in New Market?
The median household income in New Market, AL is $71,083 per year, which is 5% below the national median of $75,149.
What is the median home value in New Market?
The median home value in New Market, AL is $113,400, which is 54% below the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in New Market?
The median monthly rent in New Market, AL is $967, which is 17% below the national average of $1,163/month.
What is the unemployment rate in New Market?
The unemployment rate in New Market, AL is 1.3%, compared to the national average of 3.7%. This lower-than-average rate suggests a relatively healthy local job market.
Is New Market, AL a good place to live?
New Market offers a moderate cost of living, affordable housing, and a strong job market. With a population of 1,296 and a median age of 37.7, the city appeals to a broad range of residents.
How educated is New Market, AL?
19.0% of residents in New Market aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The educational profile reflects the area's industry mix and employment landscape.
What is the cost of living in New Market?
Key cost-of-living indicators for New Market, AL: median home value is $113,400 (54% below national), median rent is $967/month, and median household income is $71,083. The home-value-to-income ratio is 1.6x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in New Market?
The poverty rate in New Market, AL is 6.4%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is New Market, AL?
New Market's population is 4.1% White, 3.2% Hispanic or Latino, 0.0% Black or African American, 2.9% Asian, and 10.2% two or more races. 5.6% of residents are foreign-born.