Falkville Division AL Demographic Data and Boundary Map
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Falkville Division, AL
The Falkville Division is a County Subdivision of Morgan County.
The subdivision has a Z5 Census Class Code which indicates that the Falkville Division is a statistical county subdivision.
Falkville Division Data & Demographics (As of July 1, 2024)
POPULATION
Total Population
5,808 (100%)
Population in Households
5,488 (94.5%)
Population in Families
4,627 (79.7%)
Population in Group Quarters1
320 ( 5.5%)
Population Density
71
Diversity Index2
20
INCOME
Median Household Income
$66,891
Average Household Income
$82,772
% of Income for Mortgage4
24%
Per Capita Income
$31,149
Wealth Index5
68
HOUSING
Total HU (Housing Units)
2,373 (100%)
Owner Occupied HU
1,744 (73.5%)
Renter Occupied HU
436 (18.4%)
Vacant Housing Units
193 ( 8.1%)
Median Home Value
$256,250
Average Home Value
$288,432
Housing Affordability Index3
111
HOUSEHOLDS
Total Households
2,180
Average Household Size
2.52000000000
Family Households
1,516
Average Family Size
3
NOTES
Group Quarters - a place where people live or stay in a group living arrangement. Includes college residents halls, nursing facilities, military barracks, and correctional facilities.
The Diversity Index is a scale of 0 to 100 that represents the likelihood that two persons, chosen at random from the same area, belong to different races or ethnic groups. If an area's entire population belongs to one race AND one ethnic group, then the area has zero diversity. An area's diversity index increases to 100 when the population is evenly divided into two or more race/ethnic groups.
The Housing Affordability Index base is 100 and represents a balance point where a resident with a median household income can normally qualify to purchase a median price home. Values above 100 indicate increased affordability, while values below 100 indicate decreased affordability.
The % of Income for Mortgage quantifies the percentage of median household income dedicated to mortgage payments on a home priced at the median value (assuming a 30-year mortgage and a 20% down payment).
The Wealth Index is based on a number of indicators of affluence including average household income and average net worth, but it also includes the value of material possessions and resources. It represents the wealth of the area relative to the national level. Values above or below 100 represent above-average wealth or below-average wealth compared to the national level.
