In Highland Lakes, a typical home is worth $599,200. Compared with all of Shelby County, the typical home value is 84% higher, typical household income is 73% higher, and the share of households that own their home is 15 points higher.
Highland Lakes is in Shelby County. The FHA loan limit ($541,287 for a one-unit home), the fair market rents and the help on this page are those of all of Shelby County. See the county
What this place has that others do not, from public data, most unusual first.
1
Highland Lakes has the highest homeownership rate of the 120 cities in Alabama with more than 5,000 people: 97%.
2
Highland Lakes has the 2nd highest typical household income of the 120 cities in Alabama with more than 5,000 people ($169,361).
3
Highland Lakes has the 2nd highest typical home value of the 120 cities in Alabama with more than 5,000 people ($599,200).
4
Nearby, in Pelham, the typical home value is $299,800: 50% less than in Highland Lakes ($599,200).
Sources: U.S. Census Bureau (Average 2020–2024).
The homes here
Housing in Highland Lakes
What homes there are in Highland Lakes, what they cost, how that changed and how people live, from Census figures (2020–2024).
What homes there are
U.S. Census Bureau, ACS 5-year, 2020–2024
Kind of home
Detached houseAttached houseBuilding of 2 to 4Apartments (5 or more)Mobile homeBoat, RV and otherUnreliable estimate
Highland Lakes
Shelby County
Alabama
United States
Kind of home: Highland Lakes and its comparisons
Measure
Highland Lakes
Shelby County
Alabama
United States
Detached house
99%
77%
69%
61%
Attached house
Unreliable estimate
5%
2%
6%
Building of 2 to 4
Unreliable estimate
2%
5%
8%
Apartments (5 or more)
Unreliable estimate
9%
12%
19%
Mobile home
Unreliable estimate
7%
12%
6%
Boat, RV and other
Unreliable estimate
0%
0%
0%
The detached house rules in Highland Lakes: 99% of homes, more than in Shelby County (77%).
Year built
Before 19601960–19791980–19992000–20092010 or laterUnreliable estimate
Highland Lakes
Shelby County
Alabama
United States
Year built: Highland Lakes and its comparisons
Measure
Highland Lakes
Shelby County
Alabama
United States
Before 1960
Unreliable estimate
4%
16%
26%
1960–1979
Unreliable estimate
12%
26%
24%
1980–1999
18%
40%
29%
25%
2000–2009
54%
27%
15%
14%
2010 or later
22%
17%
13%
11%
Homes in Highland Lakes are newer: the typical year built is 2005; in Shelby County, 1997.
There is more room for a big family here: 92% of homes have 3 bedrooms or more, against 81% in Shelby County.
What it costs here
U.S. Census Bureau, ACS 5-year, 2020–2024
Value of owner-occupied homes
Unreliable estimate
Under $100KUnreliable
$100K–$200KUnreliable
$200K–$300KUnreliable
$300K–$500K22%
$500K–$750K56%
$750K–$1MUnreliable
$1M or moreUnreliable
Value of owner-occupied homes: Highland Lakes and its comparisons
Measure
Highland Lakes
Under $100K
Unreliable estimate
$100K–$200K
Unreliable estimate
$200K–$300K
Unreliable estimate
$300K–$500K
22%
$500K–$750K
56%
$750K–$1M
Unreliable estimate
$1M or more
Unreliable estimate
Monthly rent with utilities
Unreliable estimate
Under $500Unreliable
$500–$999Unreliable
$1,000–$1,499Unreliable
$1,500–$1,999Unreliable
$2,000–$2,499Unreliable
$2,500–$2,999Unreliable
$3,000 or moreUnreliable
Monthly rent with utilities: Highland Lakes and its comparisons
Measure
Highland Lakes
Under $500
Unreliable
$500–$999
Unreliable
$1,000–$1,499
Unreliable estimate
$1,500–$1,999
Unreliable estimate
$2,000–$2,499
Unreliable
$2,500–$2,999
Unreliable
$3,000 or more
Unreliable
With a mortgage
$2,811 a month
Shelby County: $1,734 a month
Without a mortgage
$737 a month
Shelby County: $556 a month
Owners with a mortgage
81%
Shelby County: 68%
The typical cost for an owner with a mortgage in Highland Lakes is $2,811 a month, more than in Shelby County ($1,734); without one, $737.
How it changed
U.S. Census Bureau, ACS 5-year, 2015–2019 and 2020–2024
Change since 2015–2019
Typical home value
Highland Lakes+35%
Shelby County+54%
Alabama+47%
United States+53%
Typical household income
Highland LakesNo clear change
Shelby County+26%
Alabama+27%
United States+29%
Change since 2015–2019: Highland Lakes and its comparisons
Measure
Highland Lakes
Shelby County
Alabama
United States
Typical home value
+35%
+54%
+47%
+53%
Typical rent
No data
+34%
+27%
+33%
Typical household income
No clear change
+26%
+27%
+29%
Homes in Highland Lakes gained value more slowly than in Shelby County: 35% since 2015–2019, against 54%.
How people live
U.S. Census Bureau, ACS 5-year, 2020–2024
How people live: Highland Lakes and its comparisons
Measure
Highland Lakes
Shelby County
Alabama
United States
Rental vacancy
Unreliable estimate
4.2%
7.2%
5.5%
Homeowner vacancy
Unreliable estimate
0.6%
1.1%
0.9%
More than one person per room
Unreliable estimate
1.0%
1.7%
3.4%
People per household
2.68
2.61
2.48
2.53
Drive alone
70%
75%
81%
69%
Carpool
Unreliable estimate
7%
8%
9%
Public transit
Unreliable estimate
Unreliable estimate
0%
3%
Walk or bike
Unreliable estimate
1%
1%
3%
Work from home
23%
17%
9%
15%
Other means
Unreliable estimate
1%
1%
2%
Typical commute
Unreliable estimate
Unreliable estimate
20 to 29 minutes
20 to 29 minutes
By size, households in Highland Lakes look like those in Shelby County: 2.68 people on average.
In Highland Lakes, 23% of workers work from home, more than in Shelby County (17%).
Do the math
What would you pay each month for a home in Highland Lakes?
A typical home is tight for the typical income
We start with a typical home in Highland Lakes, worth $599,200, an FHA loan with 3.5% down and the latest average rate (7.18%). That payment would take 33% of the typical household income in Highland Lakes, which is $169,361 a year. For that payment to be 28% of income, a household would need to earn about $201,004 a year. Note: at that price the loan is above the FHA limit for Shelby County ($541,287), so FHA would not insure it; the payment is only a reference.
The calculator's FHA and conventional loan limits are those of all of Shelby County.
Change the price, the down payment or the loan: the payment updates right away.
Your numbers
Local data
$
Starts at the typical home value in Highland Lakes. Change it to the price you have in mind.
Your score changes which loans apply and FHA's minimum down payment. Your real rate also depends on your credit.
Down payment
%
That is $20,972 (3.5% of the price). The usual minimum for this loan is 3.5%.
This week's average ± a quarter or half point.
National average as of November 5, 2026 (Freddie Mac); your rate may be different.
Adjust advanced details⌄
Estimated monthly payment
Local data
$4,690
at 7.18% · 30 years
Loan amount
$588,347
Total interest
$846,493
Paid off in
November 2056
Includes $10,119 FHA upfront mortgage insurance premium.
Does it fit the income?
Comfortable
up to $3,952 a month
Tight
$3,952 to $5,081 a month
Your payment · 33%
Hard
more than $5,081 a month
Compared with the typical household income in Highland Lakes ($169,361 a year). Reference: HUD calls paying more than 30% of income for housing a cost burden.
Monthly payment breakdown
Principal & interest
$3,986
Property tax
$190
Home insurance
$250
FHA mortgage insurance (MIP)
$265
This loan is over the FHA limit
You'd borrow $578,228, but the FHA limit for a one-unit home in Highland Lakes is $541,287. You'd need a bigger down payment or a different loan.
You need at least $20,972 for the down payment, plus closing costs.
This is an estimate to give you an idea, not a loan offer. Your real payment depends on your rate, your credit, and the insurance and taxes on the home you buy.
Total monthly payment $4,690; principal and interest $3,986.
The city and its county
Highland Lakes and Shelby County
Highland Lakes is in Shelby County, Alabama. The U.S. Census Bureau publishes its own numbers for the city: home values, rent, household income, how many households own their home and the property tax. They are American Community Survey estimates (average 2020–2024).
Highland Lakes
Map of Shelby County, Alabama, with Highland Lakes marked. Around it, the neighboring counties.
Highland Lakes
Shelby County
Other cities with a page
Highland Lakes's own numbers
Typical home value
$599,200
Typical yearly household income
$169,361
Households that own their home
97%
Effective property tax rate
0.38%
U.S. Census Bureau, American Community Survey (average 2020–2024).
Numbers for all of Shelby County
FHA limit, one-unit home
$541,287
Conventional limit, one unit
$832,750
HUD fair market rent, 2 bedrooms
$1,375
Price change over 5 years (FHFA)
+48%
Homes in a high flood-risk zone
1.2%
HUD, FHFA and FEMA don't publish these numbers by city.
Other numbers are not published by city, only for the whole county: FHA and conventional loan limits, HUD’s fair market rents, FHFA’s price index and FEMA’s flood data. On this page, those numbers always say they are for all of Shelby County.
A typical home in Highland Lakes is worth $599,200: 84% above the county and 185% above Alabama. With the typical household income in Highland Lakes ($169,361 a year), a typical home costs 3.5 times what the household earns in a year.
Years of income to pay for a typical home
The typical home value divided by the typical household income for one year. The lower it is, the less buying weighs.
Highland Lakes3.5 years
Shelby3.3 years
Alabama3.3 years
United States4.1 years
Source: U.S. Census Bureau, Average 2020–2024
How prices have changed in Shelby County
According to FHFA’s house price index, home prices in Shelby County rose 83% in the 10 years through 2025.
FHFA does not publish this index by city: these are the numbers for all of Shelby County.
Yearly change in FHFA’s price index in Shelby County, 2016 to 2025
2016: +3.7% +3.7% 2016
2017: +2.7% +2.7% 2017
2018: +6.0% +6.0% 2018
2019: +4.2% +4.2% 2019
2020: +5.0% +5.0% 2020
2021: +10.5% +10.5% 2021
2022: +17.3% +17.3% 2022
2023: +7.5% +7.5% 2023
2024: +2.4% +2.4% 2024
2025: +4.0% +4.0% 2025
Change in FHFA’s price index in Shelby County, Alabama and the United States
Period
County
Alabama
U.S.
Last year (2025)
+4.0%
+2.5%
+2.9%
5 years (2020–2025)
+48%
+47%
+47%
10 years (2015–2025)
+83%
+77%
+85%
The index follows the price of the same homes over time (sales and appraisals with Fannie Mae and Freddie Mac loans). It is not the average price of a home. FHFA considers its annual county indexes experimental. Source: FHFA, 2025 data
Highland Lakes next to Shelby County, Alabama and the U.S.
Three numbers side by side. “Typical” means the median: half are above it and half below.
Typical home value
Highland Lakes$599,200
Shelby$326,100
Alabama$209,900
United States$332,700
Typical yearly household income
Highland Lakes$169,361
Shelby$97,961
Alabama$63,999
United States$80,734
See the full table
Highland Lakes next to Shelby County and Alabama
Measure
Highland Lakes
Shelby County
Alabama
U.S.
Typical home value
$599,200 ▲84% above the county
$326,100
$209,900
$332,700
Typical yearly household income
$169,361 ▲73% above the county
$97,961
$63,999
$80,734
Households that own their home
97% ▲15 points above the county
81%
70%
65%
Typical yearly property tax
$2,258 ▲59% above the county
$1,423
$788
$3,119
Effective property tax rate
0.38% ▼0.06 points below the county
0.44%
0.38%
0.94%
“Typical” means the median: half are above and half are below. ▲ and ▼ say whether the city is above or below Shelby County. “High rent” is the Census measure: renter households that pay 30% or more of their income in rent.
Four ways to pay for a typical home in Highland Lakes
For a typical $599,200 home in Highland Lakes, at Freddie Mac's average rate (7.18% as of November 5, 2026) over 30 years. The monthly payment adds principal and interest, Highland Lakes's typical property tax, an example home insurance and mortgage insurance when it applies.
FHA, 3.5% down$4,690a month
Above the FHA limit for Shelby County ($541,287)
Down payment
$20,972
Cash to close
$38,948
Rate
7.18%
Mortgage insurance
FHA MIP · $265
Conventional, 5% down$4,580a month
Least cash to close
Down payment
$29,960
Cash to close
$47,936
Rate
7.18%
Mortgage insurance
PMI · $285
Conventional, 20% down, no PMI$3,687a month
Down payment
$119,840
Cash to close
$137,816
Rate
7.18%
Mortgage insurance
None
ITIN, 15% down (example)$4,241a month
Down payment
$89,880
Cash to close
$107,856
Rate
8.18%
Mortgage insurance
None
Four ways to pay for a typical home in Highland Lakes
Loan
Monthly payment
Down payment
Loan amount
Rate
Mortgage insurance
Cash to close
Minimum score
FHA, 3.5% down Above the FHA limit for Shelby County ($541,287)
$4,690
$20,972
$588,347
7.18%
FHA MIP · $265
$38,948
580
Conventional, 5% down Least cash to close
$4,580
$29,960
$569,240
7.18%
PMI · $285
$47,936
620*
Conventional, 20% down, no PMI
$3,687
$119,840
$479,360
7.18%
None
$137,816
620*
ITIN, 15% down (example)
$4,241
$89,880
$509,320
8.18%
None
$107,856
Set by the lender
The option that asks for the least cash to close is Conventional, 5% down.
Cash to close = down payment plus 3% of the price in closing costs (example).
Minimum score: FHA requires 580 or higher for the minimum down payment (HUD Handbook 4000.1). * Fannie Mae requires 620 when a loan is underwritten by hand; its automated system has no fixed minimum.
The ITIN row is an example with a rate 1 percentage point higher: ITIN loans follow no federal rule and each lender sets its own down payment and rate. Nothing in this table promises an approval.
The Census Bureau publishes no typical rent for Highland Lakes. Below are the fair market rents for Shelby County.
HUD publishes a fair market rent for all of Shelby County, by unit size. To pay the 2-bedroom one ($1,375 a month) without spending more than 30% of your income, you would need to earn $26.44 an hour working full time.
What you need to earn to pay it without spending more than 30% of income, working full time.
HUD fair market rent in Shelby County (Fiscal year 2027)
Size
Fair rent a month
Hourly wage
Yearly income
Studio
$1,177
$22.63
$47,080
1 bedroom
$1,263
$24.29
$50,520
2 bedrooms
$1,375
$26.44
$55,000
3 bedrooms
$1,727
$33.21
$69,080
4 bedrooms
$1,941
$37.33
$77,640
Includes basic utilities. It isn't the lowest or highest rent: it's a reference point. Source: HUD, Fiscal year 2027
By ZIP code
Fair market rent by ZIP code in Highland Lakes
HUD also publishes a fair market rent for each ZIP code (Small Area FMR, fiscal year 2027). Highland Lakes is in ZIP code 35242.
For 2 bedrooms it is $1,680: $305 more than the fair market rent for Shelby County ($1,375).
Fair market rent by ZIP code and size in Highland Lakes, fiscal year 2027.
ZIP code
Studio
1 bd
2 bd
3 bd
4 bd
35242
$1,440
$1,540
$1,680
$2,110
$2,370
ZIP code2 bd3 bd
35242 $1,680$2,110
1 of these ZIP codes crosses the city line: HUD sets the rent by ZIP code, not by city. A ZIP code counts for Highland Lakes when at least 50% of its land is inside the city or it covers at least 15% of the city (Census 2020 boundaries). Source: Small Area Fair Market Rents (HUD)Fiscal year 2027Small Area Fair Market Rents (HUD) (external site)Source: Census Bureau ZCTA-to-place relationship fileData from 2020 dataCensus Bureau ZCTA-to-place relationship file (external site)
You do not have to do this alone. A HUD-approved housing counseling agency helps for free or at low cost: getting ready to buy, understanding your credit, or solving a problem with your rent.
We found no HUD-approved agencies with an office in Shelby County. The nearest ones are below; many serve by phone or online.
No down payment, repair or rent-help program on our list is for Highland Lakes or Shelby County. The ones below are statewide in Alabama: they work in Highland Lakes the same as in the rest of the state.
Alabama state authority program with down payment assistance of 4% of the price (up to $10,000) as a 10-year second mortgage, alongside a 30-year fixed mortgage.Offered by Alabama Housing Finance Authority (AHFA).
Alabama state authority 30-year low-rate mortgage, for first-time buyers and for people who have owned a home before, with down payment assistance of 4% of the price, up to $10,000, as a ten-year second mortgage.Offered by Alabama Housing Finance Authority (AHFA).
Alabama state authority grant for closing costs with an HFA Advantage conventional loan: 1% of the loan if you earn up to 50% of the area median, or half a percent if you earn 50% to 80%.Offered by Alabama Housing Finance Authority (AHFA).
The HUD-approved agencies closest to the center of Highland Lakes, in a straight line, nearest first. If one says it serves in Spanish, its card says so.
No legal help resource on our list is for Highland Lakes or Shelby County in particular.
If you have a problem with your landlord, an eviction notice or a scam, the Legal Services Corporation (LSC) search shows the free legal aid offices that serve your area.
Short answers with the numbers for Highland Lakes and all of Shelby County. If your case is different, a HUD-approved counseling agency can guide you for free or at low cost.
How much does a typical home cost in Highland Lakes?
The typical home value in Highland Lakes is $599,200, according to the U.S. Census Bureau (average 2020–2024). For comparison, in Shelby County it is $326,100.
What is the FHA loan limit in Highland Lakes?
Highland Lakes uses the FHA limit for all of Shelby County (2026): $541,287 for a one-unit home and $1,041,125 for a four-unit home.
How much property tax do owners pay in Highland Lakes?
The typical homeowner in Highland Lakes pays $2,258 a year, according to the U.S. Census Bureau. That is 0.38% of the home’s value; in Shelby County, the rate is 0.44%.
Where can I find free help to buy or rent in Highland Lakes?
We found no HUD-approved counseling agencies with an office in Shelby County; the nearest ones are on this page. They can help you get ready to buy, with your credit, or with rent.
