American Dream Home features on small town in Alabama

The couple searched the community of Oneonta, Alabama, for their country escape last week, as American Dream Home introduced viewers to Aly and Tyler.

The town is located about an hour north of Birmingham, and not that far from Atlanta, Georgia.

The cost of living is about 11 percent cheaper than the national average.

At the time we filmed with the couple, homes were going for about $135 a square foot.

I spoke to Coldwell Banker's Michele Reidel, who was also featured in the episode, to get an update on the market today.

Demand for small farms and recreational properties has grown in the time since filming. This has been driven by low interest rates, a healthy economy, and low inventory levels across the southeast. Reidel believes that there is a renewed interest in living a more sustainable and independent lifestyle in light of the uncertainty of a global pandemic. She said, While it is not yet to be seen how much impact inflation and stalling economic growth has on this demand, one thing is certain: Buyers are increasingly interested in making the dream of owning land a reality. The typical home value in nearby Columbus, Georgia is $144,571, according to Realtor.com.

The values have gone up 16.6% year over year.

The price point and amount of space you get in this area of the country is very affordable.

I found a 5 bedroom, 5 bath, 590,000 square foot home listed on Zillow for $590,000. It has a 3 car garage, formal dining room, and a very large master suite.

I understand why demand is still strong.

The economics are impressive for such a small town, as you look at Oneonta, where we filmed.

The unemployment rate is only 2.1%, compared to the national average of 3.6%, according to BestPlaces.net. The population is at 6,601 people - so you know your neighbors!

The home in the area has appreciated 8.4% over the last decade. There are 14.9 students per teacher for families in Oneonta.

With the 30 year fixed rate mortgage hitting a 13 year high, money transfers EO Jonathan Merry told FOX Business, Americans are having to dig deep into their pockets for home purchases and larger monthly payments threaten to price out buyers that can't put down significant down payments. The difficulty of first-time home ownership has been increased because of the escalating rent nationally. As for home prices nationally, Natixis expects a correction of 5 percent.