Brighton, Alabama, a small community in Jefferson County, has experienced significant changes in its housing market over the past decade. With a population of 2,998 as of 2022 and covering just 1.41 square miles, this city has seen notable shifts in homeownership rates and housing prices. The homeownership rate in Brighton has shown an overall upward trend from 2013 to 2022, increasing from 56% to 66%. This rise in homeownership coincided with fluctuations in average home prices. From 2015 to 2022, average home prices in Brighton increased from $24,772 to $42,457, representing a significant 71% increase over seven years.

The relationship between federal interest rates and homeownership rates in Brighton appears to follow the general trend of lower interest rates encouraging homeownership. For instance, as interest rates remained low between 2013 and 2016 (ranging from 0.11% to 0.40%), homeownership rates in Brighton increased from 56% to 60%. However, even as interest rates began to rise from 2017 onwards, homeownership rates in Brighton continued to climb, reaching 66% by 2022 when the federal interest rate was 1.68%.

Renter percentages in Brighton have inversely mirrored the homeownership trend, decreasing from 44% in 2013 to 34% in 2022. During this period, average rent prices showed an overall upward trend, rising from $801 in 2013 to $815 in 2022, despite some fluctuations. Notably, the population of Brighton decreased from 3,303 in 2013 to 2,998 in 2022, which may have influenced the rental market dynamics.