Henry County, AL: income, rent and loan options

Henry County at a glance

Henry County is home to about 17,647 people, according to the Census Bureau's 2020 to 2024 American Community Survey, which makes it the 51st most populous of 67 county-level areas in Alabama. Spread over 562 square miles, that works out to roughly 31.4 residents per square mile. For statistical purposes it belongs to the Dothan, AL metro area, as delineated by the Office of Management and Budget in July 2023. The Census Bureau counts 4 places in the county (4 incorporated, 0 census-designated); the largest is Headland, with about 5,217 residents, or 30% of the county.

Household income in Henry County

Half of Henry County households take in less than $59,931 a year and half take in more, 6% below the Alabama median of $63,999. That places it 21st among Alabama's 67 county-level areas.

Some 34% of households here live on less than $35,000 a year; 30% have six-figure incomes. The poverty rate is 18.3%, 3 points higher than the state's 15.6%. Income from any regular source can count, including Social Security, pensions and disability benefits, as long as you can document it.

The Henry County job picture

The biggest employer of Henry County residents, by industry, is education and health care at 29% of workers, followed by retail trade (13%). Education and health care stands out: 29% of workers here, versus 23% statewide. ACS puts five-year average unemployment at 3.6% in Henry County. About 87% drive to work alone and 18% have trips of 45 minutes or more. Only 7.5% of homes here go without a vehicle.

Industry shapes paperwork. Salaried and public jobs are easy to verify, while hourly, tipped, commission or contract earners in Henry County should have bank statements and tax returns ready.

Renting and owning in Henry County

Median gross rent, utilities included, comes to $769 in Henry County versus $1,007 statewide. Rent takes 30% or more of income for 47% of renter households here. With a median value of $161,000, a typical Henry County house costs 2.7 times what the median household earns in a year. Owners occupy 79% of homes. The median year built is 1982.

Because most Henry County households own, home repairs are a frequent reason to borrow. An unsecured personal loan leaves the house out of the deal, while a HELOC uses it as collateral.

Regional comparison for Henry County

The six counties whose centers lie closest to Henry County's, from 16 to 28 miles away. None of the six report a higher median household income than Henry County; Houston County is highest at $58,626 and Quitman County lowest at $40,179. The list crosses into Georgia, where different lending rules and regulators apply.

Cities, towns and CDPs in Henry County

The table lists the 4 largest of 4 Census places in Henry County, by population. Together all 4 hold about 8,691 people, so roughly 51% of residents live outside any named place. Headland has the highest median household income on the list ($79,063) and Abbeville the lowest ($31,712), counting places with at least 500 residents. Median rent ranges from $493 in Abbeville to $875 in Newville. This guide covers each of the 4 places and the rural areas around them.

Budget math at the Henry County median

Here is the Henry County median household run through a simple DTI check. Your numbers will differ.

• $4,994 a month: gross income for a household at the Henry County median
• Less median rent of $769, which is 15% of it
• $979: what a 35% ratio leaves once rent is paid
• With a 45% ceiling, about $1,478 remains for car, card, student and any new loan payments

Subtract what you already pay on other debts. A new payment should fit in what remains, with some to spare.

People and households in Henry County

22% of Henry County adults 25 and older hold a bachelor's degree or more. 9.1% of residents have no health coverage.

Reading the Henry County data as a borrower

What the Henry County figures suggest, and what to check first:

• Keeping the car running. At 18% with long commutes, repairs are a frequent Henry County emergency; first decide if the car is worth fixing.
• Repairs on manufactured housing. With 22% of homes here, compare a personal loan with any dealer or park repair program.
• Free help first. 18% of residents live below the poverty line; utility, rent and food programs cost nothing to repay (free options).
• Renters under pressure. When 47% pay 30% or more for rent, the smallest loan that solves the problem is the right size.

A Henry County borrower's checklist

A short checklist for Henry County borrowers:

• Size the loan to the bill, not to the most a lender offers.
• Collect three written offers and compare APR and total repaid.
• A Alabama license check takes minutes; do it first.
• Ask about early-payoff penalties.

Licensing and complaints for Henry County

Henry County borrowers fall under statewide rules, enforced by the Alabama State Banking Department. The Consumer Financial Protection Bureau accepts complaints nationwide. See the Alabama state guide for the statewide picture.

Related local guides

For statewide rules and data, see the Alabama guide.

• Alabama state guide