Selma, AL home prices
Typical home $84,788 · +3.4% in a year · income needed $22,600
The Selma, AL metro area ranks 890 of 894 U.S. metros for home values (U.S. typical home: $366,157). Prices changed +3.4% in a year and -7.8% over five years. With 20% down at 7.11%, the typical home costs about $528 a month including 0.41% property tax (Dallas County rate).
Mortgage on the typical Selma home
| Down payment | Cash down | Loan | Principal + interest | PMI / MIP | Tax + insurance | Total / month | Income needed |
|---|---|---|---|---|---|---|---|
| 20% down | $16,958 | $67,831 | $456 | $0 | $72 | $528 | $22,600 |
| 10% down | $8,479 | $76,310 | $513 | $32 | $72 | $617 | $26,400 |
| 5% down | $4,239 | $80,549 | $542 | $34 | $72 | $647 | $27,700 |
| 3.5% down (FHA) | $2,968 | $83,253 | $560 | $38 | $72 | $669 | $28,700 |
Assumes a 30-year fixed loan at 7.11%, property tax of 0.41% of the home value a year, homeowners insurance of 0.6% a year, PMI of 0.5% of the loan a year when the down payment is under 20%, and FHA mortgage insurance of 0.55% a year plus a 1.75% upfront premium added to the loan. Your rate, taxes and insurance will differ.
Counties in the Selma area
| County | Typical home | 1-yr change | Tax rate |
|---|---|---|---|
| Dallas County, AL | $84,756 | +3.4% | 0.41% |
What can you afford in Alabama on your salary? · Alabama home prices · Salaries in Alabama
Frequently asked questions
How much is a house in Selma?
The typical home in the Selma, AL metro area is worth $84,788 (Zillow, September 2026).
What salary do you need to buy a house in Selma?
About $22,600 a year for the typical home with 20% down at 7.11%.