Mortgage on a $200K house in Alabama
$1,240 a month with 20% down — $1,076 principal and interest plus $64 property tax and $100 insurance.
Alabama's typical property tax is 0.38% of the home's value a year (U.S. average 0.9%), which adds $64 a month on a $200K home. The typical home in Alabama is worth $238,614, so $200K is 16% below the typical price.
$200K home in Alabama: payment by down payment
| Down payment | Cash down | Loan | Principal + interest | PMI / MIP | Tax + insurance | Total / month | Income needed |
|---|---|---|---|---|---|---|---|
| 20% down | $40,000 | $160,000 | $1,076 | $0 | $164 | $1,240 | $53,200 |
| 10% down | $20,000 | $180,000 | $1,211 | $75 | $164 | $1,450 | $62,100 |
| 5% down | $10,000 | $190,000 | $1,278 | $79 | $164 | $1,521 | $65,200 |
| 3.5% down (FHA) | $7,000 | $196,378 | $1,321 | $88 | $164 | $1,573 | $67,400 |
Assumes a 30-year fixed loan at 7.11%, property tax of 0.38% 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.
Where in Alabama does $200K buy a typical home?
In these counties the typical home value is within 15% of $200K:
| County | Typical home | Tax rate | Total / month |
|---|---|---|---|
| Houston County | $200,548 | 0.31% | $1,227 |
| Russell County | $197,342 | 0.38% | $1,240 |
| Colbert County | $196,003 | 0.4% | $1,242 |
| Mobile County | $195,684 | 0.47% | $1,254 |
| Henry County | $193,549 | 0.34% | $1,234 |
| Randolph County | $207,016 | 0.25% | $1,218 |
| Winston County | $207,200 | 0.32% | $1,230 |
| Jackson County | $189,054 | 0.3% | $1,226 |
| Jefferson County | $214,208 | 0.59% | $1,274 |
| Etowah County | $185,226 | 0.39% | $1,241 |
| De Kalb County | $215,383 | 0.32% | $1,230 |
| Coosa County | $180,253 | 0.27% | $1,222 |
42 of 67 Alabama counties tracked by Zillow have a typical home value at or below $200K. See all Alabama home prices.
Other prices in Alabama
Frequently asked questions
What is the mortgage on a $200K house in Alabama?
About $1,240 a month with 20% down at 7.11%: $1,076 principal and interest, $64 property tax and $100 insurance.
How much do I need to make to buy a $200K house in Alabama?
About $53,200 a year, so that the payment stays under 28% of your gross income.
What is the property tax on a $200K house in Alabama?
At Alabama's typical effective rate of 0.38%, about $768 a year. Rates vary by county and city — see the county pages.