Mortgage on a $250K house in Alabama
$1,550 a month with 20% down — $1,345 principal and interest plus $80 property tax and $125 insurance.
Alabama's typical property tax is 0.38% of the home's value a year (U.S. average 0.9%), which adds $80 a month on a $250K home. The typical home in Alabama is worth $238,614, so $250K is 5% above the typical price.
$250K home in Alabama: payment by down payment
| Down payment | Cash down | Loan | Principal + interest | PMI / MIP | Tax + insurance | Total / month | Income needed |
|---|---|---|---|---|---|---|---|
| 20% down | $50,000 | $200,000 | $1,345 | $0 | $205 | $1,550 | $66,400 |
| 10% down | $25,000 | $225,000 | $1,514 | $94 | $205 | $1,812 | $77,700 |
| 5% down | $12,500 | $237,500 | $1,598 | $99 | $205 | $1,902 | $81,500 |
| 3.5% down (FHA) | $8,750 | $245,472 | $1,651 | $111 | $205 | $1,967 | $84,300 |
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 $250K buy a typical home?
In these counties the typical home value is within 15% of $250K:
| County | Typical home | Tax rate | Total / month |
|---|---|---|---|
| Tuscaloosa County | $249,799 | 0.32% | $1,537 |
| Cullman County | $252,044 | 0.26% | $1,524 |
| Marshall County | $240,091 | 0.36% | $1,546 |
| Tallapoosa County | $263,539 | 0.3% | $1,534 |
| Blount County | $235,551 | 0.3% | $1,533 |
| Autauga County | $265,448 | 0.3% | $1,533 |
| Cleburne County | $232,870 | 0.29% | $1,532 |
| Cherokee County | $229,115 | 0.38% | $1,550 |
| Morgan County | $227,725 | 0.34% | $1,541 |
| Lauderdale County | $227,549 | 0.38% | $1,549 |
| Elmore County | $272,853 | 0.27% | $1,527 |
| Chilton County | $221,906 | 0.33% | $1,540 |
57 of 67 Alabama counties tracked by Zillow have a typical home value at or below $250K. See all Alabama home prices.
Other prices in Alabama
Frequently asked questions
What is the mortgage on a $250K house in Alabama?
About $1,550 a month with 20% down at 7.11%: $1,345 principal and interest, $80 property tax and $125 insurance.
How much do I need to make to buy a $250K house in Alabama?
About $66,400 a year, so that the payment stays under 28% of your gross income.
What is the property tax on a $250K house in Alabama?
At Alabama's typical effective rate of 0.38%, about $959 a year. Rates vary by county and city — see the county pages.