CALCMONEY // HOME AFFORDABILITY // AL // MOBILE
How much house can you afford in Mobile? Based on local median home prices, current AL mortgage rates, and Mobile property tax data.
$195,000
$1,187/mo
$50,872/yr
$173,533
Monthly housing costs of $1,187 represent 31.0% of Mobile's median gross monthly income ($3,833/mo). At 31.0%, this slightly exceeds the 28% rule. Buyers need above-median income or a 25%+ down payment to qualify comfortably.
| Median Home Price | $195,000 |
| Down Payment (20%) | $39,000 |
| Loan Amount | $156,000 |
| Monthly PI Payment | $1,033 |
| Monthly Property Tax | $73 |
| Monthly Insurance Est. | $81 |
| Total Monthly PITI | $1,187 |
| Housing Cost % of Income | 31.0% |
| Required Income (28% rule) | $50,872/yr |
| Max Affordable Home | $173,533 |
$6,825
$1,533/mo
Mobile Home Affordability Quick Reference 2026
| Metric | Value | Notes |
|---|---|---|
| Median Home Price | $195,000 | Mobile city median |
| Down Payment (20%) | $39,000 | Conventional loan |
| Monthly PITI | $1,187 | 6.95% rate, 30yr fixed |
| Required Income (28% rule) | $50,872 | Annual gross |
| Max Affordable Home | $173,533 | Based on median income |
| FHA Down (3.5%) | $6,825 | Minimum FHA |
| Housing Cost % of Income | 31.0% | Median income: $46,000/yr |
| Property Tax Rate | 0.45% | $878/yr on median home |
Monthly PITI includes principal, interest, property tax, and homeowners insurance. Estimates only.
The median home price in Mobile is $195,000, with a local 30-year mortgage rate of 6.95%. A buyer putting 20% down carries a loan of $156,000, generating a monthly P&I payment of $1,033. Adding property taxes ($73/mo) and homeowners insurance ($81/mo) brings total monthly PITI to $1,187.
Mobile's property tax rate of 0.45% is among the lower rates in the country, which improves overall affordability by keeping total PITI closer to the principal and interest payment alone. On the Mobile median home, that is $73/month, or $878 per year.
Alabama levies a state income tax, which affects take-home pay and effective buying power. High-income earners in Mobile should factor state tax liability into their overall housing budget — mortgage interest may be deductible on both federal and state returns.
Using the 28% rule, a household earning Mobile's median income of $46,000/year can afford up to $1,073/month in total housing costs. Based on Mobile's mortgage rate of 6.95% and property tax rate of 0.45%, that translates to a maximum affordable home price of approximately $173,533 with 20% down on a 30-year loan.
To afford the median Mobile home priced at $195,000, you need an annual gross income of approximately $50,872. Total monthly housing costs (principal and interest of $1,033, property taxes of $73, and insurance of $81) come to $1,187/month, which equals 28% of the required income.
At the median home price of $195,000 and median household income of $46,000, the total monthly housing cost of $1,187 represents 31.0% of gross monthly income. This slightly exceeds the standard 28% rule. Buyers will need above-median income or a larger down payment to stay within guidelines.
A conventional 20% down payment on the median Mobile home of $195,000 is $39,000. An FHA loan requires just 3.5% down — $6,825 — but adds mortgage insurance of roughly $133/month, bringing total FHA payments to $1,533/month.
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