CALCMONEY // MORTGAGE // AL
Calculate your monthly mortgage payment using Alabama-specific property tax rates, current average interest rates, and local median home prices.
Open Full Calculator$232,000
6.95%
0.41%
2%–5%
How today's 6.95% rate compares to recent years
| Period | 30-Yr Rate | vs. Today |
|---|---|---|
| 2026 (current) | 6.95% | — |
| 2024 avg | 7.37% | -0.42% |
| 2023 avg | 7.80% | -0.85% |
| 2022 peak | 7.63% | -0.68% |
| 2021 avg | 3.55% | +3.40% |
| 2020 avg | 3.35% | +3.60% |
Rate estimates based on Freddie Mac Primary Mortgage Market Survey national averages adjusted for Alabama market conditions. Actual rates vary by lender and borrower profile.
| Principal & Interest | $1,229 |
| Property Tax | $79 |
| Homeowners Insurance (est.) | $77 |
| Total Monthly Payment (PITI) | $1,385 |
$46,400
$256,687
$59,365/yr
Statewide, Alabama's median home price runs $232,000, 45% below the $420,000 national median. The 4.1x price-to-income ratio here is measured against a $56,200 median household income.
At a 0.41% average effective rate, Alabama property taxes add $79 to the monthly payment on the median home, $951 a year statewide.
Alabama levies a state income tax of 2%–5% on top of the $1,385/month this mortgage runs. Model your real after-tax take-home before deciding how much payment you can carry.
Beyond housing, Alabama's cost of living index sits at 89 (national average = 100), running below the national baseline for groceries, transportation, and healthcare.
Alabama's median home price runs 1% lower than Indiana: $235,000 there versus $232,000 here.
Once you have your payment estimate, comparing lenders is the most important step. A 0.25% rate difference on a $185,600 loan saves $8,352 in interest over 30 years.
Compare Top Alabama Mortgage Lenders