CALCMONEY // MORTGAGE // AL // BIRMINGHAM
Calculate your monthly mortgage payment using Birmingham-specific property tax rates and local market data.
$215,000
6.95%
0.41%
83
| Principal & Interest | $1,139 |
| Property Tax | $73 |
| Homeowners Insurance (est.) | $72 |
| Total Monthly Payment (PITI) | $1,284 |
$43,000
$237,878
$55,015/yr
The median home price in Birmingham is $215,000, below the national median of $420,000. With a median household income of $52,000, the price-to-income ratio is 4.1x — meaning buyers typically spend 4.1 years of gross income on the purchase price.
Property taxes in Birmingham run 0.41% of assessed value. On the median home, that is $882 per year, or $73 per month added to your mortgage payment. This is well below the national average of 1.1%, giving Birmingham homeowners a meaningful property tax advantage.
Alabama has a state income tax. Factor your take-home pay into how much mortgage you can comfortably carry each month.
The cost of living index in Birmingham is 83 (national average = 100). Beyond housing, your everyday expenses will also run below the national average.
Once you have your payment estimate, comparing lenders is the most important step. A 0.25% rate difference on a $172,000 loan saves $7,740 in interest over 30 years.
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