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Birmingham, AL mortgage & affordability calculator

The typical home in Birmingham, AL is worth about $230,000. With 20% down that's a loan near $184,000 — the calculator is pre-filled with that figure. Alabama's property tax rate is among the lowest in the nation, and Birmingham's home prices remain well below the regional average for a metro of its size. Former steel-industry neighborhoods near downtown are seeing renewed investment, while insurance stays moderate outside the most storm-prone corridors.

$1,194.64 / month

Total interest
$246,075
Total paid
$430,075
Payoff
30.0 years
Balance over YearBalance ends near $0 at 30.$0$46k$92k$138k$184k0612182430Year

How much you need to earn

Birmingham, AL's median household income is about $58,000 a year. Under standard 28/36 lending rules that supports a home price around $211,444 with 20% down — below the $230,000 typical price, so many buyers need a larger down payment, a co-borrower, or a longer commute.

$211,455 max home price

Max loan amount
$165,455
Housing payment budget
$1,353
P&I budget
$1,074
Bound by
front-end ratio

Uses the 28% front-end / 36% back-end DTI guidelines. Lenders vary.

Typical asking rent in Birmingham, AL is about $1,200 a month, so owning the median home costs roughly $274 more per month before tax effects, maintenance, and any change in home value.

Frequently asked questions

What is a typical mortgage payment in Birmingham, AL?
On the metro's roughly $230,000 typical home with 20% down, the loan is about $184,000. Principal and interest run near $1,195 a month at today's rate, and Birmingham, AL's property tax plus insurance add about $279, for a full payment near $1,474.
Can I afford a home in Birmingham, AL on the median income?
The median household income is about $58,000 a year. Under standard 28/36 lending rules that supports a home price around $211,444 with 20% down — below the $230,000 typical price, so buyers often need a larger down payment or a co-borrower.
Is it cheaper to rent or buy in Birmingham, AL?
Typical asking rent is about $1,200 a month. The full owner payment on a median home is near $1,474, so owning costs roughly $274 more per month before tax effects, maintenance, and any appreciation.
How much are property taxes in Birmingham, AL?
The effective property tax rate in the core county is about 0.50% of market value — roughly $1,150 a year on the typical home. Your exact rate depends on the municipality and any exemptions.
Are home prices in Birmingham, AL rising or falling?
Home values are up about 3% over the past year. Alabama's property tax rate is among the lowest in the nation, and Birmingham's home prices remain well below the regional average for a metro of its size. Former steel-industry neighborhoods near downtown are seeing renewed investment, while insurance stays moderate outside the most storm-prone corridors.

Nearby metros

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