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Mobile, AL mortgage & affordability calculator

The typical home in Mobile, AL is worth about $185,000. With 20% down that's a loan near $148,000 — the calculator is pre-filled with that figure. Mobile sits on the Gulf Coast, so hurricane exposure pushes homeowners insurance well above Alabama's inland average even though the state's property tax rate — among the lowest in the nation — keeps the tax line small. The Port of Mobile and a growing Airbus final-assembly line anchor the local economy.

$960.91 / month

Total interest
$197,927
Total paid
$345,927
Payoff
30.0 years
Balance over YearBalance ends near $0 at 30.$0$37k$74k$111k$148k0612182430Year

How much you need to earn

Mobile, AL's median household income is about $56,000 a year. Under standard 28/36 lending rules that supports a home price around $187,684 with 20% down — comfortably above the $185,000 typical price.

$187,749 max home price

Max loan amount
$150,749
Housing payment budget
$1,307
P&I budget
$979
Bound by
front-end ratio

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

Typical asking rent in Mobile, AL is about $1,250 a month, so owning the median home costs roughly $39 more per month before tax effects, maintenance, and any change in home value.

Frequently asked questions

What is a typical mortgage payment in Mobile, AL?
On the metro's roughly $185,000 typical home with 20% down, the loan is about $148,000. Principal and interest run near $961 a month at today's rate, and Mobile, AL's property tax plus insurance add about $328, for a full payment near $1,289.
Can I afford a home in Mobile, AL on the median income?
The median household income is about $56,000 a year. Under standard 28/36 lending rules that supports a home price around $187,684 with 20% down — above the $185,000 typical price, so a median home is within reach.
Is it cheaper to rent or buy in Mobile, AL?
Typical asking rent is about $1,250 a month. The full owner payment on a median home is near $1,289, so owning costs roughly $39 more per month before tax effects, maintenance, and any appreciation.
How much are property taxes in Mobile, AL?
The effective property tax rate in the core county is about 0.40% of market value — roughly $740 a year on the typical home. Your exact rate depends on the municipality and any exemptions.
Are home prices in Mobile, AL rising or falling?
Home values are up about 4% over the past year. Mobile sits on the Gulf Coast, so hurricane exposure pushes homeowners insurance well above Alabama's inland average even though the state's property tax rate — among the lowest in the nation — keeps the tax line small. The Port of Mobile and a growing Airbus final-assembly line anchor the local economy.

Nearby metros

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