The typical home in Selma, AL is worth about $105,000.
With 20% down that's a loan near $84,000 — the calculator
is pre-filled with that figure. Selma's Edmund Pettus Bridge, the site of the 1965 'Bloody Sunday' march that helped pass the Voting Rights Act, draws civil-rights tourism to a city whose population and tax base have shrunk for decades, keeping home prices among the lowest in the country.
$545.38 / month
Total interest
$112,338
Total paid
$196,338
Payoff
30.0 years
How much you need to earn
Selma, AL's median household income is about
$34,000 a year. Under standard 28/36
lending rules that supports a home price around
$109,562 with 20% down —
comfortably above the $105,000 typical price.
Typical asking rent in Selma, AL is about $700 a month, so owning the median home costs roughly
$64 more per month before tax
effects, maintenance, and any change in home value.
Frequently asked questions
What is a typical mortgage payment in Selma, AL?
On the metro's roughly $105,000 typical home with 20% down, the loan is about $84,000. Principal and interest run near $545 a month at today's rate, and Selma, AL's property tax plus insurance add about $218, for a full payment near $764.
Can I afford a home in Selma, AL on the median income?
The median household income is about $34,000 a year. Under standard 28/36 lending rules that supports a home price around $109,562 with 20% down — above the $105,000 typical price, so a median home is within reach.
Is it cheaper to rent or buy in Selma, AL?
Typical asking rent is about $700 a month. The full owner payment on a median home is near $764, so owning costs roughly $64 more per month before tax effects, maintenance, and any appreciation.
How much are property taxes in Selma, AL?
The effective property tax rate in the core county is about 0.40% of market value — roughly $420 a year on the typical home. Your exact rate depends on the municipality and any exemptions.
Are home prices in Selma, AL rising or falling?
Home values are roughly flat over the past year. Selma's Edmund Pettus Bridge, the site of the 1965 'Bloody Sunday' march that helped pass the Voting Rights Act, draws civil-rights tourism to a city whose population and tax base have shrunk for decades, keeping home prices among the lowest in the country.