Total monthly cost of ownership
Cost to Own a Home in Bay Minette, Alabama
A $147,000 home here costs
$1,316per month, all in, with 20% down at today's 7.24% 30-year fixed rate. By the 28% rule that takes a household income of about $56,500 a year.
A standard mortgage calculator would have told you $801. The real number is $514 higher every month, 64% more than the payment most buyers budget for.
Compare Baldwin County with anywhere in America · full county breakdown
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Bay Minette against Baldwin County and Alabama
| Measure | Bay Minette | Baldwin County |
|---|---|---|
| Median home value | $146,500 | $287,000 |
| Median property tax | $438 | $881 |
| Effective tax rate | 0.299% | 0.307% |
| Median gross rent | $767 | $1,211 |
| Population | 8,215 | 239,945 |
The weather behind that power bill
Bay Minette sits in Baldwin County, which averages a high of 88.7°F in its hottest month and a low of 39.3°F in its coldest, with 65.76" of precipitation a year and 32% of it in a single three-month stretch. That climate drives 2,193 cooling and 1,800 heating degree days, which is what sets the $187 electricity line above.
See the full climate breakdown for Baldwin County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Baldwin County
Full Baldwin County cost breakdown · Every county in Alabama
Talk to someone who works this market
These are Bay Minette averages. What one specific house costs to own, or what it would sell for today, depends on the street and the condition of the place. We will connect you with one licensed local agent who works Bay Minette every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Bay Minette I already own here and may sell
Common questions
How much does it cost to own a home in Bay Minette?
A $147,000 home in Bay Minette, Alabama costs approximately $1,316 per month with 20% down at 7.24%. That is $801 principal and interest, $37 property tax, $100 homeowners insurance, $255 utilities and $123 set aside for maintenance.
What is the property tax rate in Bay Minette?
Bay Minette has an effective property tax rate of 0.299%, based on a median home value of $146,500 and median real estate taxes of $438. That is in line with the Baldwin County average of 0.307%.
What is the average home price in Bay Minette?
The median owner-occupied home value in Bay Minette, Alabama is $146,500, against $287,000 across Baldwin County.
Is it cheaper to rent or buy in Bay Minette?
Median gross rent in Bay Minette is $767 a month, against $1,316 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
What salary do you need to buy a home in Bay Minette?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Bay Minette, Alabama at today's rate takes a household income of roughly $56,500 a year. That covers the full $1,316 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Bay Minette, US Census Bureau, American Community Survey ACS 2023 5-Year, place-level tables.
- Homeowners insurance, NAIC average premium for Alabama.
- Electricity price, EIA Electric Power Monthly Table 5.6.A.
- Mortgage rate, Freddie Mac PMMS, refreshed weekly.
- Maintenance (1%/yr) and water and sewer ($68/mo) are national estimates. Every assumption above is editable.