Total monthly cost of ownership
Cost to Own a Home in Bessemer, Alabama
A $130,000 home here costs
$1,239per month, all in, with 20% down at today's 7.32% 30-year fixed rate. By the 28% rule that takes a household income of about $53,000 a year.
A standard mortgage calculator would have told you $714. The real number is $525 higher every month, 73% more than the payment most buyers budget for.
Compare Jefferson 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.
Bessemer against Jefferson County and Alabama
| Measure | Bessemer | Jefferson County |
|---|---|---|
| Median home value | $129,800 | $224,900 |
| Median property tax | $876 | $1,340 |
| Effective tax rate | 0.675% | 0.596% |
| Median gross rent | $922 | $1,132 |
| Population | 25,655 | 669,744 |
The weather behind that power bill
Bessemer sits in Jefferson County, which averages a high of 91.0°F in its hottest month and a low of 34.9°F in its coldest, with 56.62" of precipitation a year and 28% of it in a single three-month stretch. That climate drives 2,177 cooling and 2,534 heating degree days, which is what sets the $187 electricity line above.
See the full climate breakdown for Jefferson County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Jefferson County
Full Jefferson County cost breakdown · Every county in Alabama
Talk to someone who works this market
These are Bessemer 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 Bessemer every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Bessemer I already own here and may sell
Common questions
How much does it cost to own a home in Bessemer?
A $130,000 home in Bessemer, Alabama costs approximately $1,239 per month with 20% down at 7.32%. That is $714 principal and interest, $73 property tax, $89 homeowners insurance, $255 utilities and $108 set aside for maintenance.
What is the property tax rate in Bessemer?
Bessemer has an effective property tax rate of 0.675%, based on a median home value of $129,800 and median real estate taxes of $876. That is higher than the Jefferson County average of 0.596%.
What is the average home price in Bessemer?
The median owner-occupied home value in Bessemer, Alabama is $129,800, against $224,900 across Jefferson County.
Is it cheaper to rent or buy in Bessemer?
Median gross rent in Bessemer is $922 a month, against $1,239 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 Bessemer?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Bessemer, Alabama at today's rate takes a household income of roughly $53,000 a year. That covers the full $1,239 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Bessemer, 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.