Total monthly cost of ownership
Cost to Own a Home in Decatur, Alabama
A $191,000 home here costs
$1,653per 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 $71,000 a year.
A standard mortgage calculator would have told you $1,050. The real number is $603 higher every month, 57% more than the payment most buyers budget for.
Compare Morgan 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.
Decatur against Morgan County and Alabama
| Measure | Decatur | Morgan County |
|---|---|---|
| Median home value | $190,500 | $193,000 |
| Median property tax | $708 | $674 |
| Effective tax rate | 0.372% | 0.349% |
| Median gross rent | $861 | $835 |
| Population | 57,760 | 123,742 |
Decatur extends across 2 counties. Figures here use Morgan County, where most of its housing sits.
The weather behind that power bill
Decatur sits in Morgan County, which averages a high of 91.5°F in its hottest month and a low of 33.1°F in its coldest, with 54.29" of precipitation a year and 29% of it in a single three-month stretch. That climate drives 2,107 cooling and 2,831 heating degree days, which is what sets the $187 electricity line above.
See the full climate breakdown for Morgan County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Morgan County
Talk to someone who works this market
These are Decatur 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 Decatur every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Decatur I already own here and may sell
Common questions
How much does it cost to own a home in Decatur?
A $191,000 home in Decatur, Alabama costs approximately $1,653 per month with 20% down at 7.32%. That is $1,050 principal and interest, $59 property tax, $130 homeowners insurance, $255 utilities and $159 set aside for maintenance.
What is the property tax rate in Decatur?
Decatur has an effective property tax rate of 0.372%, based on a median home value of $190,500 and median real estate taxes of $708. That is higher than the Morgan County average of 0.349%.
What is the average home price in Decatur?
The median owner-occupied home value in Decatur, Alabama is $190,500, against $193,000 across Morgan County.
Is it cheaper to rent or buy in Decatur?
Median gross rent in Decatur is $861 a month, against $1,653 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 Decatur?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Decatur, Alabama at today's rate takes a household income of roughly $71,000 a year. That covers the full $1,653 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Decatur, 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.