Total monthly cost of ownership
Cost to Own a Home in Decatur, Alabama
A $191,000 home here costs
$1,549per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $982. The real number is $567 higher every month — 58% more than the payment most buyers budget for.
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 $151 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
Common questions
How much does it cost to own a home in Decatur?
A $191,000 home in Decatur, Alabama costs approximately $1,549 per month with 20% down at 6.66%. That is $982 principal and interest, $59 property tax, $130 homeowners insurance, $219 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 $1,549 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
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.