Total monthly cost of ownership
Cost to Own a Home in Double Springs, Alabama
A $125,000 home here costs
$1,160per 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 $49,500 a year.
A standard mortgage calculator would have told you $681. The real number is $479 higher every month, 70% more than the payment most buyers budget for.
Compare Winston County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Double Springs from a five-year rolling sample, and with about 1,188 residents that sample is small. The median home value here carries a much wider margin of error than a big-city figure does, so treat it as indicative rather than exact. The Winston County figures are drawn from a far larger sample if you want a steadier number.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Double Springs against Winston County and Alabama
| Measure | Double Springs | Winston County |
|---|---|---|
| Median home value | $125,000 | $110,500 |
| Median property tax | $418 | $363 |
| Effective tax rate | 0.334% | 0.329% |
| Median gross rent | $363 | $744 |
| Population | 1,188 | 23,637 |
The weather behind that power bill
Double Springs sits in Winston County, which averages a high of 88.0°F in its hottest month and a low of 29.4°F in its coldest, with 60.78" of precipitation a year and 28% of it in a single three-month stretch. That climate drives 1,475 cooling and 3,396 heating degree days, which is what sets the $187 electricity line above.
See the full climate breakdown for Winston County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Winston County
No other places of this size are published in Winston County.
Full Winston County cost breakdown · Every county in Alabama
Talk to someone who works this market
These are Double Springs 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 Double Springs every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Double Springs I already own here and may sell
Common questions
How much does it cost to own a home in Double Springs?
A $125,000 home in Double Springs, Alabama costs approximately $1,160 per month with 20% down at 7.24%. That is $681 principal and interest, $35 property tax, $85 homeowners insurance, $255 utilities and $104 set aside for maintenance.
What is the property tax rate in Double Springs?
Double Springs has an effective property tax rate of 0.334%, based on a median home value of $125,000 and median real estate taxes of $418. That is in line with the Winston County average of 0.329%.
What is the average home price in Double Springs?
The median owner-occupied home value in Double Springs, Alabama is $125,000, against $110,500 across Winston County.
Is it cheaper to rent or buy in Double Springs?
Median gross rent in Double Springs is $363 a month, against $1,160 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 Double Springs?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Double Springs, Alabama at today's rate takes a household income of roughly $49,500 a year. That covers the full $1,160 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Double Springs, 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.