Total monthly cost of ownership
Cost to Own a Home in Elba, Alabama
A $105,000 home here costs
$952per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $540. The real number is $412 higher every month — 76% 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.
Elba against Coffee County and Alabama
| Measure | Elba | Coffee County |
|---|---|---|
| Median home value | $105,000 | $180,300 |
| Median property tax | $409 | $615 |
| Effective tax rate | 0.390% | 0.341% |
| Median gross rent | $671 | $970 |
| Population | 3,459 | 54,231 |
The weather behind that power bill
Elba sits in Coffee County, which averages a high of 91.5°F in its hottest month and a low of 37.6°F in its coldest, with 57.9" of precipitation a year and 31% of it in a single three-month stretch. That climate drives 2,395 cooling and 1,831 heating degree days, which is what sets the $151 electricity line above.
See the full climate breakdown for Coffee County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Coffee County
Common questions
How much does it cost to own a home in Elba?
A $105,000 home in Elba, Alabama costs approximately $952 per month with 20% down at 6.66%. That is $540 principal and interest, $34 property tax, $72 homeowners insurance, $219 utilities and $88 set aside for maintenance.
What is the property tax rate in Elba?
Elba has an effective property tax rate of 0.390%, based on a median home value of $105,000 and median real estate taxes of $409. That is higher than the Coffee County average of 0.341%.
What is the average home price in Elba?
The median owner-occupied home value in Elba, Alabama is $105,000, against $180,300 across Coffee County.
Is it cheaper to rent or buy in Elba?
Median gross rent in Elba is $671 a month, against $952 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 Elba — 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.