Total monthly cost of ownership
Cost to Own a Home in Geraldine, Alabama
A $199,000 home here costs
$1,698per 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 $73,000 a year.
A standard mortgage calculator would have told you $1,085. The real number is $613 higher every month, 57% more than the payment most buyers budget for.
Compare DeKalb County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Geraldine from a five-year rolling sample, and with about 1,340 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 DeKalb 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.
Geraldine against DeKalb County and Alabama
| Measure | Geraldine | DeKalb County |
|---|---|---|
| Median home value | $199,400 | $135,500 |
| Median property tax | $681 | $458 |
| Effective tax rate | 0.342% | 0.338% |
| Median gross rent | $391 | $683 |
| Population | 1,340 | 71,946 |
The weather behind that power bill
Geraldine sits in DeKalb County, which averages a high of 90.8°F in its hottest month and a low of 31.5°F in its coldest, with 58.03" of precipitation a year and 28% of it in a single three-month stretch. That climate drives 1,940 cooling and 2,922 heating degree days, which is what sets the $187 electricity line above.
See the full climate breakdown for DeKalb County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in DeKalb County
Talk to someone who works this market
These are Geraldine 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 Geraldine every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Geraldine I already own here and may sell
Common questions
How much does it cost to own a home in Geraldine?
A $199,000 home in Geraldine, Alabama costs approximately $1,698 per month with 20% down at 7.24%. That is $1,085 principal and interest, $57 property tax, $136 homeowners insurance, $255 utilities and $166 set aside for maintenance.
What is the property tax rate in Geraldine?
Geraldine has an effective property tax rate of 0.342%, based on a median home value of $199,400 and median real estate taxes of $681. That is in line with the DeKalb County average of 0.338%.
What is the average home price in Geraldine?
The median owner-occupied home value in Geraldine, Alabama is $199,400, against $135,500 across DeKalb County.
Is it cheaper to rent or buy in Geraldine?
Median gross rent in Geraldine is $391 a month, against $1,698 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 Geraldine?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Geraldine, Alabama at today's rate takes a household income of roughly $73,000 a year. That covers the full $1,698 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Geraldine, 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.