Total monthly cost of ownership
Cost to Own a Home in Goodwater, Alabama
A $82,000 home here costs
$782per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $422. The real number is $360 higher every month — 86% 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.
Goodwater against Coosa County and Alabama
| Measure | Goodwater | Coosa County |
|---|---|---|
| Median home value | $81,900 | $111,800 |
| Median property tax | $209 | $303 |
| Effective tax rate | 0.255% | 0.271% |
| Median gross rent | $607 | $682 |
| Population | 1,375 | 10,323 |
The weather behind that power bill
Goodwater sits in Coosa County, which averages a high of 88.7°F in its hottest month and a low of 34.6°F in its coldest, with 60.19" of precipitation a year and 29% of it in a single three-month stretch. That climate drives 1,724 cooling and 2,611 heating degree days, which is what sets the $151 electricity line above.
See the full climate breakdown for Coosa County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Coosa County
Common questions
How much does it cost to own a home in Goodwater?
A $82,000 home in Goodwater, Alabama costs approximately $782 per month with 20% down at 6.66%. That is $422 principal and interest, $17 property tax, $56 homeowners insurance, $219 utilities and $68 set aside for maintenance.
What is the property tax rate in Goodwater?
Goodwater has an effective property tax rate of 0.255%, based on a median home value of $81,900 and median real estate taxes of $209. That is lower than the Coosa County average of 0.271%.
What is the average home price in Goodwater?
The median owner-occupied home value in Goodwater, Alabama is $81,900, against $111,800 across Coosa County.
Is it cheaper to rent or buy in Goodwater?
Median gross rent in Goodwater is $607 a month, against $782 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 Goodwater — 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.