Total monthly cost of ownership
Cost to Own a Home in Grand Bay, Alabama
A $144,000 home here costs
$1,318per month, all in, with 20% down at today's 7.40% 30-year fixed rate. By the 28% rule that takes a household income of about $56,500 a year.
A standard mortgage calculator would have told you $798. The real number is $521 higher every month, 65% more than the payment most buyers budget for.
Compare Mobile County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Grand Bay from a five-year rolling sample, and with about 3,765 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 Mobile 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.
Grand Bay against Mobile County and Alabama
| Measure | Grand Bay | Mobile County |
|---|---|---|
| Median home value | $143,800 | $176,600 |
| Median property tax | $562 | $849 |
| Effective tax rate | 0.391% | 0.481% |
| Median gross rent | $963 | $1,021 |
| Population | 3,765 | 413,162 |
The weather behind that power bill
Grand Bay sits in Mobile County, which averages a high of 90.9°F in its hottest month and a low of 40.7°F in its coldest, with 67.08" of precipitation a year and 31% of it in a single three-month stretch. That climate drives 2,598 cooling and 1,616 heating degree days, which is what sets the $187 electricity line above.
See the full climate breakdown for Mobile County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Mobile County
Talk to someone who works this market
These are Grand Bay 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 Grand Bay every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Grand Bay I already own here and may sell
Common questions
How much does it cost to own a home in Grand Bay?
A $144,000 home in Grand Bay, Alabama costs approximately $1,318 per month with 20% down at 7.4%. That is $798 principal and interest, $47 property tax, $98 homeowners insurance, $255 utilities and $120 set aside for maintenance.
What is the property tax rate in Grand Bay?
Grand Bay has an effective property tax rate of 0.391%, based on a median home value of $143,800 and median real estate taxes of $562. That is lower than the Mobile County average of 0.481%.
What is the average home price in Grand Bay?
The median owner-occupied home value in Grand Bay, Alabama is $143,800, against $176,600 across Mobile County.
Is it cheaper to rent or buy in Grand Bay?
Median gross rent in Grand Bay is $963 a month, against $1,318 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 Grand Bay?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Grand Bay, Alabama at today's rate takes a household income of roughly $56,500 a year. That covers the full $1,318 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Grand Bay, 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.