Total monthly cost of ownership
Cost to Own a Home in Hamilton, Alabama
A $104,000 home here costs
$941per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $535. The real number is $406 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.
Hamilton against Marion County and Alabama
| Measure | Hamilton | Marion County |
|---|---|---|
| Median home value | $103,500 | $104,300 |
| Median property tax | $357 | $308 |
| Effective tax rate | 0.345% | 0.295% |
| Median gross rent | $544 | $583 |
| Population | 6,907 | 29,190 |
The weather behind that power bill
Hamilton sits in Marion County, which averages a high of 91.5°F in its hottest month and a low of 28.3°F in its coldest, with 61.71" of precipitation a year and 29% of it in a single three-month stretch. That climate drives 1,782 cooling and 3,303 heating degree days, which is what sets the $151 electricity line above.
See the full climate breakdown for Marion County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Marion County
Common questions
How much does it cost to own a home in Hamilton?
A $104,000 home in Hamilton, Alabama costs approximately $941 per month with 20% down at 6.66%. That is $535 principal and interest, $30 property tax, $71 homeowners insurance, $219 utilities and $87 set aside for maintenance.
What is the property tax rate in Hamilton?
Hamilton has an effective property tax rate of 0.345%, based on a median home value of $103,500 and median real estate taxes of $357. That is higher than the Marion County average of 0.295%.
What is the average home price in Hamilton?
The median owner-occupied home value in Hamilton, Alabama is $103,500, against $104,300 across Marion County.
Is it cheaper to rent or buy in Hamilton?
Median gross rent in Hamilton is $544 a month, against $941 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 Hamilton — 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.