Total monthly cost of ownership
Cost to Own a Home in Meadowbrook, Alabama
A $390,000 home here costs
$3,095per 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 $132,500 a year.
A standard mortgage calculator would have told you $2,126. The real number is $969 higher every month, 46% more than the payment most buyers budget for.
Compare Shelby County with anywhere in America · full county breakdown
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Meadowbrook against Shelby County and Alabama
| Measure | Meadowbrook | Shelby County |
|---|---|---|
| Median home value | $390,100 | $298,700 |
| Median property tax | $1,475 | $1,343 |
| Effective tax rate | 0.378% | 0.450% |
| Median gross rent | $1,276 | $1,348 |
| Population | 8,939 | 226,955 |
The weather behind that power bill
Meadowbrook sits in Shelby County, which averages a high of 91.1°F in its hottest month and a low of 35.6°F in its coldest, with 56.19" of precipitation a year and 29% of it in a single three-month stretch. That climate drives 2,181 cooling and 2,378 heating degree days, which is what sets the $187 electricity line above.
See the full climate breakdown for Shelby County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Shelby County
Talk to someone who works this market
These are Meadowbrook 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 Meadowbrook every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Meadowbrook I already own here and may sell
Common questions
How much does it cost to own a home in Meadowbrook?
A $390,000 home in Meadowbrook, Alabama costs approximately $3,095 per month with 20% down at 7.24%. That is $2,126 principal and interest, $123 property tax, $266 homeowners insurance, $255 utilities and $325 set aside for maintenance.
What is the property tax rate in Meadowbrook?
Meadowbrook has an effective property tax rate of 0.378%, based on a median home value of $390,100 and median real estate taxes of $1,475. That is lower than the Shelby County average of 0.450%.
What is the average home price in Meadowbrook?
The median owner-occupied home value in Meadowbrook, Alabama is $390,100, against $298,700 across Shelby County.
Is it cheaper to rent or buy in Meadowbrook?
Median gross rent in Meadowbrook is $1,276 a month, against $3,095 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 Meadowbrook?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Meadowbrook, Alabama at today's rate takes a household income of roughly $132,500 a year. That covers the full $3,095 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Meadowbrook, 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.