Total monthly cost of ownership
Cost to Own a Home in Moores Mill, Alabama
A $244,000 home here costs
$2,029per month, all in, with 20% down at today's 7.32% 30-year fixed rate. By the 28% rule that takes a household income of about $87,000 a year.
A standard mortgage calculator would have told you $1,341. The real number is $689 higher every month, 51% more than the payment most buyers budget for.
Compare Madison 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.
Moores Mill against Madison County and Alabama
| Measure | Moores Mill | Madison County |
|---|---|---|
| Median home value | $243,800 | $267,800 |
| Median property tax | $758 | $1,081 |
| Effective tax rate | 0.311% | 0.404% |
| Median gross rent | $1,235 | $1,116 |
| Population | 6,041 | 397,135 |
The weather behind that power bill
Moores Mill sits in Madison County, which averages a high of 91.5°F in its hottest month and a low of 33.1°F in its coldest, with 54.29" of precipitation a year and 29% of it in a single three-month stretch. That climate drives 2,107 cooling and 2,831 heating degree days, which is what sets the $187 electricity line above.
See the full climate breakdown for Madison County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Madison County
Full Madison County cost breakdown · Every county in Alabama
Talk to someone who works this market
These are Moores Mill 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 Moores Mill every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Moores Mill I already own here and may sell
Common questions
How much does it cost to own a home in Moores Mill?
A $244,000 home in Moores Mill, Alabama costs approximately $2,029 per month with 20% down at 7.32%. That is $1,341 principal and interest, $63 property tax, $167 homeowners insurance, $255 utilities and $203 set aside for maintenance.
What is the property tax rate in Moores Mill?
Moores Mill has an effective property tax rate of 0.311%, based on a median home value of $243,800 and median real estate taxes of $758. That is lower than the Madison County average of 0.404%.
What is the average home price in Moores Mill?
The median owner-occupied home value in Moores Mill, Alabama is $243,800, against $267,800 across Madison County.
Is it cheaper to rent or buy in Moores Mill?
Median gross rent in Moores Mill is $1,235 a month, against $2,029 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 Moores Mill?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Moores Mill, Alabama at today's rate takes a household income of roughly $87,000 a year. That covers the full $2,029 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Moores Mill, 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.