Total monthly cost of ownership
Cost to Own a Home in Opelika, Alabama
A $214,000 home here costs
$1,846per 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 $79,000 a year.
A standard mortgage calculator would have told you $1,176. The real number is $670 higher every month, 57% more than the payment most buyers budget for.
Compare Lee 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.
Opelika against Lee County and Alabama
| Measure | Opelika | Lee County |
|---|---|---|
| Median home value | $213,700 | $238,700 |
| Median property tax | $1,093 | $1,183 |
| Effective tax rate | 0.511% | 0.496% |
| Median gross rent | $947 | $999 |
| Population | 31,944 | 177,663 |
The weather behind that power bill
Opelika sits in Lee County, which averages a high of 89.2°F in its hottest month and a low of 35.3°F in its coldest, with 56.49" of precipitation a year and 29% of it in a single three-month stretch. That climate drives 1,916 cooling and 2,414 heating degree days, which is what sets the $187 electricity line above.
See the full climate breakdown for Lee County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Lee County
Talk to someone who works this market
These are Opelika 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 Opelika every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Opelika I already own here and may sell
Common questions
How much does it cost to own a home in Opelika?
A $214,000 home in Opelika, Alabama costs approximately $1,846 per month with 20% down at 7.32%. That is $1,176 principal and interest, $91 property tax, $146 homeowners insurance, $255 utilities and $178 set aside for maintenance.
What is the property tax rate in Opelika?
Opelika has an effective property tax rate of 0.511%, based on a median home value of $213,700 and median real estate taxes of $1,093. That is higher than the Lee County average of 0.496%.
What is the average home price in Opelika?
The median owner-occupied home value in Opelika, Alabama is $213,700, against $238,700 across Lee County.
Is it cheaper to rent or buy in Opelika?
Median gross rent in Opelika is $947 a month, against $1,846 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 Opelika?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Opelika, Alabama at today's rate takes a household income of roughly $79,000 a year. That covers the full $1,846 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Opelika, 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.