Total monthly cost of ownership
Cost to Own a Home in Owens Cross Roads, Alabama
A $206,000 home here costs
$1,765per 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 $75,500 a year.
A standard mortgage calculator would have told you $1,132. The real number is $633 higher every month, 56% more than the payment most buyers budget for.
Compare Madison County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Owens Cross Roads from a five-year rolling sample, and with about 2,678 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 Madison 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.
Owens Cross Roads against Madison County and Alabama
| Measure | Owens Cross Roads | Madison County |
|---|---|---|
| Median home value | $206,100 | $267,800 |
| Median property tax | $787 | $1,081 |
| Effective tax rate | 0.382% | 0.404% |
| Median gross rent | $895 | $1,116 |
| Population | 2,678 | 397,135 |
The weather behind that power bill
Owens Cross Roads 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 Owens Cross Roads 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 Owens Cross Roads every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Owens Cross Roads I already own here and may sell
Common questions
How much does it cost to own a home in Owens Cross Roads?
A $206,000 home in Owens Cross Roads, Alabama costs approximately $1,765 per month with 20% down at 7.32%. That is $1,132 principal and interest, $66 property tax, $141 homeowners insurance, $255 utilities and $172 set aside for maintenance.
What is the property tax rate in Owens Cross Roads?
Owens Cross Roads has an effective property tax rate of 0.382%, based on a median home value of $206,100 and median real estate taxes of $787. That is lower than the Madison County average of 0.404%.
What is the average home price in Owens Cross Roads?
The median owner-occupied home value in Owens Cross Roads, Alabama is $206,100, against $267,800 across Madison County.
Is it cheaper to rent or buy in Owens Cross Roads?
Median gross rent in Owens Cross Roads is $895 a month, against $1,765 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 Owens Cross Roads?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Owens Cross Roads, Alabama at today's rate takes a household income of roughly $75,500 a year. That covers the full $1,765 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Owens Cross Roads, 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.