Total monthly cost of ownership
Cost to Own a Home in Pike Road, Alabama
A $375,000 home here costs
$2,860per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $1,928. The real number is $932 higher every month — 48% 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.
Pike Road against Montgomery County and Alabama
| Measure | Pike Road | Montgomery County |
|---|---|---|
| Median home value | $375,000 | $160,100 |
| Median property tax | $1,736 | $598 |
| Effective tax rate | 0.463% | 0.374% |
| Median gross rent | $1,615 | $1,061 |
| Population | 10,103 | 227,197 |
The weather behind that power bill
Pike Road sits in Montgomery County, which averages a high of 94.2°F in its hottest month and a low of 40.0°F in its coldest, with 51.77" of precipitation a year and 29% of it in a single three-month stretch. That climate drives 2,847 cooling and 1,755 heating degree days, which is what sets the $151 electricity line above.
See the full climate breakdown for Montgomery County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Montgomery County
Full Montgomery County cost breakdown · Every county in Alabama
Common questions
How much does it cost to own a home in Pike Road?
A $375,000 home in Pike Road, Alabama costs approximately $2,860 per month with 20% down at 6.66%. That is $1,928 principal and interest, $145 property tax, $256 homeowners insurance, $219 utilities and $313 set aside for maintenance.
What is the property tax rate in Pike Road?
Pike Road has an effective property tax rate of 0.463%, based on a median home value of $375,000 and median real estate taxes of $1,736. That is higher than the Montgomery County average of 0.374%.
What is the average home price in Pike Road?
The median owner-occupied home value in Pike Road, Alabama is $375,000, against $160,100 across Montgomery County.
Is it cheaper to rent or buy in Pike Road?
Median gross rent in Pike Road is $1,615 a month, against $2,860 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 Pike Road — 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.