Total monthly cost of ownership
Cost to Own a Home in Selmont-West Selmont, Alabama
A $52,000 home here costs
$633per 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 $27,000 a year.
A standard mortgage calculator would have told you $284. The real number is $350 higher every month, 123% more than the payment most buyers budget for.
Compare Dallas County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Selmont-West Selmont from a five-year rolling sample, and with about 2,121 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 Dallas 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.
Selmont-West Selmont against Dallas County and Alabama
| Measure | Selmont-West Selmont | Dallas County |
|---|---|---|
| Median home value | $52,200 | $97,400 |
| Median property tax | $199 | $413 |
| Effective tax rate | 0.381% | 0.424% |
| Median gross rent | $498 | $749 |
| Population | 2,121 | 37,536 |
The weather behind that power bill
Selmont-West Selmont sits in Dallas County, which averages a high of 91.2°F in its hottest month and a low of 34.7°F in its coldest, with 53.45" of precipitation a year and 30% of it in a single three-month stretch. That climate drives 2,086 cooling and 2,367 heating degree days, which is what sets the $187 electricity line above.
See the full climate breakdown for Dallas County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Dallas County
Talk to someone who works this market
These are Selmont-West Selmont 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 Selmont-West Selmont every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Selmont-West Selmont I already own here and may sell
Common questions
How much does it cost to own a home in Selmont-West Selmont?
A $52,000 home in Selmont-West Selmont, Alabama costs approximately $633 per month with 20% down at 7.24%. That is $284 principal and interest, $17 property tax, $35 homeowners insurance, $255 utilities and $43 set aside for maintenance.
What is the property tax rate in Selmont-West Selmont?
Selmont-West Selmont has an effective property tax rate of 0.381%, based on a median home value of $52,200 and median real estate taxes of $199. That is lower than the Dallas County average of 0.424%.
What is the average home price in Selmont-West Selmont?
The median owner-occupied home value in Selmont-West Selmont, Alabama is $52,200, against $97,400 across Dallas County.
Is it cheaper to rent or buy in Selmont-West Selmont?
Median gross rent in Selmont-West Selmont is $498 a month, against $633 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 Selmont-West Selmont?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Selmont-West Selmont, Alabama at today's rate takes a household income of roughly $27,000 a year. That covers the full $633 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Selmont-West Selmont, 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.