Total monthly cost of ownership
Cost to Own a Home in Slocomb, Alabama
A $96,000 home here costs
$944per 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 $40,500 a year.
A standard mortgage calculator would have told you $523. The real number is $421 higher every month, 80% more than the payment most buyers budget for.
Compare Geneva County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Slocomb from a five-year rolling sample, and with about 1,995 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 Geneva 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.
Slocomb against Geneva County and Alabama
| Measure | Slocomb | Geneva County |
|---|---|---|
| Median home value | $96,000 | $120,200 |
| Median property tax | $250 | $382 |
| Effective tax rate | 0.260% | 0.318% |
| Median gross rent | $764 | $757 |
| Population | 1,995 | 26,726 |
The weather behind that power bill
Slocomb sits in Geneva County, which averages a high of 92.3°F in its hottest month and a low of 34.8°F in its coldest, with 62.26" of precipitation a year and 29% of it in a single three-month stretch. That climate drives 2,225 cooling and 2,038 heating degree days, which is what sets the $187 electricity line above.
See the full climate breakdown for Geneva County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Geneva County
Talk to someone who works this market
These are Slocomb 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 Slocomb every week. Free, no obligation, and we never sell your details to a list.
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Common questions
How much does it cost to own a home in Slocomb?
A $96,000 home in Slocomb, Alabama costs approximately $944 per month with 20% down at 7.24%. That is $523 principal and interest, $21 property tax, $66 homeowners insurance, $255 utilities and $80 set aside for maintenance.
What is the property tax rate in Slocomb?
Slocomb has an effective property tax rate of 0.260%, based on a median home value of $96,000 and median real estate taxes of $250. That is lower than the Geneva County average of 0.318%.
What is the average home price in Slocomb?
The median owner-occupied home value in Slocomb, Alabama is $96,000, against $120,200 across Geneva County.
Is it cheaper to rent or buy in Slocomb?
Median gross rent in Slocomb is $764 a month, against $944 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 Slocomb?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Slocomb, Alabama at today's rate takes a household income of roughly $40,500 a year. That covers the full $944 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Slocomb, 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.