Total monthly cost of ownership
Cost to Own a Home in Underwood-Petersville, Alabama
A $119,000 home here costs
$1,110per 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 $47,500 a year.
A standard mortgage calculator would have told you $649. The real number is $461 higher every month, 71% more than the payment most buyers budget for.
Compare Lauderdale County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Underwood-Petersville from a five-year rolling sample, and with about 3,049 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 Lauderdale 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.
Underwood-Petersville against Lauderdale County and Alabama
| Measure | Underwood-Petersville | Lauderdale County |
|---|---|---|
| Median home value | $118,900 | $185,800 |
| Median property tax | $311 | $697 |
| Effective tax rate | 0.262% | 0.375% |
| Median gross rent | $749 | $799 |
| Population | 3,049 | 95,037 |
The weather behind that power bill
Underwood-Petersville sits in Lauderdale County, which averages a high of 89.2°F in its hottest month and a low of 31.2°F in its coldest, with 57.56" of precipitation a year and 28% of it in a single three-month stretch. That climate drives 1,651 cooling and 3,190 heating degree days, which is what sets the $187 electricity line above.
See the full climate breakdown for Lauderdale County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Lauderdale County
Full Lauderdale County cost breakdown · Every county in Alabama
Talk to someone who works this market
These are Underwood-Petersville 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 Underwood-Petersville every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Underwood-Petersville I already own here and may sell
Common questions
How much does it cost to own a home in Underwood-Petersville?
A $119,000 home in Underwood-Petersville, Alabama costs approximately $1,110 per month with 20% down at 7.24%. That is $649 principal and interest, $26 property tax, $81 homeowners insurance, $255 utilities and $99 set aside for maintenance.
What is the property tax rate in Underwood-Petersville?
Underwood-Petersville has an effective property tax rate of 0.262%, based on a median home value of $118,900 and median real estate taxes of $311. That is lower than the Lauderdale County average of 0.375%.
What is the average home price in Underwood-Petersville?
The median owner-occupied home value in Underwood-Petersville, Alabama is $118,900, against $185,800 across Lauderdale County.
Is it cheaper to rent or buy in Underwood-Petersville?
Median gross rent in Underwood-Petersville is $749 a month, against $1,110 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 Underwood-Petersville?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Underwood-Petersville, Alabama at today's rate takes a household income of roughly $47,500 a year. That covers the full $1,110 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Underwood-Petersville, 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.