Total monthly cost of ownership
Cost to Own a Home in Valley, Alabama
A $131,000 home here costs
$1,212per 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 $52,000 a year.
A standard mortgage calculator would have told you $714. The real number is $498 higher every month, 70% more than the payment most buyers budget for.
Compare Chambers County with anywhere in America · full county breakdown
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Valley against Chambers County and Alabama
| Measure | Valley | Chambers County |
|---|---|---|
| Median home value | $130,500 | $129,700 |
| Median property tax | $530 | $496 |
| Effective tax rate | 0.406% | 0.382% |
| Median gross rent | $1,024 | $850 |
| Population | 10,406 | 34,450 |
The weather behind that power bill
Valley sits in Chambers County, which averages a high of 90.0°F in its hottest month and a low of 30.2°F in its coldest, with 56.52" of precipitation a year and 30% of it in a single three-month stretch. That climate drives 1,602 cooling and 2,958 heating degree days, which is what sets the $187 electricity line above.
See the full climate breakdown for Chambers County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Chambers County
Full Chambers County cost breakdown · Every county in Alabama
Talk to someone who works this market
These are Valley 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 Valley every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Valley I already own here and may sell
Common questions
How much does it cost to own a home in Valley?
A $131,000 home in Valley, Alabama costs approximately $1,212 per month with 20% down at 7.24%. That is $714 principal and interest, $44 property tax, $89 homeowners insurance, $255 utilities and $109 set aside for maintenance.
What is the property tax rate in Valley?
Valley has an effective property tax rate of 0.406%, based on a median home value of $130,500 and median real estate taxes of $530. That is higher than the Chambers County average of 0.382%.
What is the average home price in Valley?
The median owner-occupied home value in Valley, Alabama is $130,500, against $129,700 across Chambers County.
Is it cheaper to rent or buy in Valley?
Median gross rent in Valley is $1,024 a month, against $1,212 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 Valley?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Valley, Alabama at today's rate takes a household income of roughly $52,000 a year. That covers the full $1,212 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Valley, 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.