Home Affordability in Huntsville, AL
The median home price in Huntsville is $290,000 with a median household income of $56,833. Housing is significantly stretched relative to local incomes.
Median Home Price
$290,000
Median Income
$56,833
Price-to-Income Ratio
5.1x
Est. Affordable Home
$221,000
Property Tax Rate
0.40%
Annual Property Tax
$1,160
Sales Tax Rate
9.00%
Cost of Living Index
91
Buying a Home in Huntsville
Based on the 28% rule (spending no more than 28% of gross income on housing), a household earning the median income of $56,833 in Huntsville can afford a monthly housing payment of approximately $1,326. This translates to a home price of roughly $221,000, which is below the median home price of $290,000 — many households may need a higher income, larger down payment, or should consider more affordable neighborhoods.
Property taxes on a median-priced home in Huntsville would be approximately $1,160 per year ($97/month) at the effective rate of 0.40%.
Down Payment Scenarios
| Down Payment | Amount | Loan Amount | PMI Required |
|---|---|---|---|
| 3% | $8,700 | $281,300 | Yes |
| 5% | $14,500 | $275,500 | Yes |
| 10% | $29,000 | $261,000 | Yes |
| 20% | $58,000 | $232,000 | No |
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