Home Affordability in Mobile, AL
The median home price in Mobile is $140,000 with a median household income of $38,776. Housing is moderately affordable relative to local incomes.
Median Home Price
$140,000
Median Income
$38,776
Price-to-Income Ratio
3.6x
Est. Affordable Home
$151,000
Property Tax Rate
0.40%
Annual Property Tax
$560
Sales Tax Rate
10.00%
Cost of Living Index
82
Buying a Home in Mobile
Based on the 28% rule (spending no more than 28% of gross income on housing), a household earning the median income of $38,776 in Mobile can afford a monthly housing payment of approximately $905. This translates to a home price of roughly $151,000, which is at or above the median home price — the typical home is within reach for a median-income household.
Property taxes on a median-priced home in Mobile would be approximately $560 per year ($47/month) at the effective rate of 0.40%.
Down Payment Scenarios
| Down Payment | Amount | Loan Amount | PMI Required |
|---|---|---|---|
| 3% | $4,200 | $135,800 | Yes |
| 5% | $7,000 | $133,000 | Yes |
| 10% | $14,000 | $126,000 | Yes |
| 20% | $28,000 | $112,000 | No |
Use Our Home Affordability Calculator
Get a personalized estimate based on your income, debts, down payment, and credit score.
Calculate Now