Mortgage Calculator & Closing Costs: Birmingham, AL
Mortgage payment estimates, closing cost breakdowns, and homebuying data for Birmingham, Alabama.
Median Home Price
$215K
Population
198K
Avg Monthly Rent
$1,150
Property Tax Rate
0.41% *
* Property tax shown is the Alabama state average effective rate. Actual rates vary by county, city, and school district — check with your local assessor for exact rates in Birmingham.
Birmingham vs Alabama Median
The median home price in Birmingham is $215,000, which is 7% below the Alabama state median of $230,000.
Mortgage Calculator — Birmingham, AL
Pre-filled with Birmingham median home price and Alabama tax/insurance rates. Adjust for your property.
Three down payment scenarios for a $215K home using Alabama's 0.41% tax rate and $1,950/yr insurance.
5% Down
$1,646/mo
Down: $10,750
Loan: $204K
P&I: $1,291
Tax: $73
Insurance: $163
PMI: $119
10% Down
$1,572/mo
Down: $21,500
Loan: $194K
P&I: $1,223
Tax: $73
Insurance: $163
PMI: $113
20% Down (No PMI)
$1,323/mo
Down: $43,000
Loan: $172K
P&I: $1,087
Tax: $73
Insurance: $163
Income needed (28% rule): $57K/year with 20% down, $67K/year with 10% down.
Rent vs Buy in Birmingham
Rent
$1,150/mo
vs
Buy (10% down)
$1,572/mo
Price-to-rent ratio: 15.6 — A ratio between 15-20 means the rent vs buy decision in Birmingham depends heavily on your timeline. If you plan to stay 5+ years, buying likely wins. For shorter stays, renting preserves flexibility.
The median home price in Birmingham is $215,000, 7% below the Alabama state median of $230,000. With a population of 197,575, Birmingham is a mid-size city where home prices tend to be more accessible than in many parts of Alabama.
Property taxes in Alabama average 0.41% annually. This low property tax rate is a significant advantage for Birmingham buyers, keeping your monthly costs well below what you'd pay in higher-tax states. Homeowners insurance in Alabama runs approximately $1,950 per year. This is within the normal range nationally.
Average rent in Birmingham is $1,150/month. The price-to-rent ratio in Birmingham is moderate, meaning the buy-vs-rent decision depends heavily on how long you plan to stay.
Birmingham offers strong affordability. With median prices under $250K, first-time buyers have realistic paths to homeownership, especially combined with Alabama's Alabama Housing Finance Authority Step Up program.
Run a Rent vs Buy analysis
Compare total costs of renting vs buying in Birmingham.