Mortgage Calculator & Closing Costs: Phenix City, AL
Mortgage payment estimates, closing cost breakdowns, and homebuying data for Phenix City, Alabama.
Median Home Price
$185K
Population
39K
Avg Monthly Rent
$950
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 Phenix City.
Phenix City vs Alabama Median
The median home price in Phenix City is $185,000, which is 20% below the Alabama state median of $230,000.
Mortgage Calculator — Phenix City, AL
Pre-filled with Phenix City median home price and Alabama tax/insurance rates. Adjust for your property.
Three down payment scenarios for a $185K home using Alabama's 0.41% tax rate and $1,950/yr insurance.
5% Down
$1,439/mo
Down: $9,250
Loan: $176K
P&I: $1,111
Tax: $63
Insurance: $163
PMI: $103
10% Down
$1,375/mo
Down: $18,500
Loan: $167K
P&I: $1,052
Tax: $63
Insurance: $163
PMI: $97
20% Down (No PMI)
$1,161/mo
Down: $37,000
Loan: $148K
P&I: $935
Tax: $63
Insurance: $163
Income needed (28% rule): $50K/year with 20% down, $59K/year with 10% down.
Rent vs Buy in Phenix City
Rent
$950/mo
vs
Buy (10% down)
$1,375/mo
Price-to-rent ratio: 16.2 — A ratio between 15-20 means the rent vs buy decision in Phenix City 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 Phenix City is $185,000, 20% below the Alabama state median of $230,000. With a population of 38,816, Phenix City is a smaller market 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 Phenix City 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 Phenix City is $950/month. The price-to-rent ratio in Phenix City is moderate, meaning the buy-vs-rent decision depends heavily on how long you plan to stay.
Phenix City 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 Phenix City.