The typical owner-occupied home in Lanett is worth about $95,600, 54% below the Alabama median of $209,900 and 71% below the national median of $332,700. Owners pay a median $450 a year in property taxes, about 0.47% of their home's value, higher than the Alabama rate of 0.38%. The median household earns $42,357 a year, so the median home costs 2.3 times the median income (3.3 times for Alabama). 60% of occupied homes here are lived in by their owners, and 45% of those owners still have a mortgage.
Lanett at a glance
| Lanett | Alabama | U.S. | |
|---|---|---|---|
| Median home value | $95,600 | $209,900 | $332,700 |
| Median property tax paid per year | $450 | $788 | $3,119 |
| Property tax as a share of value | 0.47% | 0.38% | 0.94% |
| Median household income | $42,357 | $63,999 | $80,734 |
| Homes lived in by their owners | 60% | 70% | 65% |
| Owner homes with a mortgage | 45% | 54% | 61% |
| Median monthly costs, owners with a mortgage | $1,044 | $1,433 | $1,963 |
| Those costs as a share of the owners' income | 21.1% | 19.0% | 21.0% |
| Median rent | $940 | $1,007 | $1,413 |
| Rent as a share of renters' income | 24.5% | 29.5% | 30.6% |
| Median year homes were built | 1966 | 1986 | 1980 |
| Vacant homes | 17.6% | 14.5% | 10.1% |
| Population | 6,814 | 5,086,768 | 334,922,499 |
What a typical home costs per month in Lanett
At this week's average 30-year rate of 7.11%, buying the median Lanett home of $95,600 with 20% down costs about $592 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $751, because the loan is bigger and FHA adds mortgage insurance.
Lenders usually want housing costs under about 28% of gross income, which means an income of roughly $25,362 for the 20%-down payment. That payment is 17% of the median Lanett household income of $42,357; at that income and 20% down, the 28% guideline points to a home of about $160,000.
The median rent here is $940 a month, a little more than the monthly cost of owning the median home with 20% down.
| Down payment | $19,120 |
|---|---|
| Loan amount | $76,480 |
| Principal and interest | $514 |
| Property taxes (0.47% a year) | $37 |
| Homeowners insurance (our estimate, 0.5% a year) | $40 |
| PMI | $0 |
| Total per month | $592 |
Change the numbers in the calculator
| Down payment | $3,346 |
|---|---|
| Loan amount | $93,868 |
| Principal and interest | $631 |
| Property taxes (0.47% a year) | $37 |
| Homeowners insurance (our estimate, 0.5% a year) | $40 |
| FHA mortgage insurance | $42 |
| Total per month | $751 |
Change the numbers in the calculator
Questions about home buying in Lanett
What is the median home value in Lanett?
About $95,600 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Lanett?
Homeowners pay a median $450 a year, which is about 0.47% of the median home value. Your bill depends on your home's assessed value and local rates.
What income do you need to buy a home in Lanett?
For the median home with 20% down at 7.11%, the payment is about $592 a month. Keeping that under 28% of gross income takes about $25,362 a year.
More about Lanett
- Mortgage Refinance in Lanett
- Debt Relief in Lanett
- Home Equity Loans in Lanett
- Guides and quotes for mortgage refinance on our sister site, MortgageRefinance.com
Sources: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates; Freddie Mac Primary Mortgage Market Survey, week of November 12, 2026. Estimates for small places have wide margins of error. About our data