The typical owner-occupied home in Centre is worth about $158,400, 25% below the Alabama median of $209,900 and 52% below the national median of $332,700. Owners pay a median $682 a year in property taxes, about 0.43% of their home's value, higher than the Alabama rate of 0.38%. The median household earns $44,664 a year, so the median home costs 3.5 times the median income (3.3 times for Alabama). 70% of occupied homes here are lived in by their owners, and 35% of those owners still have a mortgage.
Centre at a glance
| Centre | Alabama | U.S. | |
|---|---|---|---|
| Median home value | $158,400 | $209,900 | $332,700 |
| Median property tax paid per year | $682 | $788 | $3,119 |
| Property tax as a share of value | 0.43% | 0.38% | 0.94% |
| Median household income | $44,664 | $63,999 | $80,734 |
| Homes lived in by their owners | 70% | 70% | 65% |
| Owner homes with a mortgage | 35% | 54% | 61% |
| Median monthly costs, owners with a mortgage | $1,199 | $1,433 | $1,963 |
| Those costs as a share of the owners' income | 35.6% | 19.0% | 21.0% |
| Median rent | $594 | $1,007 | $1,413 |
| Rent as a share of renters' income | 28.5% | 29.5% | 30.6% |
| Median year homes were built | 1973 | 1986 | 1980 |
| Vacant homes | 16.3% | 14.5% | 10.1% |
| Population | 3,700 | 5,086,768 | 334,922,499 |
What a typical home costs per month in Centre
At this week's average 30-year rate of 7.11%, buying the median Centre home of $158,400 with 20% down costs about $975 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,239, 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 $41,795 for the 20%-down payment. That payment is 26% of the median Centre household income of $44,664; at that income and 20% down, the 28% guideline points to a home of about $169,000.
The median rent here is $594 a month, so owning the median home costs about $381 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $31,680 |
|---|---|
| Loan amount | $126,720 |
| Principal and interest | $852 |
| Property taxes (0.43% a year) | $57 |
| Homeowners insurance (our estimate, 0.5% a year) | $66 |
| PMI | $0 |
| Total per month | $975 |
Change the numbers in the calculator
| Down payment | $5,544 |
|---|---|
| Loan amount | $155,531 |
| Principal and interest | $1,046 |
| Property taxes (0.43% a year) | $57 |
| Homeowners insurance (our estimate, 0.5% a year) | $66 |
| FHA mortgage insurance | $70 |
| Total per month | $1,239 |
Change the numbers in the calculator
Questions about home buying in Centre
What is the median home value in Centre?
About $158,400 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Centre?
Homeowners pay a median $682 a year, which is about 0.43% 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 Centre?
For the median home with 20% down at 7.11%, the payment is about $975 a month. Keeping that under 28% of gross income takes about $41,795 a year.
More about Centre
- Mortgage Refinance in Centre
- Debt Relief in Centre
- Home Equity Loans in Centre
- 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