The typical owner-occupied home in Gilbertown is worth about $160,400, 24% below the Alabama median of $209,900 and 52% below the national median of $332,700. Owners pay a median $469 a year in property taxes, about 0.29% of their home's value, lower than the Alabama rate of 0.38%. The median household earns $70,156 a year, so the median home costs 2.3 times the median income (3.3 times for Alabama). 84% of occupied homes here are lived in by their owners, and 45% of those owners still have a mortgage.
Gilbertown at a glance
| Gilbertown | Alabama | U.S. | |
|---|---|---|---|
| Median home value | $160,400 | $209,900 | $332,700 |
| Median property tax paid per year | $469 | $788 | $3,119 |
| Property tax as a share of value | 0.29% | 0.38% | 0.94% |
| Median household income | $70,156 | $63,999 | $80,734 |
| Homes lived in by their owners | 84% | 70% | 65% |
| Owner homes with a mortgage | 45% | 54% | 61% |
| Median monthly costs, owners with a mortgage | $1,178 | $1,433 | $1,963 |
| Those costs as a share of the owners' income | 21.5% | 19.0% | 21.0% |
| Median rent | $983 | $1,007 | $1,413 |
| Rent as a share of renters' income | 26.6% | 29.5% | 30.6% |
| Median year homes were built | 1987 | 1986 | 1980 |
| Vacant homes | 20.6% | 14.5% | 10.1% |
| Population | 770 | 5,086,768 | 334,922,499 |
What a typical home costs per month in Gilbertown
At this week's average 30-year rate of 7.11%, buying the median Gilbertown home of $160,400 with 20% down costs about $969 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,236, 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 $41,521 for the 20%-down payment. That payment is 17% of the median Gilbertown household income of $70,156; at that income and 20% down, the 28% guideline points to a home of about $271,000.
The median rent here is $983 a month, a little more than the monthly cost of owning the median home with 20% down.
| Down payment | $32,080 |
|---|---|
| Loan amount | $128,320 |
| Principal and interest | $863 |
| Property taxes (0.29% a year) | $39 |
| Homeowners insurance (our estimate, 0.5% a year) | $67 |
| PMI | $0 |
| Total per month | $969 |
Change the numbers in the calculator
| Down payment | $5,614 |
|---|---|
| Loan amount | $157,495 |
| Principal and interest | $1,059 |
| Property taxes (0.29% a year) | $39 |
| Homeowners insurance (our estimate, 0.5% a year) | $67 |
| FHA mortgage insurance | $71 |
| Total per month | $1,236 |
Change the numbers in the calculator
Questions about home buying in Gilbertown
What is the median home value in Gilbertown?
About $160,400 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Gilbertown?
Homeowners pay a median $469 a year, which is about 0.29% 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 Gilbertown?
For the median home with 20% down at 7.11%, the payment is about $969 a month. Keeping that under 28% of gross income takes about $41,521 a year.
More about Gilbertown
- Mortgage Refinance in Gilbertown
- Debt Relief in Gilbertown
- Home Equity Loans in Gilbertown
- 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