The typical owner-occupied home in Silas is worth about $87,600, 58% below the Alabama median of $209,900 and 74% below the national median of $332,700. Owners pay a median $199 a year in property taxes, about 0.23% of their home's value, lower than the Alabama rate of 0.38%. The median household earns $66,250 a year, so the median home costs 1.3 times the median income (3.3 times for Alabama). 84% of occupied homes here are lived in by their owners, and 28% of those owners still have a mortgage.
Silas at a glance
| Silas | Alabama | U.S. | |
|---|---|---|---|
| Median home value | $87,600 | $209,900 | $332,700 |
| Median property tax paid per year | $199 | $788 | $3,119 |
| Property tax as a share of value | 0.23% | 0.38% | 0.94% |
| Median household income | $66,250 | $63,999 | $80,734 |
| Homes lived in by their owners | 84% | 70% | 65% |
| Owner homes with a mortgage | 28% | 54% | 61% |
| Median monthly costs, owners with a mortgage | $1,250 | $1,433 | $1,963 |
| Those costs as a share of the owners' income | 22.5% | 19.0% | 21.0% |
| Median rent | – | $1,007 | $1,413 |
| Median year homes were built | 1981 | 1986 | 1980 |
| Vacant homes | 21.5% | 14.5% | 10.1% |
| Population | 559 | 5,086,768 | 334,922,499 |
What a typical home costs per month in Silas
At this week's average 30-year rate of 7.11%, buying the median Silas home of $87,600 with 20% down costs about $525 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $671, 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 $22,488 for the 20%-down payment. That payment is 10% of the median Silas household income of $66,250; at that income and 20% down, the 28% guideline points to a home of about $258,000.
| Down payment | $17,520 |
|---|---|
| Loan amount | $70,080 |
| Principal and interest | $471 |
| Property taxes (0.23% a year) | $17 |
| Homeowners insurance (our estimate, 0.5% a year) | $36 |
| PMI | $0 |
| Total per month | $525 |
Change the numbers in the calculator
| Down payment | $3,066 |
|---|---|
| Loan amount | $86,013 |
| Principal and interest | $579 |
| Property taxes (0.23% a year) | $17 |
| Homeowners insurance (our estimate, 0.5% a year) | $36 |
| FHA mortgage insurance | $39 |
| Total per month | $671 |
Change the numbers in the calculator
Questions about home buying in Silas
What is the median home value in Silas?
About $87,600 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Silas?
Homeowners pay a median $199 a year, which is about 0.23% 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 Silas?
For the median home with 20% down at 7.11%, the payment is about $525 a month. Keeping that under 28% of gross income takes about $22,488 a year.
More about Silas
- Mortgage Refinance in Silas
- Debt Relief in Silas
- Home Equity Loans in Silas
- 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