The typical owner-occupied home in Equality is worth about $295,000, 41% above the Alabama median of $209,900 and 11% below the national median of $332,700. Owners pay a median $199 a year in property taxes, about 0.07% of their home's value, lower than the Alabama rate of 0.38%. 100% of occupied homes here are lived in by their owners, and 31% of those owners still have a mortgage.
Equality at a glance
| Equality | Alabama | U.S. | |
|---|---|---|---|
| Median home value | $295,000 | $209,900 | $332,700 |
| Median property tax paid per year | $199 | $788 | $3,119 |
| Property tax as a share of value | 0.07% | 0.38% | 0.94% |
| Median household income | – | $63,999 | $80,734 |
| Homes lived in by their owners | 100% | 70% | 65% |
| Owner homes with a mortgage | 31% | 54% | 61% |
| Median monthly costs, owners with a mortgage | – | $1,433 | $1,963 |
| Median rent | – | $1,007 | $1,413 |
| Median year homes were built | 1990 | 1986 | 1980 |
| Vacant homes | 0.0% | 14.5% | 10.1% |
| Population | 93 | 5,086,768 | 334,922,499 |
What a typical home costs per month in Equality
At this week's average 30-year rate of 7.11%, buying the median Equality home of $295,000 with 20% down costs about $1,728 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $2,219, 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 $74,045 for the 20%-down payment.
| Down payment | $59,000 |
|---|---|
| Loan amount | $236,000 |
| Principal and interest | $1,588 |
| Property taxes (0.07% a year) | $17 |
| Homeowners insurance (our estimate, 0.5% a year) | $123 |
| PMI | $0 |
| Total per month | $1,728 |
Change the numbers in the calculator
| Down payment | $10,325 |
|---|---|
| Loan amount | $289,657 |
| Principal and interest | $1,949 |
| Property taxes (0.07% a year) | $17 |
| Homeowners insurance (our estimate, 0.5% a year) | $123 |
| FHA mortgage insurance | $130 |
| Total per month | $2,219 |
Change the numbers in the calculator
Questions about home buying in Equality
What is the median home value in Equality?
About $295,000 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Equality?
Homeowners pay a median $199 a year, which is about 0.07% 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 Equality?
For the median home with 20% down at 7.11%, the payment is about $1,728 a month. Keeping that under 28% of gross income takes about $74,045 a year.
More about Equality
- Mortgage Refinance in Equality
- Debt Relief in Equality
- Home Equity Loans in Equality
- 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