The typical owner-occupied home in Red Level is worth about $101,300, 52% below the Alabama median of $209,900 and 70% below the national median of $332,700. Owners pay a median $300 a year in property taxes, about 0.30% of their home's value, lower than the Alabama rate of 0.38%. The median household earns $38,750 a year, so the median home costs 2.6 times the median income (3.3 times for Alabama). 74% of occupied homes here are lived in by their owners, and 39% of those owners still have a mortgage.
Red Level at a glance
| Red Level | Alabama | U.S. | |
|---|---|---|---|
| Median home value | $101,300 | $209,900 | $332,700 |
| Median property tax paid per year | $300 | $788 | $3,119 |
| Property tax as a share of value | 0.30% | 0.38% | 0.94% |
| Median household income | $38,750 | $63,999 | $80,734 |
| Homes lived in by their owners | 74% | 70% | 65% |
| Owner homes with a mortgage | 39% | 54% | 61% |
| Median monthly costs, owners with a mortgage | $931 | $1,433 | $1,963 |
| Those costs as a share of the owners' income | 15.0% | 19.0% | 21.0% |
| Median rent | $730 | $1,007 | $1,413 |
| Rent as a share of renters' income | 27.5% | 29.5% | 30.6% |
| Median year homes were built | 1973 | 1986 | 1980 |
| Vacant homes | 14.0% | 14.5% | 10.1% |
| Population | 621 | 5,086,768 | 334,922,499 |
What a typical home costs per month in Red Level
At this week's average 30-year rate of 7.11%, buying the median Red Level home of $101,300 with 20% down costs about $613 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $781, 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 $26,258 for the 20%-down payment. That payment is 19% of the median Red Level household income of $38,750; at that income and 20% down, the 28% guideline points to a home of about $149,000.
The median rent here is $730 a month, a little more than the monthly cost of owning the median home with 20% down.
| Down payment | $20,260 |
|---|---|
| Loan amount | $81,040 |
| Principal and interest | $545 |
| Property taxes (0.30% a year) | $25 |
| Homeowners insurance (our estimate, 0.5% a year) | $42 |
| PMI | $0 |
| Total per month | $613 |
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| Down payment | $3,546 |
|---|---|
| Loan amount | $99,465 |
| Principal and interest | $669 |
| Property taxes (0.30% a year) | $25 |
| Homeowners insurance (our estimate, 0.5% a year) | $42 |
| FHA mortgage insurance | $45 |
| Total per month | $781 |
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Questions about home buying in Red Level
What is the median home value in Red Level?
About $101,300 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Red Level?
Homeowners pay a median $300 a year, which is about 0.30% 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 Red Level?
For the median home with 20% down at 7.11%, the payment is about $613 a month. Keeping that under 28% of gross income takes about $26,258 a year.
More about Red Level
- Mortgage Refinance in Red Level
- Debt Relief in Red Level
- Home Equity Loans in Red Level
- 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