The typical owner-occupied home in Petrey is worth about $143,800, 31% below the Alabama median of $209,900 and 57% below the national median of $332,700. Owners pay a median $199 a year in property taxes, about 0.14% of their home's value, lower than the Alabama rate of 0.38%. The median household earns $67,321 a year, so the median home costs 2.1 times the median income (3.3 times for Alabama). 33% of occupied homes here are lived in by their owners, and 29% of those owners still have a mortgage.
Petrey at a glance
| Petrey | Alabama | U.S. | |
|---|---|---|---|
| Median home value | $143,800 | $209,900 | $332,700 |
| Median property tax paid per year | $199 | $788 | $3,119 |
| Property tax as a share of value | 0.14% | 0.38% | 0.94% |
| Median household income | $67,321 | $63,999 | $80,734 |
| Homes lived in by their owners | 33% | 70% | 65% |
| Owner homes with a mortgage | 29% | 54% | 61% |
| Median monthly costs, owners with a mortgage | – | $1,433 | $1,963 |
| Median rent | – | $1,007 | $1,413 |
| Median year homes were built | 1957 | 1986 | 1980 |
| Vacant homes | 0.0% | 14.5% | 10.1% |
| Population | 39 | 5,086,768 | 334,922,499 |
What a typical home costs per month in Petrey
At this week's average 30-year rate of 7.11%, buying the median Petrey home of $143,800 with 20% down costs about $851 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,090, 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 $36,453 for the 20%-down payment. That payment is 15% of the median Petrey household income of $67,321; at that income and 20% down, the 28% guideline points to a home of about $266,000.
| Down payment | $28,760 |
|---|---|
| Loan amount | $115,040 |
| Principal and interest | $774 |
| Property taxes (0.14% a year) | $17 |
| Homeowners insurance (our estimate, 0.5% a year) | $60 |
| PMI | $0 |
| Total per month | $851 |
Change the numbers in the calculator
| Down payment | $5,033 |
|---|---|
| Loan amount | $141,195 |
| Principal and interest | $950 |
| Property taxes (0.14% a year) | $17 |
| Homeowners insurance (our estimate, 0.5% a year) | $60 |
| FHA mortgage insurance | $64 |
| Total per month | $1,090 |
Change the numbers in the calculator
Questions about home buying in Petrey
What is the median home value in Petrey?
About $143,800 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Petrey?
Homeowners pay a median $199 a year, which is about 0.14% 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 Petrey?
For the median home with 20% down at 7.11%, the payment is about $851 a month. Keeping that under 28% of gross income takes about $36,453 a year.
More about Petrey
- Mortgage Refinance in Petrey
- Debt Relief in Petrey
- Home Equity Loans in Petrey
- 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