The typical owner-occupied home in Collinsville is worth about $59,000, 72% below the Alabama median of $209,900 and 82% below the national median of $332,700. Owners pay a median $368 a year in property taxes, about 0.62% of their home's value, higher than the Alabama rate of 0.38%. The median household earns $31,652 a year, so the median home costs 1.9 times the median income (3.3 times for Alabama). 62% of occupied homes here are lived in by their owners, and 12% of those owners still have a mortgage.
Collinsville at a glance
| Collinsville | Alabama | U.S. | |
|---|---|---|---|
| Median home value | $59,000 | $209,900 | $332,700 |
| Median property tax paid per year | $368 | $788 | $3,119 |
| Property tax as a share of value | 0.62% | 0.38% | 0.94% |
| Median household income | $31,652 | $63,999 | $80,734 |
| Homes lived in by their owners | 62% | 70% | 65% |
| Owner homes with a mortgage | 12% | 54% | 61% |
| Median monthly costs, owners with a mortgage | $939 | $1,433 | $1,963 |
| Those costs as a share of the owners' income | 10.4% | 19.0% | 21.0% |
| Median rent | $545 | $1,007 | $1,413 |
| Rent as a share of renters' income | 29.9% | 29.5% | 30.6% |
| Median year homes were built | 1977 | 1986 | 1980 |
| Vacant homes | 26.5% | 14.5% | 10.1% |
| Population | 1,781 | 5,086,768 | 334,922,499 |
What a typical home costs per month in Collinsville
At this week's average 30-year rate of 7.11%, buying the median Collinsville home of $59,000 with 20% down costs about $373 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $471, 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 $15,968 for the 20%-down payment. That payment is 14% of the median Collinsville household income of $31,652; at that income and 20% down, the 28% guideline points to a home of about $117,000.
The median rent here is $545 a month, a little more than the monthly cost of owning the median home with 20% down.
| Down payment | $11,800 |
|---|---|
| Loan amount | $47,200 |
| Principal and interest | $318 |
| Property taxes (0.62% a year) | $30 |
| Homeowners insurance (our estimate, 0.5% a year) | $25 |
| PMI | $0 |
| Total per month | $373 |
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| Down payment | $2,065 |
|---|---|
| Loan amount | $57,931 |
| Principal and interest | $390 |
| Property taxes (0.62% a year) | $30 |
| Homeowners insurance (our estimate, 0.5% a year) | $25 |
| FHA mortgage insurance | $26 |
| Total per month | $471 |
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Questions about home buying in Collinsville
What is the median home value in Collinsville?
About $59,000 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Collinsville?
Homeowners pay a median $368 a year, which is about 0.62% 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 Collinsville?
For the median home with 20% down at 7.11%, the payment is about $373 a month. Keeping that under 28% of gross income takes about $15,968 a year.
More about Collinsville
- Mortgage Refinance in Collinsville
- Debt Relief in Collinsville
- Home Equity Loans in Collinsville
- 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