The typical owner-occupied home in Eclectic is worth about $161,800, 23% below the Alabama median of $209,900 and 51% below the national median of $332,700. Owners pay a median $428 a year in property taxes, about 0.26% of their home's value, lower than the Alabama rate of 0.38%. The median household earns $49,904 a year, so the median home costs 3.2 times the median income (3.3 times for Alabama). 68% of occupied homes here are lived in by their owners, and 70% of those owners still have a mortgage.
Eclectic at a glance
| Eclectic | Alabama | U.S. | |
|---|---|---|---|
| Median home value | $161,800 | $209,900 | $332,700 |
| Median property tax paid per year | $428 | $788 | $3,119 |
| Property tax as a share of value | 0.26% | 0.38% | 0.94% |
| Median household income | $49,904 | $63,999 | $80,734 |
| Homes lived in by their owners | 68% | 70% | 65% |
| Owner homes with a mortgage | 70% | 54% | 61% |
| Median monthly costs, owners with a mortgage | $1,159 | $1,433 | $1,963 |
| Those costs as a share of the owners' income | 21.0% | 19.0% | 21.0% |
| Median rent | $699 | $1,007 | $1,413 |
| Rent as a share of renters' income | 27.1% | 29.5% | 30.6% |
| Median year homes were built | 1976 | 1986 | 1980 |
| Vacant homes | 13.5% | 14.5% | 10.1% |
| Population | 1,141 | 5,086,768 | 334,922,499 |
What a typical home costs per month in Eclectic
At this week's average 30-year rate of 7.11%, buying the median Eclectic home of $161,800 with 20% down costs about $973 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,243, 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 $41,709 for the 20%-down payment. That payment is 23% of the median Eclectic household income of $49,904; at that income and 20% down, the 28% guideline points to a home of about $194,000.
The median rent here is $699 a month, so owning the median home costs about $274 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $32,360 |
|---|---|
| Loan amount | $129,440 |
| Principal and interest | $871 |
| Property taxes (0.26% a year) | $35 |
| Homeowners insurance (our estimate, 0.5% a year) | $67 |
| PMI | $0 |
| Total per month | $973 |
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| Down payment | $5,663 |
|---|---|
| Loan amount | $158,869 |
| Principal and interest | $1,069 |
| Property taxes (0.26% a year) | $35 |
| Homeowners insurance (our estimate, 0.5% a year) | $67 |
| FHA mortgage insurance | $72 |
| Total per month | $1,243 |
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Questions about home buying in Eclectic
What is the median home value in Eclectic?
About $161,800 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Eclectic?
Homeowners pay a median $428 a year, which is about 0.26% 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 Eclectic?
For the median home with 20% down at 7.11%, the payment is about $973 a month. Keeping that under 28% of gross income takes about $41,709 a year.
More about Eclectic
- Mortgage Refinance in Eclectic
- Debt Relief in Eclectic
- Home Equity Loans in Eclectic
- 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