The typical owner-occupied home in Gadsden is worth about $116,800, 44% below the Alabama median of $209,900 and 65% below the national median of $332,700. Owners pay a median $554 a year in property taxes, about 0.47% of their home's value, higher than the Alabama rate of 0.38%. The median household earns $40,345 a year, so the median home costs 2.9 times the median income (3.3 times for Alabama). 56% of occupied homes here are lived in by their owners, and 39% of those owners still have a mortgage.
Gadsden at a glance
| Gadsden | Alabama | U.S. | |
|---|---|---|---|
| Median home value | $116,800 | $209,900 | $332,700 |
| Median property tax paid per year | $554 | $788 | $3,119 |
| Property tax as a share of value | 0.47% | 0.38% | 0.94% |
| Median household income | $40,345 | $63,999 | $80,734 |
| Homes lived in by their owners | 56% | 70% | 65% |
| Owner homes with a mortgage | 39% | 54% | 61% |
| Median monthly costs, owners with a mortgage | $1,176 | $1,433 | $1,963 |
| Those costs as a share of the owners' income | 20.6% | 19.0% | 21.0% |
| Median rent | $808 | $1,007 | $1,413 |
| Rent as a share of renters' income | 30.5% | 29.5% | 30.6% |
| Median year homes were built | 1959 | 1986 | 1980 |
| Vacant homes | 22.8% | 14.5% | 10.1% |
| Population | 33,374 | 5,086,768 | 334,922,499 |
What a typical home costs per month in Gadsden
At this week's average 30-year rate of 7.11%, buying the median Gadsden home of $116,800 with 20% down costs about $723 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $918, 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 $30,985 for the 20%-down payment. That payment is 22% of the median Gadsden household income of $40,345; at that income and 20% down, the 28% guideline points to a home of about $152,000.
The median rent here is $808 a month, a little more than the monthly cost of owning the median home with 20% down.
| Down payment | $23,360 |
|---|---|
| Loan amount | $93,440 |
| Principal and interest | $629 |
| Property taxes (0.47% a year) | $46 |
| Homeowners insurance (our estimate, 0.5% a year) | $49 |
| PMI | $0 |
| Total per month | $723 |
Change the numbers in the calculator
| Down payment | $4,088 |
|---|---|
| Loan amount | $114,684 |
| Principal and interest | $771 |
| Property taxes (0.47% a year) | $46 |
| Homeowners insurance (our estimate, 0.5% a year) | $49 |
| FHA mortgage insurance | $52 |
| Total per month | $918 |
Change the numbers in the calculator
Questions about home buying in Gadsden
What is the median home value in Gadsden?
About $116,800 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Gadsden?
Homeowners pay a median $554 a year, which is about 0.47% 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 Gadsden?
For the median home with 20% down at 7.11%, the payment is about $723 a month. Keeping that under 28% of gross income takes about $30,985 a year.
More about Gadsden
- Mortgage Refinance in Gadsden
- Debt Relief in Gadsden
- Home Equity Loans in Gadsden
- 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