The typical owner-occupied home in Fayette County is worth about $125,900, 40% below the Alabama median of $209,900 and 62% below the national median of $332,700. Owners pay a median $355 a year in property taxes, about 0.28% of their home's value, lower than the Alabama rate of 0.38%. The median household earns $49,488 a year, so the median home costs 2.5 times the median income (3.3 times for Alabama). 78% of occupied homes here are lived in by their owners, and 35% of those owners still have a mortgage.
Fayette County at a glance
| Fayette County | Alabama | U.S. | |
|---|---|---|---|
| Median home value | $125,900 | $209,900 | $332,700 |
| Median property tax paid per year | $355 | $788 | $3,119 |
| Property tax as a share of value | 0.28% | 0.38% | 0.94% |
| Median household income | $49,488 | $63,999 | $80,734 |
| Homes lived in by their owners | 78% | 70% | 65% |
| Owner homes with a mortgage | 35% | 54% | 61% |
| Median monthly costs, owners with a mortgage | $1,200 | $1,433 | $1,963 |
| Those costs as a share of the owners' income | 19.4% | 19.0% | 21.0% |
| Median rent | $667 | $1,007 | $1,413 |
| Rent as a share of renters' income | 23.0% | 29.5% | 30.6% |
| Median year homes were built | 1980 | 1986 | 1980 |
| Vacant homes | 19.9% | 14.5% | 10.1% |
| Population | 16,053 | 5,086,768 | 334,922,499 |
What a typical home costs per month in Fayette County
At this week's average 30-year rate of 7.11%, buying the median Fayette County home of $125,900 with 20% down costs about $759 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $969, 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 $32,545 for the 20%-down payment. That payment is 18% of the median Fayette County household income of $49,488; at that income and 20% down, the 28% guideline points to a home of about $191,000.
The median rent here is $667 a month, so owning the median home costs about $92 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $25,180 |
|---|---|
| Loan amount | $100,720 |
| Principal and interest | $678 |
| Property taxes (0.28% a year) | $29 |
| Homeowners insurance (our estimate, 0.5% a year) | $52 |
| PMI | $0 |
| Total per month | $759 |
Change the numbers in the calculator
| Down payment | $4,406 |
|---|---|
| Loan amount | $123,620 |
| Principal and interest | $832 |
| Property taxes (0.28% a year) | $29 |
| Homeowners insurance (our estimate, 0.5% a year) | $52 |
| FHA mortgage insurance | $56 |
| Total per month | $969 |
Change the numbers in the calculator
Questions about home buying in Fayette County
What is the median home value in Fayette County?
About $125,900 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Fayette County?
Homeowners pay a median $355 a year, which is about 0.28% 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 Fayette County?
For the median home with 20% down at 7.11%, the payment is about $759 a month. Keeping that under 28% of gross income takes about $32,545 a year.
More about Fayette County
- Mortgage Refinance in Fayette County
- Debt Relief in Fayette County
- Home Equity Loans in Fayette County
- 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