The typical owner-occupied home in Russellville is worth about $123,800, 41% below the Alabama median of $209,900 and 63% below the national median of $332,700. Owners pay a median $476 a year in property taxes, about 0.38% of their home's value, close to the Alabama rate of 0.38%. The median household earns $58,231 a year, so the median home costs 2.1 times the median income (3.3 times for Alabama). 70% of occupied homes here are lived in by their owners, and 35% of those owners still have a mortgage.
Russellville at a glance
| Russellville | Alabama | U.S. | |
|---|---|---|---|
| Median home value | $123,800 | $209,900 | $332,700 |
| Median property tax paid per year | $476 | $788 | $3,119 |
| Property tax as a share of value | 0.38% | 0.38% | 0.94% |
| Median household income | $58,231 | $63,999 | $80,734 |
| Homes lived in by their owners | 70% | 70% | 65% |
| Owner homes with a mortgage | 35% | 54% | 61% |
| Median monthly costs, owners with a mortgage | $1,212 | $1,433 | $1,963 |
| Those costs as a share of the owners' income | 16.7% | 19.0% | 21.0% |
| Median rent | $685 | $1,007 | $1,413 |
| Rent as a share of renters' income | 22.3% | 29.5% | 30.6% |
| Median year homes were built | 1981 | 1986 | 1980 |
| Vacant homes | 9.7% | 14.5% | 10.1% |
| Population | 10,799 | 5,086,768 | 334,922,499 |
What a typical home costs per month in Russellville
At this week's average 30-year rate of 7.11%, buying the median Russellville home of $123,800 with 20% down costs about $757 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $963, 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 $32,445 for the 20%-down payment. That payment is 16% of the median Russellville household income of $58,231; at that income and 20% down, the 28% guideline points to a home of about $222,000.
The median rent here is $685 a month, so owning the median home costs about $72 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $24,760 |
|---|---|
| Loan amount | $99,040 |
| Principal and interest | $666 |
| Property taxes (0.38% a year) | $39 |
| Homeowners insurance (our estimate, 0.5% a year) | $52 |
| PMI | $0 |
| Total per month | $757 |
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| Down payment | $4,333 |
|---|---|
| Loan amount | $121,558 |
| Principal and interest | $818 |
| Property taxes (0.38% a year) | $39 |
| Homeowners insurance (our estimate, 0.5% a year) | $52 |
| FHA mortgage insurance | $55 |
| Total per month | $963 |
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Questions about home buying in Russellville
What is the median home value in Russellville?
About $123,800 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Russellville?
Homeowners pay a median $476 a year, which is about 0.38% 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 Russellville?
For the median home with 20% down at 7.11%, the payment is about $757 a month. Keeping that under 28% of gross income takes about $32,445 a year.
More about Russellville
- Mortgage Refinance in Russellville
- Debt Relief in Russellville
- Home Equity Loans in Russellville
- 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