The typical owner-occupied home in Millport is worth about $104,400, 50% below the Alabama median of $209,900 and 69% below the national median of $332,700. Owners pay a median $418 a year in property taxes, about 0.40% of their home's value, higher than the Alabama rate of 0.38%. The median household earns $76,875 a year, so the median home costs 1.4 times the median income (3.3 times for Alabama). 68% of occupied homes here are lived in by their owners, and 61% of those owners still have a mortgage.
Millport at a glance
| Millport | Alabama | U.S. | |
|---|---|---|---|
| Median home value | $104,400 | $209,900 | $332,700 |
| Median property tax paid per year | $418 | $788 | $3,119 |
| Property tax as a share of value | 0.40% | 0.38% | 0.94% |
| Median household income | $76,875 | $63,999 | $80,734 |
| Homes lived in by their owners | 68% | 70% | 65% |
| Owner homes with a mortgage | 61% | 54% | 61% |
| Median monthly costs, owners with a mortgage | – | $1,433 | $1,963 |
| Those costs as a share of the owners' income | 24.1% | 19.0% | 21.0% |
| Median rent | $650 | $1,007 | $1,413 |
| Rent as a share of renters' income | 18.3% | 29.5% | 30.6% |
| Median year homes were built | 1970 | 1986 | 1980 |
| Vacant homes | 25.2% | 14.5% | 10.1% |
| Population | 1,412 | 5,086,768 | 334,922,499 |
What a typical home costs per month in Millport
At this week's average 30-year rate of 7.11%, buying the median Millport home of $104,400 with 20% down costs about $640 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $814, 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 $27,435 for the 20%-down payment. That payment is 10% of the median Millport household income of $76,875; at that income and 20% down, the 28% guideline points to a home of about $293,000.
The median rent here is $650 a month, a little more than the monthly cost of owning the median home with 20% down.
| Down payment | $20,880 |
|---|---|
| Loan amount | $83,520 |
| Principal and interest | $562 |
| Property taxes (0.40% a year) | $35 |
| Homeowners insurance (our estimate, 0.5% a year) | $44 |
| PMI | $0 |
| Total per month | $640 |
Change the numbers in the calculator
| Down payment | $3,654 |
|---|---|
| Loan amount | $102,509 |
| Principal and interest | $690 |
| Property taxes (0.40% a year) | $35 |
| Homeowners insurance (our estimate, 0.5% a year) | $44 |
| FHA mortgage insurance | $46 |
| Total per month | $814 |
Change the numbers in the calculator
Questions about home buying in Millport
What is the median home value in Millport?
About $104,400 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Millport?
Homeowners pay a median $418 a year, which is about 0.40% 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 Millport?
For the median home with 20% down at 7.11%, the payment is about $640 a month. Keeping that under 28% of gross income takes about $27,435 a year.
More about Millport
- Mortgage Refinance in Millport
- Debt Relief in Millport
- Home Equity Loans in Millport
- 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