The typical owner-occupied home in Valley is worth about $140,800, 33% below the Alabama median of $209,900 and 58% below the national median of $332,700. Owners pay a median $509 a year in property taxes, about 0.36% of their home's value, close to the Alabama rate of 0.38%. The median household earns $51,661 a year, so the median home costs 2.7 times the median income (3.3 times for Alabama). 67% of occupied homes here are lived in by their owners, and 52% of those owners still have a mortgage.
Valley at a glance
| Valley | Alabama | U.S. | |
|---|---|---|---|
| Median home value | $140,800 | $209,900 | $332,700 |
| Median property tax paid per year | $509 | $788 | $3,119 |
| Property tax as a share of value | 0.36% | 0.38% | 0.94% |
| Median household income | $51,661 | $63,999 | $80,734 |
| Homes lived in by their owners | 67% | 70% | 65% |
| Owner homes with a mortgage | 52% | 54% | 61% |
| Median monthly costs, owners with a mortgage | $1,130 | $1,433 | $1,963 |
| Those costs as a share of the owners' income | 18.6% | 19.0% | 21.0% |
| Median rent | $1,016 | $1,007 | $1,413 |
| Rent as a share of renters' income | 28.3% | 29.5% | 30.6% |
| Median year homes were built | 1978 | 1986 | 1980 |
| Vacant homes | 17.5% | 14.5% | 10.1% |
| Population | 10,277 | 5,086,768 | 334,922,499 |
What a typical home costs per month in Valley
At this week's average 30-year rate of 7.11%, buying the median Valley home of $140,800 with 20% down costs about $859 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,093, 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 $36,799 for the 20%-down payment. That payment is 20% of the median Valley household income of $51,661; at that income and 20% down, the 28% guideline points to a home of about $198,000.
The median rent here is $1,016 a month, a little more than the monthly cost of owning the median home with 20% down.
| Down payment | $28,160 |
|---|---|
| Loan amount | $112,640 |
| Principal and interest | $758 |
| Property taxes (0.36% a year) | $42 |
| Homeowners insurance (our estimate, 0.5% a year) | $59 |
| PMI | $0 |
| Total per month | $859 |
Change the numbers in the calculator
| Down payment | $4,928 |
|---|---|
| Loan amount | $138,250 |
| Principal and interest | $930 |
| Property taxes (0.36% a year) | $42 |
| Homeowners insurance (our estimate, 0.5% a year) | $59 |
| FHA mortgage insurance | $62 |
| Total per month | $1,093 |
Change the numbers in the calculator
Questions about home buying in Valley
What is the median home value in Valley?
About $140,800 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Valley?
Homeowners pay a median $509 a year, which is about 0.36% 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 Valley?
For the median home with 20% down at 7.11%, the payment is about $859 a month. Keeping that under 28% of gross income takes about $36,799 a year.
More about Valley
- Mortgage Refinance in Valley
- Debt Relief in Valley
- Home Equity Loans in Valley
- 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