The typical owner-occupied home in Thomaston is worth about $92,700, 56% below the Alabama median of $209,900 and 72% below the national median of $332,700. Owners pay a median $353 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 $58,125 a year, so the median home costs 1.6 times the median income (3.3 times for Alabama). 85% of occupied homes here are lived in by their owners, and 29% of those owners still have a mortgage.
Thomaston at a glance
| Thomaston | Alabama | U.S. | |
|---|---|---|---|
| Median home value | $92,700 | $209,900 | $332,700 |
| Median property tax paid per year | $353 | $788 | $3,119 |
| Property tax as a share of value | 0.38% | 0.38% | 0.94% |
| Median household income | $58,125 | $63,999 | $80,734 |
| Homes lived in by their owners | 85% | 70% | 65% |
| Owner homes with a mortgage | 29% | 54% | 61% |
| Median monthly costs, owners with a mortgage | $893 | $1,433 | $1,963 |
| Those costs as a share of the owners' income | 12.5% | 19.0% | 21.0% |
| Median rent | $1,094 | $1,007 | $1,413 |
| Rent as a share of renters' income | 33.8% | 29.5% | 30.6% |
| Median year homes were built | 1966 | 1986 | 1980 |
| Vacant homes | 48.2% | 14.5% | 10.1% |
| Population | 308 | 5,086,768 | 334,922,499 |
What a typical home costs per month in Thomaston
At this week's average 30-year rate of 7.11%, buying the median Thomaston home of $92,700 with 20% down costs about $567 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $721, 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 $24,294 for the 20%-down payment. That payment is 12% of the median Thomaston household income of $58,125; at that income and 20% down, the 28% guideline points to a home of about $222,000.
The median rent here is $1,094 a month, a little more than the monthly cost of owning the median home with 20% down.
| Down payment | $18,540 |
|---|---|
| Loan amount | $74,160 |
| Principal and interest | $499 |
| Property taxes (0.38% a year) | $29 |
| Homeowners insurance (our estimate, 0.5% a year) | $39 |
| PMI | $0 |
| Total per month | $567 |
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| Down payment | $3,244 |
|---|---|
| Loan amount | $91,021 |
| Principal and interest | $612 |
| Property taxes (0.38% a year) | $29 |
| Homeowners insurance (our estimate, 0.5% a year) | $39 |
| FHA mortgage insurance | $41 |
| Total per month | $721 |
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Questions about home buying in Thomaston
What is the median home value in Thomaston?
About $92,700 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Thomaston?
Homeowners pay a median $353 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 Thomaston?
For the median home with 20% down at 7.11%, the payment is about $567 a month. Keeping that under 28% of gross income takes about $24,294 a year.
More about Thomaston
- Mortgage Refinance in Thomaston
- Debt Relief in Thomaston
- Home Equity Loans in Thomaston
- 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