The typical owner-occupied home in Grant is worth about $239,400, 14% above the Alabama median of $209,900 and 28% below the national median of $332,700. Owners pay a median $884 a year in property taxes, about 0.37% of their home's value, close to the Alabama rate of 0.38%. The median household earns $91,477 a year, so the median home costs 2.6 times the median income (3.3 times for Alabama). 83% of occupied homes here are lived in by their owners, and 77% of those owners still have a mortgage.
Grant at a glance
| Grant | Alabama | U.S. | |
|---|---|---|---|
| Median home value | $239,400 | $209,900 | $332,700 |
| Median property tax paid per year | $884 | $788 | $3,119 |
| Property tax as a share of value | 0.37% | 0.38% | 0.94% |
| Median household income | $91,477 | $63,999 | $80,734 |
| Homes lived in by their owners | 83% | 70% | 65% |
| Owner homes with a mortgage | 77% | 54% | 61% |
| Median monthly costs, owners with a mortgage | $1,369 | $1,433 | $1,963 |
| Those costs as a share of the owners' income | 17.2% | 19.0% | 21.0% |
| Median rent | $543 | $1,007 | $1,413 |
| Rent as a share of renters' income | 22.1% | 29.5% | 30.6% |
| Median year homes were built | 1997 | 1986 | 1980 |
| Vacant homes | 9.5% | 14.5% | 10.1% |
| Population | 1,336 | 5,086,768 | 334,922,499 |
What a typical home costs per month in Grant
At this week's average 30-year rate of 7.11%, buying the median Grant home of $239,400 with 20% down costs about $1,462 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,861, 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 $62,655 for the 20%-down payment. That payment is 19% of the median Grant household income of $91,477; at that income and 20% down, the 28% guideline points to a home of about $350,000.
The median rent here is $543 a month, so owning the median home costs about $919 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $47,880 |
|---|---|
| Loan amount | $191,520 |
| Principal and interest | $1,288 |
| Property taxes (0.37% a year) | $74 |
| Homeowners insurance (our estimate, 0.5% a year) | $100 |
| PMI | $0 |
| Total per month | $1,462 |
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| Down payment | $8,379 |
|---|---|
| Loan amount | $235,064 |
| Principal and interest | $1,581 |
| Property taxes (0.37% a year) | $74 |
| Homeowners insurance (our estimate, 0.5% a year) | $100 |
| FHA mortgage insurance | $106 |
| Total per month | $1,861 |
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Questions about home buying in Grant
What is the median home value in Grant?
About $239,400 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Grant?
Homeowners pay a median $884 a year, which is about 0.37% 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 Grant?
For the median home with 20% down at 7.11%, the payment is about $1,462 a month. Keeping that under 28% of gross income takes about $62,655 a year.
More about Grant
- Mortgage Refinance in Grant
- Debt Relief in Grant
- Home Equity Loans in Grant
- 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