The typical owner-occupied home in Pike Road is worth about $381,600, 82% above the Alabama median of $209,900 and 15% above the national median of $332,700. Owners pay a median $1,784 a year in property taxes, about 0.47% of their home's value, higher than the Alabama rate of 0.38%. The median household earns $117,091 a year, so the median home costs 3.3 times the median income (3.3 times for Alabama). 85% of occupied homes here are lived in by their owners, and 75% of those owners still have a mortgage.
Pike Road at a glance
| Pike Road | Alabama | U.S. | |
|---|---|---|---|
| Median home value | $381,600 | $209,900 | $332,700 |
| Median property tax paid per year | $1,784 | $788 | $3,119 |
| Property tax as a share of value | 0.47% | 0.38% | 0.94% |
| Median household income | $117,091 | $63,999 | $80,734 |
| Homes lived in by their owners | 85% | 70% | 65% |
| Owner homes with a mortgage | 75% | 54% | 61% |
| Median monthly costs, owners with a mortgage | $2,121 | $1,433 | $1,963 |
| Those costs as a share of the owners' income | 19.6% | 19.0% | 21.0% |
| Median rent | $1,653 | $1,007 | $1,413 |
| Rent as a share of renters' income | 33.3% | 29.5% | 30.6% |
| Median year homes were built | 2006 | 1986 | 1980 |
| Vacant homes | 7.4% | 14.5% | 10.1% |
| Population | 10,574 | 5,086,768 | 334,922,499 |
What a typical home costs per month in Pike Road
At this week's average 30-year rate of 7.11%, buying the median Pike Road home of $381,600 with 20% down costs about $2,362 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $2,998, 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 $101,233 for the 20%-down payment. That payment is 24% of the median Pike Road household income of $117,091; at that income and 20% down, the 28% guideline points to a home of about $441,000.
The median rent here is $1,653 a month, so owning the median home costs about $709 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $76,320 |
|---|---|
| Loan amount | $305,280 |
| Principal and interest | $2,054 |
| Property taxes (0.47% a year) | $149 |
| Homeowners insurance (our estimate, 0.5% a year) | $159 |
| PMI | $0 |
| Total per month | $2,362 |
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| Down payment | $13,356 |
|---|---|
| Loan amount | $374,688 |
| Principal and interest | $2,521 |
| Property taxes (0.47% a year) | $149 |
| Homeowners insurance (our estimate, 0.5% a year) | $159 |
| FHA mortgage insurance | $169 |
| Total per month | $2,998 |
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Questions about home buying in Pike Road
What is the median home value in Pike Road?
About $381,600 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Pike Road?
Homeowners pay a median $1,784 a year, which is about 0.47% 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 Pike Road?
For the median home with 20% down at 7.11%, the payment is about $2,362 a month. Keeping that under 28% of gross income takes about $101,233 a year.
More about Pike Road
- Mortgage Refinance in Pike Road
- Debt Relief in Pike Road
- Home Equity Loans in Pike Road
- 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