The typical owner-occupied home in Phenix City is worth about $170,300, 19% below the Alabama median of $209,900 and 49% below the national median of $332,700. Owners pay a median $873 a year in property taxes, about 0.51% of their home's value, higher than the Alabama rate of 0.38%. The median household earns $50,053 a year, so the median home costs 3.4 times the median income (3.3 times for Alabama). 52% of occupied homes here are lived in by their owners, and 56% of those owners still have a mortgage.
Phenix City at a glance
| Phenix City | Alabama | U.S. | |
|---|---|---|---|
| Median home value | $170,300 | $209,900 | $332,700 |
| Median property tax paid per year | $873 | $788 | $3,119 |
| Property tax as a share of value | 0.51% | 0.38% | 0.94% |
| Median household income | $50,053 | $63,999 | $80,734 |
| Homes lived in by their owners | 52% | 70% | 65% |
| Owner homes with a mortgage | 56% | 54% | 61% |
| Median monthly costs, owners with a mortgage | $1,315 | $1,433 | $1,963 |
| Those costs as a share of the owners' income | 20.1% | 19.0% | 21.0% |
| Median rent | $967 | $1,007 | $1,413 |
| Rent as a share of renters' income | 32.7% | 29.5% | 30.6% |
| Median year homes were built | 1984 | 1986 | 1980 |
| Vacant homes | 13.4% | 14.5% | 10.1% |
| Population | 38,499 | 5,086,768 | 334,922,499 |
What a typical home costs per month in Phenix City
At this week's average 30-year rate of 7.11%, buying the median Phenix City home of $170,300 with 20% down costs about $1,060 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,344, 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 $45,422 for the 20%-down payment. That payment is 25% of the median Phenix City household income of $50,053; at that income and 20% down, the 28% guideline points to a home of about $188,000.
The median rent here is $967 a month, so owning the median home costs about $93 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $34,060 |
|---|---|
| Loan amount | $136,240 |
| Principal and interest | $916 |
| Property taxes (0.51% a year) | $72 |
| Homeowners insurance (our estimate, 0.5% a year) | $71 |
| PMI | $0 |
| Total per month | $1,060 |
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| Down payment | $5,960 |
|---|---|
| Loan amount | $167,215 |
| Principal and interest | $1,125 |
| Property taxes (0.51% a year) | $72 |
| Homeowners insurance (our estimate, 0.5% a year) | $71 |
| FHA mortgage insurance | $75 |
| Total per month | $1,344 |
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Questions about home buying in Phenix City
What is the median home value in Phenix City?
About $170,300 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Phenix City?
Homeowners pay a median $873 a year, which is about 0.51% 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 Phenix City?
For the median home with 20% down at 7.11%, the payment is about $1,060 a month. Keeping that under 28% of gross income takes about $45,422 a year.
More about Phenix City
- Mortgage Refinance in Phenix City
- Debt Relief in Phenix City
- Home Equity Loans in Phenix City
- 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