The typical owner-occupied home in Pelham is worth about $299,800, 43% above the Alabama median of $209,900 and 10% below the national median of $332,700. Owners pay a median $1,454 a year in property taxes, about 0.48% of their home's value, higher than the Alabama rate of 0.38%. The median household earns $101,094 a year, so the median home costs 3.0 times the median income (3.3 times for Alabama). 84% of occupied homes here are lived in by their owners, and 70% of those owners still have a mortgage.
Pelham at a glance
| Pelham | Alabama | U.S. | |
|---|---|---|---|
| Median home value | $299,800 | $209,900 | $332,700 |
| Median property tax paid per year | $1,454 | $788 | $3,119 |
| Property tax as a share of value | 0.48% | 0.38% | 0.94% |
| Median household income | $101,094 | $63,999 | $80,734 |
| Homes lived in by their owners | 84% | 70% | 65% |
| Owner homes with a mortgage | 70% | 54% | 61% |
| Median monthly costs, owners with a mortgage | $1,656 | $1,433 | $1,963 |
| Those costs as a share of the owners' income | 18.1% | 19.0% | 21.0% |
| Median rent | $1,577 | $1,007 | $1,413 |
| Rent as a share of renters' income | 30.2% | 29.5% | 30.6% |
| Median year homes were built | 2001 | 1986 | 1980 |
| Vacant homes | 2.0% | 14.5% | 10.1% |
| Population | 24,827 | 5,086,768 | 334,922,499 |
What a typical home costs per month in Pelham
At this week's average 30-year rate of 7.11%, buying the median Pelham home of $299,800 with 20% down costs about $1,858 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $2,358, 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 $79,640 for the 20%-down payment. That payment is 22% of the median Pelham household income of $101,094; at that income and 20% down, the 28% guideline points to a home of about $381,000.
The median rent here is $1,577 a month, so owning the median home costs about $281 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $59,960 |
|---|---|
| Loan amount | $239,840 |
| Principal and interest | $1,613 |
| Property taxes (0.48% a year) | $120 |
| Homeowners insurance (our estimate, 0.5% a year) | $125 |
| PMI | $0 |
| Total per month | $1,858 |
Change the numbers in the calculator
| Down payment | $10,493 |
|---|---|
| Loan amount | $294,370 |
| Principal and interest | $1,980 |
| Property taxes (0.48% a year) | $120 |
| Homeowners insurance (our estimate, 0.5% a year) | $125 |
| FHA mortgage insurance | $133 |
| Total per month | $2,358 |
Change the numbers in the calculator
Questions about home buying in Pelham
What is the median home value in Pelham?
About $299,800 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Pelham?
Homeowners pay a median $1,454 a year, which is about 0.48% 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 Pelham?
For the median home with 20% down at 7.11%, the payment is about $1,858 a month. Keeping that under 28% of gross income takes about $79,640 a year.
More about Pelham
- Mortgage Refinance in Pelham
- Debt Relief in Pelham
- Home Equity Loans in Pelham
- 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