The typical owner-occupied home in Bellamy is worth about $105,000, 50% below the Alabama median of $209,900 and 68% below the national median of $332,700. Owners pay a median $348 a year in property taxes, about 0.33% of their home's value, lower than the Alabama rate of 0.38%. The median household earns $53,011 a year, so the median home costs 2.0 times the median income (3.3 times for Alabama). 61% of occupied homes here are lived in by their owners, and 22% of those owners still have a mortgage.
Bellamy at a glance
| Bellamy | Alabama | U.S. | |
|---|---|---|---|
| Median home value | $105,000 | $209,900 | $332,700 |
| Median property tax paid per year | $348 | $788 | $3,119 |
| Property tax as a share of value | 0.33% | 0.38% | 0.94% |
| Median household income | $53,011 | $63,999 | $80,734 |
| Homes lived in by their owners | 61% | 70% | 65% |
| Owner homes with a mortgage | 22% | 54% | 61% |
| Median monthly costs, owners with a mortgage | – | $1,433 | $1,963 |
| Median rent | – | $1,007 | $1,413 |
| Median year homes were built | 1977 | 1986 | 1980 |
| Vacant homes | 54.5% | 14.5% | 10.1% |
| Population | 158 | 5,086,768 | 334,922,499 |
What a typical home costs per month in Bellamy
At this week's average 30-year rate of 7.11%, buying the median Bellamy home of $105,000 with 20% down costs about $638 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $813, 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 $27,330 for the 20%-down payment. That payment is 14% of the median Bellamy household income of $53,011; at that income and 20% down, the 28% guideline points to a home of about $204,000.
| Down payment | $21,000 |
|---|---|
| Loan amount | $84,000 |
| Principal and interest | $565 |
| Property taxes (0.33% a year) | $29 |
| Homeowners insurance (our estimate, 0.5% a year) | $44 |
| PMI | $0 |
| Total per month | $638 |
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| Down payment | $3,675 |
|---|---|
| Loan amount | $103,098 |
| Principal and interest | $694 |
| Property taxes (0.33% a year) | $29 |
| Homeowners insurance (our estimate, 0.5% a year) | $44 |
| FHA mortgage insurance | $46 |
| Total per month | $813 |
Change the numbers in the calculator
Questions about home buying in Bellamy
What is the median home value in Bellamy?
About $105,000 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Bellamy?
Homeowners pay a median $348 a year, which is about 0.33% 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 Bellamy?
For the median home with 20% down at 7.11%, the payment is about $638 a month. Keeping that under 28% of gross income takes about $27,330 a year.
More about Bellamy
- Mortgage Refinance in Bellamy
- Debt Relief in Bellamy
- Home Equity Loans in Bellamy
- 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