The typical owner-occupied home in Chatom is worth about $174,100, 17% below the Alabama median of $209,900 and 48% below the national median of $332,700. Owners pay a median $537 a year in property taxes, about 0.31% of their home's value, lower than the Alabama rate of 0.38%. 75% of occupied homes here are lived in by their owners, and 42% of those owners still have a mortgage.
Chatom at a glance
| Chatom | Alabama | U.S. | |
|---|---|---|---|
| Median home value | $174,100 | $209,900 | $332,700 |
| Median property tax paid per year | $537 | $788 | $3,119 |
| Property tax as a share of value | 0.31% | 0.38% | 0.94% |
| Median household income | – | $63,999 | $80,734 |
| Homes lived in by their owners | 75% | 70% | 65% |
| Owner homes with a mortgage | 42% | 54% | 61% |
| Median monthly costs, owners with a mortgage | $1,547 | $1,433 | $1,963 |
| Those costs as a share of the owners' income | 22.2% | 19.0% | 21.0% |
| Median rent | $382 | $1,007 | $1,413 |
| Rent as a share of renters' income | 26.7% | 29.5% | 30.6% |
| Median year homes were built | 1981 | 1986 | 1980 |
| Vacant homes | 21.0% | 14.5% | 10.1% |
| Population | 834 | 5,086,768 | 334,922,499 |
What a typical home costs per month in Chatom
At this week's average 30-year rate of 7.11%, buying the median Chatom home of $174,100 with 20% down costs about $1,054 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 $45,192 for the 20%-down payment.
The median rent here is $382 a month, so owning the median home costs about $672 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $34,820 |
|---|---|
| Loan amount | $139,280 |
| Principal and interest | $937 |
| Property taxes (0.31% a year) | $45 |
| Homeowners insurance (our estimate, 0.5% a year) | $73 |
| PMI | $0 |
| Total per month | $1,054 |
Change the numbers in the calculator
| Down payment | $6,094 |
|---|---|
| Loan amount | $170,947 |
| Principal and interest | $1,150 |
| Property taxes (0.31% a year) | $45 |
| Homeowners insurance (our estimate, 0.5% a year) | $73 |
| FHA mortgage insurance | $77 |
| Total per month | $1,344 |
Change the numbers in the calculator
Questions about home buying in Chatom
What is the median home value in Chatom?
About $174,100 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Chatom?
Homeowners pay a median $537 a year, which is about 0.31% 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 Chatom?
For the median home with 20% down at 7.11%, the payment is about $1,054 a month. Keeping that under 28% of gross income takes about $45,192 a year.
More about Chatom
- Mortgage Refinance in Chatom
- Debt Relief in Chatom
- Home Equity Loans in Chatom
- 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