The housing market in Tuscaloosa is quite healthy. With a median household income of $44,000, the median listing price is $225,000.  This means the average mortgage payment is approximately $900 after a down payment of $41,000.

What happens if there’s no $41,000 down payment? Well, the mortgage payment increases, and there could also be a fee for mortgage insurance added.

It goes without saying that these numbers change, according to one’s income, credit score, and down payment amount.

Of course the price of the house is one of the biggest factors as well.

For those trying to dip a toe into the pool of the American dream, there’s a 2-bedroom house in Tuscaloosa that isn’t a handyman special, and it comes in right at $125,000.

What’s so great about it?  Well, first of all…. It’s cute, and it has been completely remodeled. The address is kinda “off the beaten path,” which means the likelihood of “I was just in the neighborhood and thought I’d stop by” visitors significantly diminishes.

Add in desirable features like a nicely sized lot that’s fenced in, and you have yourself a winner.

See more pictures here.

But let’s look at the numbers.  A 20 percent down payment would be $25,000. So, $100,000 financed for 30 years at 4.5 percent makes the mortgage payment right at $500. WHERE in Tuscaloosa can one even find a renovated 2-bedroom apartment for $500 a month? Most come in at a rate of at least $500 per renter!

So, whether you’re a first-time homebuyer, an empty nester looking to downsize, or the parent of a student who’d rather pay for something you will eventually own than rent, this little gem offers numerous opportunities.

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