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Mignon

Learn about the people, housing, costs and businesses in Mignon, Alabama

Median Home$158,739
Median Rent$709/month
Population962
Leading IndustriesRetail · Manufacturing30% retail
Home Value Growth⬆⬆⬆+39.7% over 2 years
Retirees28% of residentswell above average
Homeowners70% of occupied units
NotableAmenity Score80/100 · highly walkable area
NotableAffordable Market$159k median home · lower cost than 70% of the country
Mignon
AL

Frequently Asked Questions

What are today's mortgage rates in Mignon?

As of today, the 30-year fixed mortgage rate for Mignon is approximately 6.953% (6.994% APR). Rates vary based on your credit score, loan type, down payment, and other factors. Safe Rate updates rates daily using live investor pricing.

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What is the median home price in Mignon?

The median home value in Mignon is $159k. The median monthly rent is $709. Annual property taxes average $727. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in Mignon?

Home values in Mignon have increased 39.7% over the past two years. This indicates a strong appreciation trend. This data is sourced from the Federal Housing Finance Agency (FHFA) House Price Index.

How much income do you need to buy a home in Mignon?

Based on a typical all-in ownership cost of $641/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $27k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in Mignon is $36k/year.

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What industries drive the economy in Mignon?

The largest employment sectors in Mignon are retail (30%) and public administration (22%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.