🏦 Mortgage Calculators Tennessee

How Much House Can I Afford in Tennessee?

Find out how much house you can afford in Tennessee with 0.71% property tax. Uses 28/36 rule with Tennessee-specific data.

Free — No Sign-up Verified Data Editorially Reviewed Updated Feb 2026

Tennessee Quick Facts

None Income Tax Rate

0.71% Property Tax Rate

$56,071 Median Income

89.7 Cost of Living

How This Calculator Works

Calculation methodology and assumptions

Calculates home affordability in Tennessee using the 28/36 rule. Maximum 28% of gross monthly income for housing (PITI). Includes Tennessee's effective property tax rate of 0.71% and average home insurance of $2,240/year. Median home price in Tennessee: $310,000.

Key State Information

Tennessee housing market: Median home price $310,000 | Property tax rate 0.71% | Avg home insurance $2,240/yr | Median household income $56,071. Homes are expensive relative to income.

Standard financial formulas Pre-filled with real state data Estimates only — not financial advice

Data Source

Census Bureau, Zillow, Tax Foundation

View Original Source | Verified 2024-12-01 | Updated annually

Frequently Asked Questions

How much house can I afford on the median income in Tennessee?

With Tennessee's median household income of $56,071 and a 10% down payment, you can typically afford a home priced around $196,249-$252,320 depending on debts and interest rates. The median home in Tennessee costs $310,000.

What is the property tax rate in Tennessee?

Tennessee's effective property tax rate is 0.71%. On a $310,000 home, that's approximately $2,201/year or $183/month.