Tennessee (TN) · No state income tax · Property tax: 0.71% · Median home (ZHVI): $325,000
As of · Sources: Zillow ZHVI, Tax Foundation, Census ACS, Freddie Mac PMMS
In Tennessee, the median home price is $325,000 as of 2026, which directly determines your loan amount and monthly payment. Property taxes run 0.71% annually — about $2,308/year on a median-priced home — and are typically rolled into your monthly PITI payment. Homeowners insurance averages $1,560/year in Tennessee, adding roughly $130/month to your total housing cost. Since Tennessee has no state income tax, your full federal mortgage interest deduction applies without state-level complications.
Home value, monthly carrying cost, property tax, and insurance are the four levers for the mortgage payment calculator in Tennessee. Every row cites a primary public dataset. Numbers reflect the most recent vintage available; refresh cadence is documented in the methodology.
Every real-estate number on this page runs through the same core identity: the monthly principal-and-interest payment on a fully amortizing fixed-rate loan is M = P · r / (1 − (1+r)^(−n)), where P is the loan principal, r is the monthly rate (annual rate / 12), and n is the term in months. For a typical Tennessee buyer in 2026, P starts from an $325,000 median home value (Zillow ZHVI)[1], minus a standard 20% down payment.
On top of P&I the calculator adds the two Tennessee-specific carrying costs: property tax at the state effective rate of 0.71%[2] and homeowners insurance at roughly $1,560/year (NAIC state average)[3]. The Freddie Mac PMMS national average 30-year fixed rate (6.30% (Freddie Mac PMMS · week of ))[4] drives the payment curve — Tennessee rate quotes can move a few basis points around that number depending on lender, loan size, and credit band.
Calc-specific note: For a fully amortising 30-year fixed, plug Tennessee's ZHVI minus 20% down into the M = P·r/(1−(1+r)^−n) identity — output is principal + interest only.
Worked example — Tennessee
A Tennessee buyer purchasing the median home at $325,000 with 20% down ($65,000) borrows $260,000. At the PMMS 6.30% 30-year fixed, monthly P&I is $1,609. Add $192/month property tax (0.71% effective rate) and the typical Tennessee homeowners premium to reach full PITI.
Same formula, different inputs. Each city name links to its own pSEO page where the calculator is pre-filled with local medians.
| City | Median home | Median rent | HUD FMR 2BR | Median income | Est. P&I |
|---|---|---|---|---|---|
| Nashville, TN | $453,873 | $1,784/mo | $1,650/mo | $82,499 | $2,247/mo |
| Memphis, TN | $244,084 | $1,435/mo | $1,325/mo | $64,743 | $1,209/mo |
| Knoxville, TN | $361,804 | $1,731/mo | $1,600/mo | $69,734 | $1,792/mo |
| Chattanooga, TN | $322,364 | $1,524/mo | $1,400/mo | $68,666 | $1,596/mo |
| Clarksville, TN | $293,289 | $1,337/mo | $1,225/mo | $66,210 | $1,452/mo |
Sources: Zillow ZHVI + ZORI[1], HUD FMR[2], Census ACS[3], Freddie Mac PMMS[4].
Moving one state over changes the mortgage payment numbers. Compare median home value (Zillow ZHVI), top marginal income tax rate, effective property tax rate, and the BEA all-items Regional Price Parity across Tennessee and its border states.
| State | Median home | Top inc tax | Prop tax rate | RPP (US=100) |
|---|---|---|---|---|
| Tennessee (this page) | $325,000 | None | 0.71% | 92.1 |
| Alabama equivalent | $223,000 | 5.00% | 0.41% | 89.1 |
| compare to Arkansas | $198,000 | 3.90% | 0.64% | 86.8 |
| check Georgia | $325,000 | 5.39% | 0.92% | 96.5 |
| see Kentucky | $205,000 | 4.00% | 0.83% | 89.9 |
Sources: Zillow ZHVI[1], state Departments of Revenue / Tax Foundation[2], Tax Foundation property taxes[3], BEA Regional Price Parities[4].
These calculators share inputs with the mortgage payment formula, so pair them to pressure-test your answer from multiple angles.
| Metric | Tennessee | National Avg | AL | AR | GA |
|---|---|---|---|---|---|
| Median Home Price | $325,000 | $420,000 | $295,000 | $275,000 | $395,000 |
| Property Tax Rate | 0.71% | 1.07% | 0.41% | 0.62% | 0.92% |
| State Income Tax | None | 4.6%* | 5% | 4.9% | 5.75% |
| Avg Insurance Cost | $1,560/yr | $1,544/yr | $1,320/yr | $1,440/yr | $1,440/yr |
| Cost of Living Index | 92.1 | 100 | 88 | 84 | 97 |
| Household Income — p25 | $39,214 | $41,401 | $28,776 | $32,400 | $40,000 |
| Household Income — p50 (median) | $75,712 | $83,592 | $65,382 | $64,553 | $80,215 |
| Household Income — p75 | $132,597 | $153,000 | $127,601 | $115,675 | $149,001 |
*Average of states that levy an income tax. 2026 estimates. Tennessee has zero state income tax — no tax on wages, salaries, interest, or dividends.[3] Income percentiles from DQYDJ/Census CPS 2024[4].
Tennessee has no state income tax on wages — more take-home pay available for mortgage payments.
THDA (Tennessee Housing Development Authority) offers Great Choice and Homeownership for the Brave programs.
Tennessee's property tax rate of 0.71% is below the national average.
Nashville median home prices ($435K+) are well above the state median of $345K — consider suburbs and satellite cities.
Every number on this page reads from the same CalcFi data repository used by the Live Data pages below — the figures stay consistent.
Home Prices by State
Zillow ZHVI across all 50 states
Property Tax by State
Effective rate × ZHVI = annual bill
Household Income by State
FRED real median + percentile bands
Cost of Living by State
BEA RPP all-items + housing
No-Income-Tax States
Full list + trade-offs
Current Interest Rates
Treasury curve + PMMS + FDIC
CalcFi pSEO pages combine three inputs: (1) the calculator formula itself, which runs client-side so no inputs leave your browser; (2) state-level financial constants from primary public datasets; and (3) national benchmarks for comparison. The Tennessee page uses the property tax rate (0.71%), median home price ($325,000), and no state income tax from the sources listed below.
Refresh cadence:state tax brackets and minimum wage rates are reviewed annually after each state's legislative session. Property tax, median home price, insurance, and cost-of-living figures are reviewed annually against the primary sources. Income percentiles are refreshed when the Census CPS/IPUMS releases update (typically September). Page-level dateModified matches the last editorial review date, shown above.
Known limits: statewide averages mask large intra-state variance — county-level property tax and metro-level home prices differ significantly from the figures shown. For the most precise calculations, cross-check the output against your actual county assessor and the latest federal/state tax tables at filing time.
Use Mortgage Payment Calculator for any city in Tennessee.
Every number on this page cites a primary public dataset. Last reviewed (auto-bumped by the next ISR refresh after an ETL run).
CalcFi does not sell data. If you spot an error, email hello@calcfi.app with the URL and the correct figure.