How Much House Can You Afford in Tennessee?

Tennessee property tax rate: 0.64%. Calculate your maximum affordable home price with Tennessee-specific rates.

You can afford a home up to

$288,355

That's a 2-bedroom condo/townhome in Nashville

Based on your $75,000 income with 20% down

3-bedroom home
$288K$92K more →
1-bedroom condo

Your $288,355 budget buys

Nashville2-bedroom condo/townhomeMiamiStudio apartmentRaleigh3-bedroom homeCharlotte3-bedroom homeTampa3-bedroom homeNew York CityStudio in Upper Manhattan/BronxDenver1-bedroom condoSalt Lake City2-bedroom condo/townhomePortland1-bedroom condoAustin2-bedroom condo/townhomePhoenix2-bedroom condo/townhomeMinneapolis3-bedroom homeChicago2-bedroom condoSan FranciscoNothing yetLos AngelesNothing yetSeattleNothing yet
/Nashville
28%Recommended
$
%
%

Monthly payment breakdown

$1,750/mo

P&I$1,496
Tax$154
Insurance$100
Calculate your mortgage payment on $288,355Should you rent or buy at this price?

Home price

$288,355

Down payment

$57,671

Loan amount

$230,684

No PMI

Waived (20%+ down)

This is an estimate using Tennessee's average property tax rate of 0.64%. Actual rates vary by county. Consult a local lender for a pre-approval.

How it works

This calculator uses the 28/36 rule — a widely used guideline for mortgage affordability. Your total housing costs (mortgage, taxes, insurance, PMI, HOA) should not exceed your chosen DTI ratio of gross monthly income.

The calculator works backwards from your income to find the maximum home price that keeps monthly costs within your DTI limit. It uses the standard amortization formula and Tennessee's average property tax rate of 0.64%.

Tennessee housing quick facts

Average property tax rate 0.64%
Monthly property tax on $400K home $213
Affordable home at $100K income (28% DTI) $390,298
Monthly payment at $100K income $2,333/mo

Cities in Tennessee

City-specific affordability data with median home prices and local tax rates.

City Median price Property tax Insurance/yr
Nashville $440K 0.66% $2,000

FAQ

How much house can I afford in Tennessee?

On a $100,000 income with 20% down at 6.75% interest and Tennessee's 0.64% property tax rate, you can afford approximately $390,298 using the recommended 28% DTI ratio. Your monthly payment would be about $2,333.

What is the property tax rate in Tennessee?

The average effective property tax rate in Tennessee is 0.64%. On a $400,000 home, that's approximately $213/month in property taxes. Actual rates vary by county and municipality.

Is Tennessee expensive for homebuyers?

Tennessee has below-average property taxes at 0.64%, which helps with affordability. On a $100,000 income, you can afford about $390,298 — more than many other states.

What is the 28/36 rule?

The 28/36 rule says your total housing costs should not exceed 28% of gross monthly income (front-end DTI), and total debt payments should not exceed 36% (back-end DTI). This calculator lets you adjust the DTI ratio from 20% to 40% to find your comfort level.

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