Tennessee home affordability calculator
How much house you can afford in Tennessee, with the state's property tax and insurance costs built in. At today's 7.24% average rate, a household earning $100,000 can comfortably afford about $333,120.
By John Crane, MBA & the Editorial Team · Updated for the 2026 tax year. How we check our numbers
Comfortable price, Conventional loan
$333,120
$2,333 a month. Stretch to $340,550; lenders may approve up to $340,550
| Principal and interest | $1,997.61 | 85.6% |
|---|---|---|
| Property tax | $124.92 | 5.4% |
| Insurance | $117.98 | 5.1% |
| PMI | $92.82 | 4.0% |
- Comfortable
- $333,120
- Stretch
- $340,550
- Lender maximum
- $340,550
- Loan amount
- $293,120
- Cash needed
- $54,660
- Limited by
- Housing ratio
Three ways to count it
| Budget | DTI limit | Max price | Monthly | Your ratios | Limited by |
|---|---|---|---|---|---|
| Comfortable | 28% / 36% | $333,120 | $2,333 | 28.0% / 34.0% | Housing ratio |
| Stretch | 45% total | $340,550 | $2,392 | 28.7% / 34.7% | Closing cash |
| Lender maximum | 50% total | $340,550 | $2,392 | 28.7% / 34.7% | Closing cash |
Price vs interest rate
Conventional, 30 yearsCash to close
Comfortable priceSee the comfortable price in the mortgage calculator for the full amortization schedule and when mortgage insurance ends.
Buying a home in Tennessee
- Property tax in Tennessee runs about 0.45% of home value a year (the median tax bill divided by the median home value), the 6th lowest of the 50 states and DC (U.S. 0.89%), or about $1,497 a year on the median home.
- The median owner-occupied home in Tennessee is worth $332,600, the 23rd lowest of the 50 states and DC, compared with $360,600 nationally.
- Homeowners insurance runs about $4.25 per $1,000 of home value a year (U.S. $4.29), roughly $1,414 a year on the median home.
- In 2026 the conforming loan limit for a one-unit home is $832,750 in most counties and the FHA limit starts at $541,287, with both reaching $1,249,125 in high-cost counties.
- Comfortably affording the median Tennessee home of $332,600 takes a household income of about $100,000 at today's rates.
Home price you can afford in Tennessee at 7.24%
| Household income | Comfortable price | Monthly payment | Lender maximum |
|---|---|---|---|
| $60,000 | $204,811 | $1,300 | $290,716 |
| $80,000 | $273,754 | $1,867 | $396,727 |
| $100,000 | $333,120 | $2,333 | $497,884 |
| $150,000 | $476,904 | $3,500 | $760,131 |
| $200,000 | $623,763 | $4,667 | $872,750 |
Comfortable keeps housing at 28% of income and all debts at 36%; the lender maximum allows debts up to 50% and stops at the $832,750 conforming loan limit. Both assume enough savings for closing costs; the calculator starts with $15,000 of cash, which can cap the maximum. Check the full monthly cost in the Tennessee mortgage calculator.
More for Tennessee: Tennessee paycheck calculator · Tennessee income tax calculator · Tennessee mortgage calculator
Home affordability calculators for other states
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How this is calculated
Affordability
The highest price where the full payment (principal, interest, property tax, insurance and mortgage insurance) stays within the debt-to-income limits for the loan type, the loan fits the 2026 limit, and the down payment meets the minimum.
Tennessee costs
Property tax and insurance use Tennessee's averages from the Census Bureau's American Community Survey (2024), scaled to each price.
Examples
Conventional 30-year fixed loan at 7.24% (Freddie Mac weekly average), $40,000 down, $500 of other monthly debts, a 740 to 759 credit score for PMI, and enough cash for closing costs.
Sources
- Freddie Mac Primary Mortgage Market Survey (weekly average mortgage rates)
- U.S. Census Bureau American Community Survey (property tax and home values by state)
- FHFA conforming loan limits
- HUD: FHA single family housing (loan limits and mortgage insurance)
- VA: home loan funding fee and closing costs
- USDA Rural Development: single family housing guaranteed loans
- Arch Mortgage Insurance: borrower-paid monthly PMI rate card
Related guides
- How much house can I afford? The 28/36 rule, explainedHow the 28/36 rule turns your income and debts into a home price, what lenders allow, and how rates, taxes and your down payment change the answer.
- FHA vs conventional loans: which costs less?FHA and conventional mortgages compared on down payment, credit score, mortgage insurance and total cost, and where each one comes out ahead.
Questions
How much house can I afford in Tennessee on $100,000 a year?
About $333,120 on a conventional 30-year loan at 7.24%, keeping housing near 28% of income and all debts under 36%, with $40,000 down and $500 of other monthly debts. That is a payment of about $2,333 a month including Tennessee's average property tax and insurance. Lenders may approve up to about $497,884.
What salary do you need to buy a house in Tennessee?
About $100,000 a year to comfortably afford the median Tennessee home of $332,600 with $40,000 down at 7.24%. A larger down payment, lower debts or a lower rate reduce it.
How do property taxes affect affordability in Tennessee?
Tennessee's average property tax of 0.45% of value a year adds about $125 a month on the median home, which lenders count in your housing payment. Each extra dollar of tax and insurance lowers the price you qualify for.