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Knoxville, TN mortgage & affordability calculator

The typical home in Knoxville, TN is worth about $330,000. With 20% down that's a loan near $264,000 — the calculator is pre-filled with that figure. Knoxville pairs University of Tennessee and healthcare employment with some of the lowest property tax rates in the country. Proximity to the Great Smoky Mountains has pulled in remote workers and retirees, pushing prices up faster than local wages.

$1,714.05 / month

Total interest
$353,063
Total paid
$617,063
Payoff
30.0 years
Balance over YearBalance ends near $0 at 30.$0$66k$132k$198k$264k0612182430Year

How much you need to earn

Knoxville, TN's median household income is about $62,000 a year. Under standard 28/36 lending rules that supports a home price around $239,017 with 20% down — below the $330,000 typical price, so many buyers need a larger down payment, a co-borrower, or a longer commute.

$239,082 max home price

Max loan amount
$173,082
Housing payment budget
$1,447
P&I budget
$1,124
Bound by
front-end ratio

Uses the 28% front-end / 36% back-end DTI guidelines. Lenders vary.

Typical asking rent in Knoxville, TN is about $1,400 a month, so owning the median home costs roughly $637 more per month before tax effects, maintenance, and any change in home value.

Frequently asked questions

What is a typical mortgage payment in Knoxville, TN?
On the metro's roughly $330,000 typical home with 20% down, the loan is about $264,000. Principal and interest run near $1,714 a month at today's rate, and Knoxville, TN's property tax plus insurance add about $323, for a full payment near $2,037.
Can I afford a home in Knoxville, TN on the median income?
The median household income is about $62,000 a year. Under standard 28/36 lending rules that supports a home price around $239,017 with 20% down — below the $330,000 typical price, so buyers often need a larger down payment or a co-borrower.
Is it cheaper to rent or buy in Knoxville, TN?
Typical asking rent is about $1,400 a month. The full owner payment on a median home is near $2,037, so owning costs roughly $637 more per month before tax effects, maintenance, and any appreciation.
How much are property taxes in Knoxville, TN?
The effective property tax rate in the core county is about 0.60% of market value — roughly $1,980 a year on the typical home. Your exact rate depends on the municipality and any exemptions.
Are home prices in Knoxville, TN rising or falling?
Home values are up about 4% over the past year. Knoxville pairs University of Tennessee and healthcare employment with some of the lowest property tax rates in the country. Proximity to the Great Smoky Mountains has pulled in remote workers and retirees, pushing prices up faster than local wages.

Nearby metros

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