Watcharu Finance

Nashville, TN mortgage & affordability calculator

The typical home in Nashville, TN is worth about $440,000. With 20% down that's a loan near $352,000 — the calculator is pre-filled with that figure. Tennessee has no state income tax and property taxes are low, which has helped Nashville absorb years of strong in-migration. Prices have outpaced local incomes, so affordability now depends heavily on down-payment size.

$2,285.41 / month

Total interest
$470,743
Total paid
$822,743
Payoff
30.0 years
Balance over YearBalance ends near $0 at 30.$0$88k$176k$264k$352k0612182430Year

How much you need to earn

Nashville, TN's median household income is about $76,000 a year. Under standard 28/36 lending rules that supports a home price around $300,035 with 20% down — below the $440,000 typical price, so many buyers need a larger down payment, a co-borrower, or a longer commute.

$299,970 max home price

Max loan amount
$211,970
Housing payment budget
$1,773
P&I budget
$1,376
Bound by
front-end ratio

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

Typical asking rent in Nashville, TN is about $1,750 a month, so owning the median home costs roughly $932 more per month before tax effects, maintenance, and any change in home value.

Frequently asked questions

What is a typical mortgage payment in Nashville, TN?
On the metro's roughly $440,000 typical home with 20% down, the loan is about $352,000. Principal and interest run near $2,285 a month at today's rate, and Nashville, TN's property tax plus insurance add about $397, for a full payment near $2,682.
Can I afford a home in Nashville, TN on the median income?
The median household income is about $76,000 a year. Under standard 28/36 lending rules that supports a home price around $300,035 with 20% down — below the $440,000 typical price, so buyers often need a larger down payment or a co-borrower.
Is it cheaper to rent or buy in Nashville, TN?
Typical asking rent is about $1,750 a month. The full owner payment on a median home is near $2,682, so owning costs roughly $932 more per month before tax effects, maintenance, and any appreciation.
How much are property taxes in Nashville, TN?
The effective property tax rate in the core county is about 0.65% of market value — roughly $2,860 a year on the typical home. Your exact rate depends on the municipality and any exemptions.
Are home prices in Nashville, TN rising or falling?
Home values are up about 3% over the past year. Tennessee has no state income tax and property taxes are low, which has helped Nashville absorb years of strong in-migration. Prices have outpaced local incomes, so affordability now depends heavily on down-payment size.

Nearby metros

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