Side-by-side comparison of mortgage costs, property taxes, closing costs, and homeowners insurance between Missouri and Tennessee. Updated for 2026.
Missouri wins 5 of 6 cost categories, making it the more affordable state for homebuyers overall. With a median home price of $235K and lower overall costs, Missouri offers meaningful savings compared to Tennessee. Both states offer first-time buyer programs — explore the state pages for full details.
Estimated PITI payments assuming 10% down, 6.5% rate, 30-year fixed mortgage with PMI.
Buying in Missouri saves you approximately $622/month ($7,464/year) compared to Tennessee, based on median home prices with identical loan terms.
Missouri offers meaningfully lower home prices than Tennessee, with median prices running 31% less ($105K difference). This gap translates to both a smaller loan and lower monthly payments. First-time buyers priced out of Tennessee may find Missouri far more accessible, particularly when combined with local down payment assistance programs.
Tennessee has a moderate property tax advantage at 0.56% versus Missouri's 0.97%. While the rate gap of 0.41% may seem small, it translates to an annual difference of approximately $375 when applied to each state's median home price. Over a typical homeownership period of 7-10 years, that adds up to $3K in savings.
Both states offer down payment assistance for first-time buyers. Missouri's MHDC First Place Loan provides Up to 4% cash assistance, while Tennessee's THDA Great Choice Home Loan offers Up to $25,000 DPA. These programs can significantly reduce your upfront costs and make homeownership accessible even if you haven't saved a full 20% down payment. Check eligibility requirements on each state's housing finance agency website — income limits and purchase price caps apply.
The bottom line: Missouri homes cost $105K less than Tennessee on average. That translates to roughly $622 less per month in total housing costs if you choose Missouri. For most buyers, this price gap is the single biggest factor — it affects your loan size, monthly payment, and how quickly you build equity.