Side-by-side comparison of mortgage costs, property taxes, closing costs, and homeowners insurance between Nebraska and Tennessee. Updated for 2026.
Nebraska wins 4 of 6 cost categories, making it the more affordable state for homebuyers overall. With a median home price of $245K and lower overall costs, Nebraska 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 Nebraska saves you approximately $348/month ($4,176/year) compared to Tennessee, based on median home prices with identical loan terms.
Nebraska offers meaningfully lower home prices than Tennessee, with median prices running 28% less ($95K difference). This gap translates to both a smaller loan and lower monthly payments. First-time buyers priced out of Tennessee may find Nebraska far more accessible, particularly when combined with local down payment assistance programs.
Property taxes are dramatically different: Tennessee charges 0.56% while Nebraska charges 1.73%, a gap of 1.17 percentage points. On the respective median homes, this means Nebraska homeowners pay roughly $4,239 per year in property taxes versus $1,904 in Tennessee. Over 30 years of homeownership, this difference alone can add up to six figures. Retirees on fixed incomes should weigh this heavily.
Both states offer down payment assistance for first-time buyers. Nebraska's NIFA Homebuyer Assistance provides Up to 5% DPA, 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: property taxes are the defining difference here. Nebraska's 1.73% rate versus Tennessee's 0.56% means Tennessee homeowners save approximately $2,335 every year on taxes alone. Over a 30-year mortgage, that difference compounds into tens of thousands of dollars — making it the most important cost factor in this comparison.