Side-by-side comparison of mortgage costs, property taxes, closing costs, and homeowners insurance between Oregon and Tennessee. Updated for 2026.
Oregon and Tennessee are evenly matched across major housing cost categories. Your decision may come down to other factors like job market, climate, or lifestyle preferences. Use the calculators below to model your specific scenario.
Estimated PITI payments assuming 10% down, 6.5% rate, 30-year fixed mortgage with PMI.
Buying in Tennessee saves you approximately $979/month ($11,748/year) compared to Oregon, based on median home prices with identical loan terms.
Tennessee offers meaningfully lower home prices than Oregon, with median prices running 29% less ($140K difference). This gap translates to both a smaller loan and lower monthly payments. First-time buyers priced out of Oregon may find Tennessee far more accessible, particularly when combined with local down payment assistance programs.
Tennessee has a moderate property tax advantage at 0.56% versus Oregon's 0.93%. While the rate gap of 0.37% may seem small, it translates to an annual difference of approximately $2,560 when applied to each state's median home price. Over a typical homeownership period of 7-10 years, that adds up to $20K in savings.
Insurance costs favor Oregon at $1,400/year versus $2,400/year in Tennessee, a difference of $1,000 annually. While not the largest cost factor, this adds up to over $10K over a decade of homeownership. Shop multiple carriers in either state — actual premiums depend on your specific property, coverage level, and claims history.
Both states offer down payment assistance for first-time buyers. Oregon's OHCS Oregon Bond provides Cash Advantage up to $15K, 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: Oregon and Tennessee are broadly similar in housing costs, with only $979/month separating them in total PITI payments. In cases like this, your decision should be driven by lifestyle preferences — job opportunities, climate, proximity to family, and quality of life — rather than pure cost savings. Either state offers a reasonable path to homeownership.