How your housing costs change when you relocate. Based on 2026 data with 10% down, 6.5% rate, 30-year fixed.
Your housing costs will increase by approximately $720 per month ($8,640/year) when you move from Ohio to Tennessee.
If you sell your median-priced Ohio home ($215K) and buy in Tennessee ($340K):
Your Ohio equity falls $4K short of a 20% down payment in Tennessee. You may need additional savings or could consider a lower down payment with PMI.
Over 10 years, this move costs you approximately $86K in housing costs alone.
Housing costs more in Tennessee. The median home is 37% higher than in Ohio — a $125K jump. You may need to adjust your expectations on square footage or location, or come with a larger down payment to keep your monthly costs manageable.
Good news on taxes: Tennessee's 0.56% property tax rate is significantly lower than Ohio's 1.56%. You'll save approximately $1,450 per year on property taxes, which adds up to $15K over a decade.
Insurance will cost you more in Tennessee — $2,400/year compared to $1,400/year in Ohio. That's an extra $1,000 annually ($83/month). Shop multiple carriers to find the best rate.
When you buy in Tennessee, expect about $5K in closing costs (1.5% of purchase price). This includes a 0.37% transfer tax. Budget for this amount on top of your down payment.
Tennessee's THDA Great Choice Home Loan offers Up to $25,000 DPA. If you haven't owned a home in three years (or are buying in Tennessee for the first time), you may qualify. Check eligibility requirements and income limits on Tennessee's housing finance agency website.