Mortgage payment estimates, closing cost breakdowns, and homebuying data for Columbia, Tennessee.
Median Home Price
$345K
Population
42K
Avg Monthly Rent
$1,380
Property Tax Rate
0.56% *
* Property tax shown is the Tennessee state average effective rate. Actual rates vary by county, city, and school district — check with your local assessor for exact rates in Columbia.
Columbia vs Tennessee Median
The median home price in Columbia is $345,000, which is roughly in line with the Tennessee state median of $340,000.
Mortgage Calculator — Columbia, TN
Pre-filled with Columbia median home price and Tennessee tax/insurance rates. Adjust for your property.
Three down payment scenarios for a $345K home using Tennessee's 0.56% tax rate and $2,400/yr insurance.
5% Down
$2,624/mo
Down: $17,250
Loan: $328K
P&I: $2,072
Tax: $161
Insurance: $200
PMI: $191
10% Down
$2,505/mo
Down: $34,500
Loan: $311K
P&I: $1,963
Tax: $161
Insurance: $200
PMI: $181
20% Down (No PMI)
$2,106/mo
Down: $69,000
Loan: $276K
P&I: $1,745
Tax: $161
Insurance: $200
Income needed (28% rule): $90K/year with 20% down, $107K/year with 10% down.
Rent vs Buy in Columbia
Rent
$1,380/mo
vs
Buy (10% down)
$2,505/mo
Price-to-rent ratio: 20.8 — At a ratio above 20, renting may be more economical in Columbia for shorter stays. Buying costs $1,125 more per month than renting, and it typically takes 5-7 years to break even on the transaction costs of buying.
The median home price in Columbia is $345,000, roughly in line with the Tennessee state median of $340,000. With a population of 42,280, Columbia is a smaller market where home prices reflect strong demand and local economic factors.
Property taxes in Tennessee average 0.56% annually. This low property tax rate is a significant advantage for Columbia buyers, keeping your monthly costs well below what you'd pay in higher-tax states. Homeowners insurance in Tennessee runs approximately $2,400 per year. This is within the normal range nationally.
Average rent in Columbia is $1,380/month. With a price-to-rent ratio above 20, renting could be more economical in the short term — use our Rent vs Buy calculator to model your specific timeline.
Columbia presents moderate affordability. The $345K median puts homeownership within reach for median-income households, though down payment savings and closing costs require planning.
Run a Rent vs Buy analysis
Compare total costs of renting vs buying in Columbia.