Mortgage payment estimates, closing cost breakdowns, and homebuying data for Cookeville, Tennessee.
Median Home Price
$285K
Population
36K
Avg Monthly Rent
$1,150
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 Cookeville.
Cookeville vs Tennessee Median
The median home price in Cookeville is $285,000, which is 16% below the Tennessee state median of $340,000.
Mortgage Calculator — Cookeville, TN
Pre-filled with Cookeville median home price and Tennessee tax/insurance rates. Adjust for your property.
Three down payment scenarios for a $285K home using Tennessee's 0.56% tax rate and $2,400/yr insurance.
5% Down
$2,202/mo
Down: $14,250
Loan: $271K
P&I: $1,711
Tax: $133
Insurance: $200
PMI: $158
10% Down
$2,104/mo
Down: $28,500
Loan: $257K
P&I: $1,621
Tax: $133
Insurance: $200
PMI: $150
20% Down (No PMI)
$1,774/mo
Down: $57,000
Loan: $228K
P&I: $1,441
Tax: $133
Insurance: $200
Income needed (28% rule): $76K/year with 20% down, $90K/year with 10% down.
Rent vs Buy in Cookeville
Rent
$1,150/mo
vs
Buy (10% down)
$2,104/mo
Price-to-rent ratio: 20.7 — At a ratio above 20, renting may be more economical in Cookeville for shorter stays. Buying costs $954 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 Cookeville is $285,000, 16% below the Tennessee state median of $340,000. With a population of 36,378, Cookeville is a smaller market where home prices tend to be more accessible than in many parts of Tennessee.
Property taxes in Tennessee average 0.56% annually. This low property tax rate is a significant advantage for Cookeville 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 Cookeville is $1,150/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.
Cookeville presents moderate affordability. The $285K 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 Cookeville.