Mortgage payment estimates, closing cost breakdowns, and homebuying data for Jackson, Tennessee.
Median Home Price
$195K
Population
68K
Avg Monthly Rent
$950
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 Jackson.
Jackson vs Tennessee Median
The median home price in Jackson is $195,000, which is 43% below the Tennessee state median of $340,000.
Mortgage Calculator — Jackson, TN
Pre-filled with Jackson median home price and Tennessee tax/insurance rates. Adjust for your property.
Three down payment scenarios for a $195K home using Tennessee's 0.56% tax rate and $2,400/yr insurance.
5% Down
$1,570/mo
Down: $9,750
Loan: $185K
P&I: $1,171
Tax: $91
Insurance: $200
PMI: $108
10% Down
$1,503/mo
Down: $19,500
Loan: $176K
P&I: $1,109
Tax: $91
Insurance: $200
PMI: $102
20% Down (No PMI)
$1,277/mo
Down: $39,000
Loan: $156K
P&I: $986
Tax: $91
Insurance: $200
Income needed (28% rule): $55K/year with 20% down, $64K/year with 10% down.
Rent vs Buy in Jackson
Rent
$950/mo
vs
Buy (10% down)
$1,503/mo
Price-to-rent ratio: 17.1 — A ratio between 15-20 means the rent vs buy decision in Jackson depends heavily on your timeline. If you plan to stay 5+ years, buying likely wins. For shorter stays, renting preserves flexibility.
The median home price in Jackson is $195,000, 43% below the Tennessee state median of $340,000. With a population of 68,205, Jackson 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 Jackson 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 Jackson is $950/month. The price-to-rent ratio in Jackson is moderate, meaning the buy-vs-rent decision depends heavily on how long you plan to stay.
Jackson offers strong affordability. With median prices under $250K, first-time buyers have realistic paths to homeownership, especially combined with Tennessee's THDA Great Choice Home Loan program.
Run a Rent vs Buy analysis
Compare total costs of renting vs buying in Jackson.