Mortgage payment estimates, closing cost breakdowns, and homebuying data for Nashville, Tennessee.
Median Home Price
$435K
Population
716K
Avg Monthly Rent
$1,680
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 Nashville.
Nashville vs Tennessee Median
The median home price in Nashville is $435,000, which is 28% above the Tennessee state median of $340,000.
Mortgage Calculator — Nashville, TN
Pre-filled with Nashville median home price and Tennessee tax/insurance rates. Adjust for your property.
Three down payment scenarios for a $435K home using Tennessee's 0.56% tax rate and $2,400/yr insurance.
5% Down
$3,256/mo
Down: $21,750
Loan: $413K
P&I: $2,612
Tax: $203
Insurance: $200
PMI: $241
10% Down
$3,106/mo
Down: $43,500
Loan: $392K
P&I: $2,475
Tax: $203
Insurance: $200
PMI: $228
20% Down (No PMI)
$2,603/mo
Down: $87,000
Loan: $348K
P&I: $2,200
Tax: $203
Insurance: $200
Income needed (28% rule): $112K/year with 20% down, $133K/year with 10% down.
Rent vs Buy in Nashville
Rent
$1,680/mo
vs
Buy (10% down)
$3,106/mo
Price-to-rent ratio: 21.6 — At a ratio above 20, renting may be more economical in Nashville for shorter stays. Buying costs $1,426 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 Nashville is $435,000, 28% above the Tennessee state median of $340,000. With a population of 715,884, Nashville is a major metro area 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 Nashville 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 Nashville is $1,680/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.
Nashville is a higher-cost market. At $435K median, buyers need significant savings or strong income. Down payment assistance through Tennessee's THDA Great Choice Home Loan program becomes especially important.
Run a Rent vs Buy analysis
Compare total costs of renting vs buying in Nashville.