Morristown, TN home prices
Typical home $297,011 · +2.7% in a year · income needed $79,200
The Morristown, TN metro area ranks 328 of 894 U.S. metros for home values (U.S. typical home: $366,157). Prices changed +2.7% in a year and +35.6% over five years. With 20% down at 7.11%, the typical home costs about $1,848 a month including 0.41% property tax (Hamblen County rate).
Mortgage on the typical Morristown home
| Down payment | Cash down | Loan | Principal + interest | PMI / MIP | Tax + insurance | Total / month | Income needed |
|---|---|---|---|---|---|---|---|
| 20% down | $59,402 | $237,609 | $1,598 | $0 | $250 | $1,848 | $79,200 |
| 10% down | $29,701 | $267,310 | $1,798 | $111 | $250 | $2,159 | $92,500 |
| 5% down | $14,851 | $282,161 | $1,898 | $118 | $250 | $2,265 | $97,100 |
| 3.5% down (FHA) | $10,395 | $291,632 | $1,962 | $131 | $250 | $2,343 | $100,400 |
Assumes a 30-year fixed loan at 7.11%, property tax of 0.41% of the home value a year, homeowners insurance of 0.6% a year, PMI of 0.5% of the loan a year when the down payment is under 20%, and FHA mortgage insurance of 0.55% a year plus a 1.75% upfront premium added to the loan. Your rate, taxes and insurance will differ.
Counties in the Morristown area
| County | Typical home | 1-yr change | Tax rate |
|---|---|---|---|
| Hamblen County, TN | $269,584 | +2.9% | 0.41% |
| Jefferson County, TN | $334,422 | +2.0% | 0.43% |
| Grainger County, TN | $280,819 | +5.9% | 0.48% |
What can you afford in Tennessee on your salary? · Tennessee home prices · Salaries in Tennessee
Frequently asked questions
How much is a house in Morristown?
The typical home in the Morristown, TN metro area is worth $297,011 (Zillow, September 2026).
What salary do you need to buy a house in Morristown?
About $79,200 a year for the typical home with 20% down at 7.11%.