Mortgage on a $200K house in Tennessee
$1,252 a month with 20% down — $1,076 principal and interest plus $76 property tax and $100 insurance.
Tennessee's typical property tax is 0.46% of the home's value a year (U.S. average 0.9%), which adds $76 a month on a $200K home. The typical home in Tennessee is worth $330,844, so $200K is 40% below the typical price.
$200K home in Tennessee: payment by down payment
| Down payment | Cash down | Loan | Principal + interest | PMI / MIP | Tax + insurance | Total / month | Income needed |
|---|---|---|---|---|---|---|---|
| 20% down | $40,000 | $160,000 | $1,076 | $0 | $176 | $1,252 | $53,700 |
| 10% down | $20,000 | $180,000 | $1,211 | $75 | $176 | $1,462 | $62,700 |
| 5% down | $10,000 | $190,000 | $1,278 | $79 | $176 | $1,533 | $65,700 |
| 3.5% down (FHA) | $7,000 | $196,378 | $1,321 | $88 | $176 | $1,586 | $68,000 |
Assumes a 30-year fixed loan at 7.11%, property tax of 0.46% 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.
Where in Tennessee does $200K buy a typical home?
In these counties the typical home value is within 15% of $200K:
| County | Typical home | Tax rate | Total / month |
|---|---|---|---|
| Grundy County | $206,810 | 0.38% | $1,240 |
| Hardin County | $207,630 | 0.41% | $1,245 |
| Scott County | $191,085 | 0.51% | $1,261 |
| Crockett County | $190,919 | 0.59% | $1,274 |
| Clay County | $209,475 | 0.56% | $1,270 |
| Benton County | $189,722 | 0.48% | $1,256 |
| Morgan County | $210,307 | 0.52% | $1,264 |
| Weakley County | $189,627 | 0.48% | $1,257 |
| Henderson County | $213,136 | 0.48% | $1,257 |
| Hickman County | $186,108 | 0.46% | $1,254 |
| Shelby County | $215,732 | 0.98% | $1,339 |
| Wayne County | $180,980 | 0.49% | $1,257 |
19 of 95 Tennessee counties tracked by Zillow have a typical home value at or below $200K. See all Tennessee home prices.
Other prices in Tennessee
Frequently asked questions
What is the mortgage on a $200K house in Tennessee?
About $1,252 a month with 20% down at 7.11%: $1,076 principal and interest, $76 property tax and $100 insurance.
How much do I need to make to buy a $200K house in Tennessee?
About $53,700 a year, so that the payment stays under 28% of your gross income.
What is the property tax on a $200K house in Tennessee?
At Tennessee's typical effective rate of 0.46%, about $913 a year. Rates vary by county and city — see the county pages.