Total monthly cost of ownership
Cost to Own a Home in Alcoa, Tennessee
A $232,000 home here costs
$1,937per month, all in, with 20% down at today's 7.24% 30-year fixed rate. By the 28% rule that takes a household income of about $83,000 a year.
A standard mortgage calculator would have told you $1,265. The real number is $673 higher every month, 53% more than the payment most buyers budget for.
Compare Blount County with anywhere in America · full county breakdown
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Alcoa against Blount County and Tennessee
| Measure | Alcoa | Blount County |
|---|---|---|
| Median home value | $232,300 | $275,700 |
| Median property tax | $1,908 | $1,387 |
| Effective tax rate | 0.821% | 0.503% |
| Median gross rent | $1,057 | $1,042 |
| Population | 11,635 | 137,747 |
The weather behind that power bill
Alcoa sits in Blount County, which averages a high of 88.4°F in its hottest month and a low of 30.0°F in its coldest, with 51.93" of precipitation a year and 28% of it in a single three-month stretch. That climate drives 1,574 cooling and 3,528 heating degree days, which is what sets the $155 electricity line above.
See the full climate breakdown for Blount County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Blount County
Full Blount County cost breakdown · Every county in Tennessee
Talk to someone who works this market
These are Alcoa averages. What one specific house costs to own, or what it would sell for today, depends on the street and the condition of the place. We will connect you with one licensed local agent who works Alcoa every week. Free, no obligation, and we never sell your details to a list.
Common questions
How much does it cost to own a home in Alcoa?
A $232,000 home in Alcoa, Tennessee costs approximately $1,937 per month with 20% down at 7.24%. That is $1,265 principal and interest, $159 property tax, $98 homeowners insurance, $223 utilities and $193 set aside for maintenance.
What is the property tax rate in Alcoa?
Alcoa has an effective property tax rate of 0.821%, based on a median home value of $232,300 and median real estate taxes of $1,908. That is higher than the Blount County average of 0.503%.
What is the average home price in Alcoa?
The median owner-occupied home value in Alcoa, Tennessee is $232,300, against $275,700 across Blount County.
Is it cheaper to rent or buy in Alcoa?
Median gross rent in Alcoa is $1,057 a month, against $1,937 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
What salary do you need to buy a home in Alcoa?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Alcoa, Tennessee at today's rate takes a household income of roughly $83,000 a year. That covers the full $1,937 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Alcoa, US Census Bureau, American Community Survey ACS 2023 5-Year, place-level tables.
- Homeowners insurance, NAIC average premium for Tennessee.
- Electricity price, EIA Electric Power Monthly Table 5.6.A.
- Mortgage rate, Freddie Mac PMMS, refreshed weekly.
- Maintenance (1%/yr) and water and sewer ($68/mo) are national estimates. Every assumption above is editable.