Total monthly cost of ownership
Cost to Own a Home in Bolivar, Tennessee
A $136,000 home here costs
$1,201per 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 $51,500 a year.
A standard mortgage calculator would have told you $741. The real number is $460 higher every month, 62% more than the payment most buyers budget for.
Compare Hardeman 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.
Bolivar against Hardeman County and Tennessee
| Measure | Bolivar | Hardeman County |
|---|---|---|
| Median home value | $136,000 | $116,800 |
| Median property tax | $793 | $762 |
| Effective tax rate | 0.583% | 0.652% |
| Median gross rent | $827 | $818 |
| Population | 5,171 | 25,477 |
The weather behind that power bill
Bolivar sits in Hardeman County, which averages a high of 89.5°F in its hottest month and a low of 28.1°F in its coldest, with 56.14" of precipitation a year and 30% of it in a single three-month stretch. That climate drives 1,652 cooling and 3,595 heating degree days, which is what sets the $155 electricity line above.
See the full climate breakdown for Hardeman County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Hardeman County
Full Hardeman County cost breakdown · Every county in Tennessee
Talk to someone who works this market
These are Bolivar 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 Bolivar every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Bolivar I already own here and may sell
Common questions
How much does it cost to own a home in Bolivar?
A $136,000 home in Bolivar, Tennessee costs approximately $1,201 per month with 20% down at 7.24%. That is $741 principal and interest, $66 property tax, $57 homeowners insurance, $223 utilities and $113 set aside for maintenance.
What is the property tax rate in Bolivar?
Bolivar has an effective property tax rate of 0.583%, based on a median home value of $136,000 and median real estate taxes of $793. That is lower than the Hardeman County average of 0.652%.
What is the average home price in Bolivar?
The median owner-occupied home value in Bolivar, Tennessee is $136,000, against $116,800 across Hardeman County.
Is it cheaper to rent or buy in Bolivar?
Median gross rent in Bolivar is $827 a month, against $1,201 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 Bolivar?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Bolivar, Tennessee at today's rate takes a household income of roughly $51,500 a year. That covers the full $1,201 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Bolivar, 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.