Total monthly cost of ownership
Cost to Own a Home in Coalfield, Tennessee
A $191,000 home here costs
$1,509per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $982. The real number is $527 higher every month — 54% more than the payment most buyers budget for.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Coalfield against Morgan County and Tennessee
| Measure | Coalfield | Morgan County |
|---|---|---|
| Median home value | $190,600 | $144,000 |
| Median property tax | $1,070 | $837 |
| Effective tax rate | 0.561% | 0.581% |
| Median gross rent | $1,104 | $742 |
| Population | 2,782 | 21,193 |
The weather behind that power bill
Coalfield sits in Morgan County, which averages a high of 85.9°F in its hottest month and a low of 25.5°F in its coldest, with 56.39" of precipitation a year and 28% of it in a single three-month stretch. That climate drives 980 cooling and 4,313 heating degree days, which is what sets the $130 electricity line above.
See the full climate breakdown for Morgan County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Morgan County
Full Morgan County cost breakdown · Every county in Tennessee
Common questions
How much does it cost to own a home in Coalfield?
A $191,000 home in Coalfield, Tennessee costs approximately $1,509 per month with 20% down at 6.66%. That is $982 principal and interest, $89 property tax, $80 homeowners insurance, $198 utilities and $159 set aside for maintenance.
What is the property tax rate in Coalfield?
Coalfield has an effective property tax rate of 0.561%, based on a median home value of $190,600 and median real estate taxes of $1,070. That is lower than the Morgan County average of 0.581%.
What is the average home price in Coalfield?
The median owner-occupied home value in Coalfield, Tennessee is $190,600, against $144,000 across Morgan County.
Is it cheaper to rent or buy in Coalfield?
Median gross rent in Coalfield is $1,104 a month, against $1,509 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Coalfield — 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.