Total monthly cost of ownership
Cost to Own a Home in Cookeville, Tennessee
A $264,000 home here costs
$2,122per 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 $91,000 a year.
A standard mortgage calculator would have told you $1,439. The real number is $682 higher every month, 47% more than the payment most buyers budget for.
Compare Putnam 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.
Cookeville against Putnam County and Tennessee
| Measure | Cookeville | Putnam County |
|---|---|---|
| Median home value | $263,800 | $246,800 |
| Median property tax | $1,537 | $1,299 |
| Effective tax rate | 0.583% | 0.526% |
| Median gross rent | $885 | $881 |
| Population | 35,544 | 81,366 |
The weather behind that power bill
Cookeville sits in Putnam County, which averages a high of 87.3°F in its hottest month and a low of 27.0°F in its coldest, with 60.02" of precipitation a year and 28% of it in a single three-month stretch. That climate drives 1,270 cooling and 4,014 heating degree days, which is what sets the $155 electricity line above.
See the full climate breakdown for Putnam County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Putnam County
Full Putnam County cost breakdown · Every county in Tennessee
Talk to someone who works this market
These are Cookeville 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 Cookeville every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Cookeville I already own here and may sell
Common questions
How much does it cost to own a home in Cookeville?
A $264,000 home in Cookeville, Tennessee costs approximately $2,122 per month with 20% down at 7.24%. That is $1,439 principal and interest, $128 property tax, $111 homeowners insurance, $223 utilities and $220 set aside for maintenance.
What is the property tax rate in Cookeville?
Cookeville has an effective property tax rate of 0.583%, based on a median home value of $263,800 and median real estate taxes of $1,537. That is higher than the Putnam County average of 0.526%.
What is the average home price in Cookeville?
The median owner-occupied home value in Cookeville, Tennessee is $263,800, against $246,800 across Putnam County.
Is it cheaper to rent or buy in Cookeville?
Median gross rent in Cookeville is $885 a month, against $2,122 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 Cookeville?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Cookeville, Tennessee at today's rate takes a household income of roughly $91,000 a year. That covers the full $2,122 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Cookeville, 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.